HilleVax Reports Second Quarter 2024 Financial Results and Highlights Recent Company Progress

Core Insights - HilleVax, Inc. reported financial results for Q2 2024, highlighting a net loss of $40.7 million, an increase from $27.9 million in Q2 2023, and cash reserves of $245.0 million as of June 30, 2024 [1][4][9] Recent Business Highlights - The NEST-IN1 clinical study for HIL-214 did not meet its efficacy endpoints, leading to the discontinuation of its development in infants [2] - The company announced a workforce reduction of approximately 40% to cut operating expenses while maintaining core capabilities for the development of HIL-214 and HIL-216 [2] Financial Performance - Research and development expenses for Q2 2024 were $26.6 million, up from $23.0 million in Q2 2023, attributed to an increase in R&D personnel [3] - General and administrative expenses rose to $8.1 million in Q2 2024 from $7.2 million in Q2 2023, also due to a rise in G&A staff [4] - Total operating expenses for Q2 2024 were $42.96 million, compared to $30.18 million in Q2 2023 [8] Balance Sheet Overview - As of June 30, 2024, total assets were $276.93 million, down from $344.43 million at the end of 2023, while total liabilities decreased to $72.00 million from $78.91 million [9]