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Tag: Hookipa Pharma

  • HOOKIPA (HOOK) Shares Climb Premarket On Merger News

    HOOKIPA (HOOK) Shares Climb Premarket On Merger News

    HOOKIPA Pharma Inc. (NASDAQ: HOOK) shares are seeing sharp rise on the charts following the announcement of potential merger discussions with Poolbeg Pharma. As of the latest premarket check, HOOK stock was on an upsurge of 10.45%, trading at $2.22. The proposed all-share acquisition aims to create a unified biopharmaceutical entity focused on innovative immunotherapies addressing critical unmet medical needs.

    Strategic Vision for the Combined Group

    The boards of HOOKIPA and Poolbeg envision the merged company as a Nasdaq-listed clinical-stage biopharmaceutical leader. The Combined Group intends to give operational excellence and the creation of innovative medicines for cancer and other serious illnesses first priority, supported by a varied pipeline and an accomplished management team.

    Important resources include Poolbeg’s Phase 2-ready POLB 001, an oral medication intended to lessen cancer immunotherapy-induced cytokine release syndrome (CRS), and HOOKIPA’s HB-700, a next-generation immunotherapy that targets KRAS mutations.

    Strengths in Clinical and Financial 

    The merger is expected to accelerate clinical data milestones across multiple programs over the next two years, addressing large therapeutic areas with significant unmet needs. Additionally, partnerships with Gilead Sciences could yield substantial development milestones, commercialization revenues, and sales royalties, enhancing shareholder value.

    To support the expanded operations, HOOKIPA plans a private placement fundraise of up to $30 million, ensuring sufficient capital to achieve anticipated milestones through 2026.

    Ownership and Future Operations

    Under the proposed terms, Poolbeg shareholders would receive 0.03 HOOK shares for each Poolbeg share, translating to a 55% stake in the Combined Group for Poolbeg shareholders, with HOOK shareholders retaining 45%. Upon completion of the merger and fundraise, both entities’ ownership percentages will adjust proportionally.

    A portion of HOOKIPA’s program value will be allocated to existing shareholders via a contingent value rights (CVR) instrument. With Poolbeg being a private company, the Combined Group intends to keep its Nasdaq listing under HOOKIPA.

    Operational footprints are expected to span the EU, UK, and the U.S., supported by a robust international leadership team. The merger, if finalized, is anticipated to conclude by Q2 2025.

  • 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.