HOOKIPA Pharma Inc. (HOOK), a clinical-stage biopharmaceutical company, has slumped 14.29% in the premarket trading session. As a result, the stock was trading at $2.16 when last checked. During Tuesday’s regular trading session, the stock gained an increase of 5% and closed the day at $2.52. The stock has slid in aftermarket owing to the announcement of a public offering by the company.
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Selling of Common Stocks
On Tuesday, HOOK announced its intention to offer and sell the shares of its common stock as well as shares of its non-voting Series A convertible preferred stock. The offering is to be done in an underwritten public offering. The company said that it also intends to grant the underwriters a 30-day option for purchasing an additional 15% of the shares of common stock which would be offered in the offering.
License Agreement with Gilead
On the 15th of February, HOOK announced to have entered into a license agreement with Gilead. The agreement was regarding advancements in the development of novel arenaviral immunotherapy as a crucial component of functional curative regimen for HIV. Joern Aldag, Chief Executive Officer at HOOK, expressed pleasure over the agreement and said that the provisions included in the agreement would benefit both parties.
HOOK to Participate in Conference
On the 9th of February, HOOK announced that its executive management was to participate in the virtual 11th Annual SVB Leerink Global Healthcare Conference. The conference was to be conducted from the 14th to the 18th of February 2022. The company was to provide an update regarding the new class of immunotherapeutics under production.
What’s Ahead for HOOK?
Analysts are of the view that HOOK stock is showing positive technical indicators currently, and hence, is expected to perform excellently in the next few weeks. Hence, it holds a buying opportunity for the investors at this point.
