Gilead (GILD) to Acquire HOOK for $10 million

Gilead Sciences Inc. (NASDAQ:GILD) has announced it will be taking over HOOKIPA Pharma Inc. (NASDAQ:HOOK) for a consideration of $10 million.

Gilead Sciences Inc. commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. GILD is only purchasing HOOK’s antiviral programs, specifically the “HB-400” & “HB-500”. The company first invested $21.25 million in HOOK in 2023, with the aim of advancing its HIV program, i.e., through only the HB-500 program at that time.

Gilead Sciences Inc. has also backed a merger between HOOK and Poolberg Pharma, in an attempt to make a stronger clinical-stage biopharmaceutical company focused on next-generation immunotherapies for cancer and other serious diseases

HOOKIPA Pharma is a clinical-stage biopharmaceutical company that develops immunotherapies targeting infectious diseases based on its proprietary arenavirus platform. HOOK has a current market capitalization of over $19 million.

Regarding the terms and timelines of the financing, the agreement will take place in three milestones. The first $3m will be paid out at the close of the deal. After that, a three-phase transfer plan will make HOOK eligible to receive $7m. The first phase will give HOOK access to the first tranche of $3m, and the remaining two phases will see HOOK receive $2 million for each phase.

The deal is currently awaiting approval from the shareholders of HOOK. The company’s share price peaked at $1.75 on May 21, 2025, and closed at $1.52 at the end of trading.

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