HOOKIPA Pharma Inc.

HOOKIPA reported Q4 2022 revenue of $7.8 million, including a milestone payment from Gilead and recognition of part of the $25 million Roche upfront payment. Q4 net loss was $12.3 million. For full-year 2022, the company reported a net loss of slightly less than $65 million, which management said was 14% below 2021, and R&D spend was 17% lower than 2021. Cash was $113.4 million at the end of 2022, and the company also received $15 million in partner milestone payments in the first quarter of 2023. Guidance-wise, management expects expenses to moderately increase in 2023, with net loss around $65 million, while remaining well funded for upcoming catalysts; HB-200 data are expected in Q2 2023, HB-300 initial data in 1H 2024, and the HB-500 HIV IND filing is expected in 2023.

Joern Aldag framed 2022 as a year of broad pipeline progress across four programs and said the company is leveraging its arenaviral platform to generate antigen-specific CD8 T cells. He highlighted HB-200, HB-300, the Roche KRAS collaboration, and the Gilead hepatitis B/HIV work as the main pillars, and repeatedly pointed to Q2 2023 and 2024 as key readout periods. His tone was constructive and disciplined, stressing that HOOKIPA wants to keep burn low while advancing toward value-inflection points.

Reinhard Kandera said Q4 revenue was $7.8 million and Q4 net loss was $12.3 million, with full-year net loss slightly below $65 million. He noted R&D spend was 17% lower than 2021, while G&A rose modestly but was offset by grant and interest income. He also cited $75 million raised in the first quarter of 2022, $19 million from Gilead and $25 million from Roche during 2022, and cash of $113.4 million at year-end plus $15 million of additional partner milestone income in early 2023. He said 2023 expenses should rise moderately and net loss should be broadly similar to 2022, around $65 million.

Analysts focused most on what would constitute success for HB-200, asking about response-rate thresholds, durability, and whether management would move ahead with a randomized study. Management said it would look at the totality of the data, including immunogenicity and other efficacy markers, and Joern said a 40% objective response rate would be a clear go-ahead signal for a Phase 3-style investment. Questions also covered HB-300 expectations, with management saying a meaningful win would be demonstrating immunogenicity against the chosen self-antigens, and capital allocation/runway, where management said HB-200 is the top priority but that Roche- and Gilead-funded programs are strategically important and largely partner-funded. Analysts also asked about timing and use of the Drug Master File, which management said can support new IND filings and can be used by partners depending on the program.