Hookipa Pharma rises as Gilead builds stake

Hookipa Pharma

21/12/2023 13:12

** Shares of biotech firm Hookipa Pharma  HOOK.O  up 70% at
$0.97 premarket
    ** Co says Gilead Sciences  GILD.O  has purchased 15 mln
shares of Hookipa's common stock for ~$21.25 mln at a price of
$1.42 per share
    ** Co says it has the right to sell an additional ~$8.75 mln
of common stock to Gilead as pro-rata participation in potential
future equity raises
    ** After the investment, GILD holds 19.4% of HOOK's common
shares, co says
    ** Shares of the $47.4 mln company have dropped 30% in value
this year

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))