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HilleVax Inc. (HLVX) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including a net loss of $147.3 million for the year, compared to a net loss of $123.6 million in the previous year. This increase is attributed to restructuring and impairment charges as well as in-process research and development expenses.
Research and development expenses decreased to $78.2 million from $106.7 million, primarily due to reduced clinical development expenses related to the discontinuation of further development of HIL-214.
In-process research and development expenses were $15.3 million, related to the Kangh License for the HIL-216 vaccine candidate.
General and administrative expenses increased to $28.8 million from $26.7 million, driven by higher personnel-related expenses and consulting fees.
Restructuring and impairment charges amounted to $33.0 million, including impairment losses on long-lived assets and costs associated with workforce reductions.
Interest income was $7.1 million, while interest expense was $3.3 million, related to the company's term loan facility, which was repaid in July 2024.
As of December 31, 2024, HilleVax reported cash, cash equivalents, and marketable securities totaling $171.4 million.
The company continues to explore strategic alternatives and business development opportunities following the discontinuation of HIL-214 development in infants.
HilleVax anticipates that its existing cash resources will be sufficient to meet its operational needs for at least the next 12 months.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the HilleVax Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.