Hookipa Pharma reports Q2 revenue $4.05M, consensus $2.08M
Hookipa's cash and cash equivalents as of June 30 were $135.2M compared to $48.6M as of December 31, 2018. The increase was primarily attributable to $37.3M in net proceeds received from the issuance of shares of Series D convertible preferred stock in February and $74.6M in net proceeds received from the initial public offering in April, offset by cash used in operating and investing activities. "In the second quarter of 2019, HOOKIPA achieved a number of major milestones, including clearance to initiate our first clinical trial in immuno-oncology and acceptance by Gilead of a set of 10 HBV viral vectors for further testing," stated Joern Aldag, Hookipa's CEO. "With the FDA's clearance of our IND application for HB-201, we are advancing our oncology program into clinical development, and are also aiming to demonstrate that our technology can effectively super-charge the natural defense mechanisms in humans and deliver prevention or cure for the benefit of seriously ill patients."