HOOKIPA Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

HOOKIPA Pharma Inc. (NASDAQ: HOOK) announced the granting of non-statutory options for 50,000 shares of Common Stock to a new employee. This decision, approved by the Compensation Committee, is in line with Nasdaq Listing Rule 5635(c)(4) as an inducement for the employee's acceptance of employment. The exercise price is set at $1.00 per share, with a ten-year term and a vesting schedule that includes 25% vesting on the one-year anniversary and the remainder vesting quarterly over three years. HOOKIPA is a biopharmaceutical company focusing on immunotherapies developed from its proprietary arenavirus platform, targeting various cancers and collaborating with Roche and Gilead for future treatments.

Positive

• Granting of options may incentivize new talent and foster employee engagement.
• The exercise price of $1.00 per share could be considered attractive if the company's stock grows.
• HOOKIPA's focus on novel immunotherapies places it in a growing market with significant potential.

Negative

• Options granted may dilute existing shareholders' equity over time.

NEW YORK and VIENNA, Austria, April 14, 2023 (GLOBE NEWSWIRE) -- HOOKIPA Pharma Inc. (NASDAQ: HOOK, the “Company”), a company developing a new class of immunotherapeutics based on its proprietary arenavirus platform, today announced that the Compensation Committee of the Company’s Board of Directors approved the grant of non-statutory options to a new employee to purchase an aggregate of 50,000 shares of the Company’s Common Stock under HOOKIPA’s 2023 Inducement Plan. The award was granted as an inducement material to the employee’s acceptance of employment with HOOKIPA in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price equal to $1.00 per share. The options have a ten year term and vest over four years, with 25% vesting on the one-year anniversary of the grant date and the remainder vesting in equal quarterly installments for three years thereafter, subject to the employee’s continued service with HOOKIPA on each such vesting date. The options are subject to the terms and conditions of HOOKIPA’s 2023 Inducement Plan approved by the Board of Directors in April 2023 and the terms and conditions of award agreements covering the grants.

About HOOKIPA Pharma Inc.

HOOKIPA Pharma Inc. (NASDAQ: HOOK) is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies, based on its proprietary arenavirus platform, which are designed to mobilize and amplify targeted T cells and thereby fight or prevent serious disease. HOOKIPA’s replicating and non-replicating technologies are engineered to induce robust and durable antigen-specific CD8+ T cell responses and pathogen-neutralizing antibodies. HOOKIPA’s pipeline includes its wholly owned investigational arenaviral immunotherapies targeting Human Papillomavirus 16-positive cancers, prostate cancers, and other undisclosed oncology programs. HOOKIPA is collaborating with Roche on an arenaviral immunotherapeutic for KRAS-mutated cancers. In addition, HOOKIPA aims to develop functional cures of HBV and HIV in collaboration with Gilead.

Find out more about HOOKIPA online at www.hookipapharma.com.

For further information, please contact:
Media	Investors
Instinctif Partners	Matt Beck
hookipa@instinctif.com	Executive Director - Investor Relations
+44 (0) 7457 2020	matthew.beck@hookipapharma.com
	+1 917 209 6886

FAQ

What is the stock symbol for HOOKIPA Pharma?

The stock symbol for HOOKIPA Pharma is HOOK.

When was the options grant approved by HOOKIPA?

The options grant was approved on April 14, 2023.

What is the vesting schedule for the options granted to the new employee at HOOKIPA?

The options vest 25% on the one-year anniversary and then quarterly over the next three years.

What is the exercise price for the options granted by HOOKIPA?

The exercise price for the options is $1.00 per share.

What is HOOKIPA Pharma's main focus?

HOOKIPA Pharma focuses on developing immunotherapies based on its proprietary arenavirus platform.