New York, December 22, 2023 – Gilead Sciences (Nasdaq: GILD) has purchased 15 million shares of immunotherapeutics company, HOOKIPA Pharma’s (Nasdaq: HOOK), common stock for approximately $21.25 million, at a price of $1.4167 per share. Under the agreement, HOOKIPA is responsible for advancing its HIV program through the completion of a Phase 1b clinical trial. The company’s shares rose 52.65% on Thursday and 80.51% premarket on Friday.
Joern Aldag, Chief Executive Officer at HOOKIPA, said, “We have a tremendous partnership with Gilead, who have been incredible believers in our arenavirus platform since our initial collaboration and license agreement began more than five years ago. Together, we have made meaningful progress to find a potential functional cure for HIV. Most recently, we received clearance from the U.S. Food and Drug Administration of our Investigational New Drug application for HB-500 and are excited to begin our Phase 1 trial in the first half of next year. We are excited to continue our relationship with Gilead, and we are collectively optimistic about the potential of our partnership to benefit patients.”
Gilead now holds 19.4% of HOOKIPA’s outstanding shares of common stock.
Under the agreement, HOOKIPA has the right to sell an additional approximately $8.75 million of common stock to Gilead as pro-rata participation in potential future equity raises.
This agreement with Gilead replaces the stock purchase agreement that Hookipa entered into with Gilead in 2022.
HOOKIPA’s HB-500 is an alternating, 2-vector arenaviral therapeutic vaccine that is being evaluated as part of a potential curative regimen for HIV.
An estimated 38 million people are living with HIV worldwide. The virus infects and kills immune cells, and without effective ongoing treatment leaves the individual increasingly immunocompromised over time. HIV has no cure.
HOOKIPA Pharma Inc. (NASDAQ: HOOK) is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies, based on its proprietary arenavirus platform, which are designed to mobilize and amplify targeted T cells and thereby fight or prevent serious disease. HOOKIPA’s replicating and non-replicating technologies are engineered to induce robust and durable antigen-specific CD8+ T cell responses and pathogen-neutralizing antibodies. HOOKIPA’s pipeline includes its wholly owned investigational arenaviral immunotherapies targeting Human Papillomavirus 16-positive cancers, prostate cancers, and other undisclosed programs. HOOKIPA is collaborating with Roche on an arenaviral immunotherapeutic for KRAS-mutated cancers. In addition, HOOKIPA aims to develop functional cures of HBV and HIV in collaboration with Gilead.
HOOKIPA (Nasdaq: $HOOK) Stock Jumps Following $21.25M Gilead (Nasdaq: $GILD) Equity Investmenthttps://t.co/tdGpVvjp5P#stockstowatch #StocksInNews #investors #PrismMarketView #PrismMediaWire #PrismDigitalMedia
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