In This Story
HOOKIPA Pharma Inc (HOOK+2.15%). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenue to $4.7 million from $6.9 million in the same quarter the previous year. The decrease is attributed to the termination of the Roche (RHHBY+1.05%) Collaboration Agreement.
Research and development expenses decreased to $15.6 million from $24.6 million in the same quarter of the previous year, primarily due to lower manufacturing and research service expenses.
General and administrative expenses increased to $6.7 million from $4.9 million, driven by higher personnel-related expenses and professional fees.
The company reported a net loss of $13.8 million for the quarter, compared to $19.1 million in the previous year, reflecting reduced operating expenses.
Cash used in operating activities was $56.0 million for the nine months ended September 30, 2024, compared to $46.3 million in the previous year, due to changes in deferred revenue and other working capital items.
HOOKIPA had cash, cash equivalents, and restricted cash of $60.0 million as of September 30, 2024. The company acknowledges substantial doubt regarding its ability to continue as a going concern for a period of one year after the issuance of the financial statements.
The filing details the company's strategic refocus, including workforce reductions and the prioritization of its eseba-vec program and Gilead-partnered (GILD+1.45%) infectious disease programs.
HOOKIPA continues to explore additional funding options, including equity or debt financings, collaborations, and strategic alliances, to support its operations and development programs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the HOOKIPA Pharma Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.