Hookipa falls after Roche ends cancer therapy collaboration

Hookipa Pharma

29/01/2024 15:50

** Shares of therapy developer Hookipa Pharma  HOOK.O  fall
14.4% to 59 cents 
    ** Company says it has received notification from Roche
 ROG.S  of their decision to terminate the collaboration and
licensing agreement for HOOK's therapy HB-700 in KRAS mutated
cancers
    ** HOOK will regain global development rights to HB-700 from
Roche
    ** Co plans to submit an application to start clinical
trials of HB-700 in Q1 2024 and will begin searching for a
collaboration partner
    ** Co remains eligible for a final milestone payment
associated with the submission
    ** HOOK to implement cost-saving initiatives, including a
reduction of workforce by about 30%
    ** Co to prioritize clinical development of HB-200 for the
treatment of type of head and neck cancers and its Gilead
 GILD.O -partnered programs in infectious disease
   ** HOOK stock fell ~42% in the last 12 months, including
session moves

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))