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HOOKIPA Pharma | 10-K: FY2024 Annual Report

SEC ·  Feb 28 16:40

Summary by Moomoo AI

Hookipa, a clinical-stage biopharmaceutical company, reported FY2024 revenue of $43.9M, up 118% YoY from $20.1M. The company narrowed its net loss to $43.5M from $81.6M in 2023, with operating expenses decreasing to $95.4M from $117.8M. Basic and diluted loss per share improved to $3.47 from $8.63, while cash position stood at $39.9M as of December 31, 2024.The company implemented significant strategic restructuring in 2024, including multiple workforce reductions totaling 130%. Development of Eseba-vec was paused in November 2024, while HB-700 for KRAS-mutated cancers is Phase 1-ready with first dosing expected mid-2025. The Gilead partnership programs progressed with HB-400 in Phase 1 for Hepatitis B and HB-500 entering Phase 1b trials for HIV.Despite operational progress, Hookipa faces substantial going concern uncertainties with an accumulated deficit of $412.8M. The company maintains significant tax loss carryforwards of $400.9M in Austria and $9.5M in the U.S., while terminating Poolbeg Pharma acquisition discussions in February 2025. Management recorded $2.7M in restructuring charges and has $4.7M in CMO obligations for 2025.
Hookipa, a clinical-stage biopharmaceutical company, reported FY2024 revenue of $43.9M, up 118% YoY from $20.1M. The company narrowed its net loss to $43.5M from $81.6M in 2023, with operating expenses decreasing to $95.4M from $117.8M. Basic and diluted loss per share improved to $3.47 from $8.63, while cash position stood at $39.9M as of December 31, 2024.The company implemented significant strategic restructuring in 2024, including multiple workforce reductions totaling 130%. Development of Eseba-vec was paused in November 2024, while HB-700 for KRAS-mutated cancers is Phase 1-ready with first dosing expected mid-2025. The Gilead partnership programs progressed with HB-400 in Phase 1 for Hepatitis B and HB-500 entering Phase 1b trials for HIV.Despite operational progress, Hookipa faces substantial going concern uncertainties with an accumulated deficit of $412.8M. The company maintains significant tax loss carryforwards of $400.9M in Austria and $9.5M in the U.S., while terminating Poolbeg Pharma acquisition discussions in February 2025. Management recorded $2.7M in restructuring charges and has $4.7M in CMO obligations for 2025.
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