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Tag: HOOK

  • HOOKIPA Pharma Inc. (HOOK) stock is gaining in after-hours. Here’s why

    The stock of HOOKIPA Pharma Inc (HOOK) closed the recent trading session at $2.48, gaining 24% from the previous trading session. The stock of HOOK further gained 9.27% to $2.71, in the after-hours. The company announced the collaboration with Gilead to develop immunotherapies against HIV. HOOK also filed for the form SC 13G/A and 3 with the SEC, on February 17, 2022.

    News

    On February 15, 2022, HOOKIPA Pharma made an announcement regarding the collaboration and license agreement with Gilead. According to the agreement, HOOK and Gilead will work on developing the treatment for the human immunodeficiency virus (HIV). Also, Gilead licensed the exclusive rights to HOOKIPA’s arenaviral platform to develop treatments for HIV and hepatitis B.

    Moreover, given the terms and conditions, HOOPIKA will be responsible for the completion of Phase 1b clinical trials. The funding will be provided by Gilead. The total funding agreement is $50 million. The terms include $15 million as an upfront payment and $35 million as an equity purchase. In addition, the exclusive rights for further development will be given to Gilead after the completion of clinical trials. HOOK filed for form 8-K with the SEC on February 15, 2022. The filing of Form 8-K holds the details of the agreement.

    The CEO of HOOKIPA Pharma, Joern Aldag, said that they are happy to enter this agreement with Gilead. He further added that this agreement will help both parties and the HIV community. Moreover, he said that Gilead is helping them in advancing their arenaviral platform technology.

    About HOOK

    HOOKIPA Pharma Inc is a clinical-stage pharmaceutical company that focuses on creating novel treatments. The novel treatment prepares and enhances designated T cells to address neglected requirements in cancer. HOOKIPA’s pipeline incorporates investigational arenaviral therapies focusing on Human Papilloma Virus 16-positive malignant growths, prostate cancer, KRAS-changed tumor, and other undisclosed cancer symptoms. Not only but also, HOOK will also develop cures for Hepatitis B and HIV with Gilead. The company has its base in New York, United States of America (USA).

  • Amended Collaboration with Gilead for HIV Immunotherapies: Hookipa Pharma Inc. (HOOK) Soars After Hours

    On February 15, Hookipa Pharma Inc. (HOOK) announced entering into an amended and restated collaboration and license agreement with Gilead. The news resulted in the stock soaring high in the after-hours on Tuesday.

    The stock remained bullish in the regular session with a gain of 6.35% at 12.05 million shares. The day saw a super heavy volume of 3,485% of its average. HOOK closed the regular session at a value of $1.34 per share. Following the announcement, the stock added a further 50.00% in the after-hours session. Hence, HOOK was trading at $2.01 apiece at an after-hours volume of 11.86 million shares.

    The clinical-stage company, Hookipa Pharma Inc. develops products for the prevention and cure of infectious diseases and cancer. Currently, its 26.14 million outstanding shares trade at a market capitalization of $37.75 million. HOOK stands at a year-to-date loss of 42.49% while it declined by 89.21% last year.

    HOOK and Gilead

    Previously, in April 2018, Gilead had licensed exclusive rights to the company’s arenaviral platform for developing HIV and HBV (hepatitis B virus) immunotherapies. As per the previous terms, the companies had agreed on a joint research phase, following which further development was Gilead’s right.

    On Tuesday, February 15, the company announced an amended and restated collaboration and license agreement. As per the amended terms, HOOK will be responsible for advancing the HIV program through the completion of a Phase 1b trial. This will be done with funding from Gilead through an upfront payment and equity purchases. Following the completion of the trial, Gilead, further development rights would be with Gilead. Additionally, the HBV program terms are the same as the original agreement.

    In addition to the previously earned $4 million, HOOK will now receive $15 million from Gilead with a $5 million equity investment. The company is also eligible for an additional $30 million of equity financing.

    Upcoming Presentation

    On February 09, the company announced its participation in the virtual 11th Annual SVB Leerink Global Healthcare Conference. The conference is ongoing and started on February 14 and will end on February 18, 2022. The company’s corporate presentation will take place on February 16, 2022, at 10:30 a.m. EST.

    HOOK’s Financial Position

    In the third quarter of 2021, the company had revenue of $3.9 million, against $4.0 million in the year-ago period.

    Furthermore, HOOK had a net loss of $20.0 million in Q3 2021, against $13.6 million in the prior-year period.