HOOKIPA Pharma appoints new CEO and CFO, reviews strategy By Investing.com

NEW YORK – HOOKIPA Pharma Inc. (NASDAQ: HOOK), a biopharmaceutical company focused on developing immunotherapies, announced today the appointment of Dr. Malte Peters as Chief Executive Officer and Terry Coelho as Executive Vice President and Chief Financial Officer, effective immediately. They will maintain their roles on the Board of Directors, succeeding Jörn Aldag and Reinhard Kandera.

The company is also undergoing a strategic and operational review to enhance shareholder value and advance its lead candidate, HB-200. This review is not expected to affect ongoing operations or clinical trials.

Dr. Peters, with over two decades of experience in pharmaceutical and biotech industries, has been a part of HOOKIPA’s Board since January 2023 and served as interim Senior Clinical Advisor. He has played a significant role in the development of HB-200, including the pivotal Phase 2/3 trial design approved by the FDA.

Ms. Coelho, who joined the Board in April 2023, brings over 35 years of experience across finance, business development, and strategic planning. She has been instrumental in leading business transformations and securing strategic restructuring agreements.

In addition to the executive appointments, Sean Cassidy has joined the Board of Directors, Audit Committee, and Compensation Committee. Cassidy, with over 20 years of experience in the biotech and pharmaceutical industries, served as CFO of Arvinas until February 2024, leading the company through various financings and business transactions.

The Board believes that the new leadership is well-positioned to steer the company through its next development phase and capitalize on the potential of HB-200, which has received Fast Track Designation from the FDA and PRIME designation from the European Medicines Agency for treating HPV16+ recurrent/metastatic oropharyngeal squamous cell carcinoma.

The company’s pipeline also includes other development programs, such as HB-500 for HIV treatment, in collaboration with Gilead (NASDAQ:).

This leadership transition and the strategic review reflect HOOKIPA’s commitment to realizing the full potential of its product candidates and creating value for its shareholders. The information for this report is based on a press release statement.

In other recent news, Arvinas, Inc. has undergone significant changes in its executive team. Andrew Saik, with over two decades of biopharmaceutical industry experience, has been appointed as the new Chief Financial Officer. Ian Taylor, Ph.D., has been promoted to President of Research and Development, and Angela Cacace, Ph.D., has assumed the role of Chief Scientific Officer.

Arvinas has also reported positive results from a Phase 1b trial of vepdegestrant, a drug being developed in collaboration with Pfizer (NYSE:), for the treatment of advanced ER+/HER2- breast cancer. This drug is currently undergoing evaluation in Phase 3 trials.

On the financial front, analysts have revised Arvinas’ EPS estimates for 2024 to $(5.27) from previous $(6.37) and for 2025 to $(5.55) from previous $(6.84). Revenue estimates for 2024 have been adjusted down to $124 million from $132 million, with $197 million anticipated in 2025.

In terms of analyst notes, both Truist Securities and Oppenheimer have maintained their positive ratings on Arvinas. Truist Securities retains its Buy rating, while Oppenheimer reiterates its Outperform rating with a steady price target of $70.00. Both firms underscored the potential of the company’s Vepdeg program and Pfizer’s ongoing involvement. These are the recent developments in the company’s journey.

InvestingPro Insights

In the midst of HOOKIPA Pharma’s leadership transition and strategic review, it’s pertinent to consider the financial health and market performance of companies within the same industry. Arvinas Inc. (NASDAQ: ARVN), a peer in the biopharmaceutical field, provides an interesting comparison with its recent market data and analytical insights.

According to InvestingPro, Arvinas holds a market capitalization of approximately $1.95 billion, reflecting its standing in the market. Despite a challenging revenue growth trend, with a decrease of 48.11% over the last twelve months as of Q1 2024, Arvinas has maintained a strong gross profit margin of 100% in the same period.

InvestingPro Tips highlight that Arvinas, similar to HOOKIPA, is navigating through a phase where cash management is crucial, as the company is quickly burning through cash, yet it holds more cash than debt on its balance sheet. This could be a critical factor for HOOKIPA’s new leadership to consider in their operational review.

Moreover, Arvinas has seen a strong return over the last month with a 13.08% price total return, which may indicate investor confidence in the company’s strategic direction—a sentiment HOOKIPA may aspire to achieve with its new appointments and focus on HB-200.

For those interested in a deeper dive into the financials and forecasts for Arvinas, InvestingPro offers additional insights. There are currently 7 analysts who have revised their earnings upwards for the upcoming period, an indicator that could be relevant to HOOKIPA as it seeks to bolster investor expectations. While Arvinas does not pay a dividend, which is common for growth-focused biotech firms, its liquid assets exceed short-term obligations, providing a cushion for operational flexibility.

Investors and stakeholders in biopharmaceutical companies like HOOKIPA may benefit from the comprehensive analysis provided by InvestingPro. For access to all of the tips, including those not mentioned here, consider subscribing to the service using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. There are 9 additional InvestingPro Tips available for Arvinas, which could provide valuable context and guidance for similar companies in the sector.

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