HilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress

Core Insights - HilleVax, Inc. reported a net loss of $147.3 million for the year ended December 31, 2024, compared to a net loss of $123.6 million for the previous year, indicating a worsening financial position [6][11] - The company had cash, cash equivalents, and marketable securities totaling $171.4 million as of December 31, 2024, down from $303.5 million a year earlier, reflecting a significant decrease in liquidity [2][13] - Research and development expenses decreased to $78.2 million for the full year 2024 from $106.7 million in 2023, primarily due to lower clinical development costs [3][11] - General and administrative expenses increased to $28.8 million for the full year 2024 from $26.7 million in 2023, driven by higher personnel-related costs [4][11] - The company is exploring continued development of its norovirus vaccine candidates and other strategic alternatives [1][7] Financial Performance - Total operating expenses for the year ended December 31, 2024, were $155.3 million, up from $133.3 million in 2023 [11] - Other income for the full year 2024 was $8.0 million, a decrease from $9.8 million in 2023, primarily due to interest expenses related to a term loan repayment [5][11] - The net loss per share for the year was $3.00, compared to $3.04 in the previous year [11] Company Overview - HilleVax is focused on developing and commercializing novel vaccines, with its initial programs targeting norovirus, which causes significant health burdens globally [7] - Norovirus is estimated to result in over 700 million cases of acute gastroenteritis and 200,000 deaths annually, leading to substantial healthcare costs [7]