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).
