On January 25, 2024, HOOKIPA Pharma Inc., a clinical-stage biopharmaceutical company, received a notice from Roche indicating the termination of their Research Collaboration and License Agreement concerning the HB-700 cancer program, effective April 25, 2024. Despite meeting all criteria under the agreement, Roche exercised its right to terminate without cause. HOOKIPA will regain full rights to the HB-700 program and remains eligible for a milestone payment upon IND submission. Concurrently, HOOKIPA announced preliminary unaudited cash and cash equivalents of approximately $117.5 million as of December 31, 2023, with full financial details to be reported in the upcoming Annual Report. Additionally, the company is refocusing its strategy, prioritizing the clinical development of HB-200 for HPV16+ head and neck cancers and Gilead-partnered infectious disease programs. This strategic shift includes pausing development of HB-300 and most preclinical research, as well as a workforce reduction by 30%. The restructuring is expected to incur severance and related costs of approximately $1.5 million, with a non-cash impairment charge estimated between $10 million and $13 million due to the discontinuation of the GMP facility project.

On January 25, 2024, HOOKIPA Pharma Inc., a clinical-stage biopharmaceutical company, received a notice from Roche indicating the termination of their Research Collaboration and License Agreement concerning the HB-700 cancer program, effective April 25, 2024. Despite meeting all criteria under the agreement, Roche exercised its right to terminate without cause. HOOKIPA will regain full rights to the HB-700 program and remains eligible for a milestone payment upon IND submission. Concurrently, HOOKIPA announced preliminary unaudited cash and cash equivalents of approximately $117.5 million as of December 31, 2023, with full financial details to be reported in the upcoming Annual Report. Additionally, the company is refocusing its strategy, prioritizing the clinical development of HB-200 for HPV16+ head and neck cancers and Gilead-partnered infectious disease programs. This strategic shift includes pausing development of HB-300 and most preclinical research, as well as a workforce reduction by 30%. The restructuring is expected to incur severance and related costs of approximately $1.5 million, with a non-cash impairment charge estimated between $10 million and $13 million due to the discontinuation of the GMP facility project.