Latest news with #VIENNA
Yahoo
6 days ago
- Business
- Yahoo
HOOKIPA Pharma Announces Intention to Voluntarily Delist and Deregister its Common Stock
NEW YORK and VIENNA, July 18, 2025 (GLOBE NEWSWIRE) -- HOOKIPA Pharma Inc. (NASDAQ: HOOK, 'HOOKIPA'), a clinical-stage biopharmaceutical company developing next-generation immunotherapeutics for the treatment of cancer and serious infectious diseases, today announced its intention to voluntarily delist from the Nasdaq Capital Market ('Nasdaq') and to deregister its common stock under Section 12(b) and Section 12(g) of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), and suspend its reporting obligations under Section 15(d) of the Exchange Act. In connection with the consideration and evaluation of HOOKIPA's long-term prospects and strategies by HOOKIPA's board of directors, on May 21, 2025 HOOKIPA entered into an asset purchase agreement ('Asset Purchase Agreement') with Gilead Sciences, Inc. ('Gilead') pursuant to which Gilead will acquire all of HOOKIPA's assets primarily related to or necessary for the conduct of HOOKIPA's HB-400 program, currently in clinical development for the treatment of hepatitis B virus, and certain of HOOKIPA's assets related to HOOKIPA's HB-500 program, currently in clinical development for the treatment of human immunodeficiency virus (collectively, the 'Asset Sale'). HOOKIPA has been developing the HB-400 and HB-500 programs in collaboration with Gilead pursuant to the collaboration and license agreement with Gilead. HOOKIPA is holding a special meeting of stockholders (the 'Special Meeting') on July 29, 2025, at 10:00 a.m. Eastern Time to seek stockholder approval of the Asset Sale and to approve the dissolution and liquidation of HOOKIPA in accordance with Delaware law. If the stockholders approve the Asset Sale and the dissolution and liquidation of HOOKIPA, HOOKIPA intends to file a Certificate of Dissolution (the 'Certificate of Dissolution') with the Delaware Secretary of State as soon as practicable following the closing of the Asset Sale and the completion of the transfer plan under the Asset Purchase Agreement. Upon HOOKIPA's filing of a Certificate of Dissolution with the Delaware Secretary of State, the winding up and liquidation of HOOKIPA will commence. In determining to voluntarily delist and deregister its common stock, HOOKIPA considered that, assuming its stockholders approve the Asset Sale and the dissolution and liquidation of HOOKIPA at the Special Meeting, following the Asset Sale and through the subsequent liquidation and dissolution of the company, HOOKIPA would have an obligation to continue to comply with the applicable reporting requirements of the Securities Exchange Act of 1934, as amended, even though compliance with these reporting requirements would be economically burdensome in light of the Asset Sale and HOOKIPA's announced intent to dissolve and liquidate. Further, the expenses incurred by HOOKIPA in complying with the applicable reporting requirements would reduce the assets available for ultimate distribution to stockholders. On July 18, 2025, HOOKIPA notified Nasdaq of its intent to voluntarily delist its common stock from Nasdaq. HOOKIPA currently anticipates that it will file with the Securities and Exchange Commission ('SEC') a Form 25 relating to the delisting and deregistration of its common stock on or about July 29, 2025, and anticipates that the delisting and deregistration under Section 12(b) of its common stock will then become effective on or about August 8, 2025. Following the delisting, any trading in HOOKIPA's common stock would only occur in privately negotiated sales and potentially on an over-the-counter market; however, there is no guarantee that a broker will make a market in the common stock and that trading of the common stock will continue on an over-the-counter market or otherwise. Following the delisting of its common stock from Nasdaq, HOOKIPA intends to file a Form 15 with the SEC to deregister its common stock under Section 12(g) of the Exchange Act and suspend its reporting obligations under Section 15(d) of the Exchange Act. As a result of the filing of the Form 15, HOOKIPA's obligation to file certain Exchange Act reports and forms with the SEC, including certain Forms 10-K, 10-Q and 8-K, will cease. HOOKIPA will generally be relieved of all reporting obligations under the Exchange Act upon the effectiveness of the Form 15. The Company expects that the deregistration of its common stock will become effective 90 days after the filing of the Form 15 with the SEC. About HOOKIPAHOOKIPA Pharma Inc. (NASDAQ: HOOK) is a clinical-stage biopharmaceutical company focused on developing next generation immunotherapeutics based on its proprietary arenavirus platform. The company's product candidates are designed to induce specific, robust and durable CD8+ T cells and antibodies to eliminate cancers and serious infectious diseases. HOOKIPA's pipeline includes biological therapies for oncology, targeting human papillomavirus type 16-positive (HPV16+) cancers, KRAS mutated cancers, and other targets. In addition, HOOKIPA has partnered with Gilead Sciences, Inc. to develop therapies that are intended to provide functional cures for hepatitis B virus (HBV) and human immunodeficiency virus-1 (HIV-1). Find out more about HOOKIPA online at Forward Looking StatementsCertain statements set forth in this press release constitute 'forward-looking' statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by terms such as 'anticipates,' 'believes,' 'expects,' 'plans,' 'potential,' 'will,' 'would' or similar expressions and the negative of those terms. Forward-looking statements in this press release include HOOKIPA's statements regarding its plans and its ability to successfully delist from Nasdaq and to deregister its common stock as well as the anticipated benefits thereof, the potential for a trading market in HOOKIPA's common stock following the delisting, and HOOKIPA's expectations to close the Asset Sale and to dissolve and liquidate. Such forward-looking statements involve substantial risks and uncertainties that could cause actual results or events to differ materially from those that may be expressed or implied by these forward-looking statements, including, but not limited to, the uncertainty of stockholder approval of the Asset Sale and the dissolution and liquidation of HOOKIPA, the timing and ability of HOOKIPA to close the Asset Sale, the timing and effectiveness of HOOKIPA's delisting and deregistration of the common stock, and the sufficiency of existing cash to fund operations. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of HOOKIPA in general, see HOOKIPA's Annual Report on Form 10-K for the year ended December 31, 2024, as well as discussions of potential risks, uncertainties, and other important factors in HOOKIPA's subsequent filings with the SEC, which are available on the SEC's website at and HOOKIPA's website at All information in this press release is as of the date of the release, and HOOKIPA undertakes no duty to update this information unless required by law. Availability of Other Information About HOOKIPAInvestors and others should note that we announce material financial information to our investors using our investor relations website, SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with our investors and the public about our company, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage investors, the media, and others interested in our company to review the information we post on the social media channels listed on our investor relations website. For further information, please contact: InvestorsChuck PadalaChuck@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malay Mail
11-07-2025
- Business
- Malay Mail
IEA warns global oil supplies stretched despite forecast surplus
VIENNA, July 11 — The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency (IEA) said today, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast. World demand will rise by just 700,000 bpd, it said, implying a sizeable surplus. Despite making those changes, the IEA said rising refinery processing rates to meet summer travel and power-generation demand were tightening the market and the latest, accelerated supply hike from OPEC+ tomorrow had not had much effect. 'The decision by OPEC+ to further accelerate the unwinding of production cuts failed to move markets in a meaningful way given tighter fundamentals,' the agency said in a monthly report. 'Price indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances.' The comments strike a similar tone to the message earlier this week from ministers and executives of OPEC nations and bosses of Western oil majors. The output increases are not leading to higher inventories, which shows markets are thirsty for more oil, they said. On Monday, when traders reacted to OPEC+'s decision, oil rose nearly 2 per cent towards US$70 a barrel, despite the larger than expected output hike and concerns about the impact of US tariffs. It was trading near US$69 today. As examples of price indicators suggesting a tighter market, the IEA cited strong refining margins and the premium at which oil for immediate delivery is trading to later supply, a structure known as backwardation. 'Prompt time spreads are in steep backwardation and refinery margins remain healthy despite implied stock builds,' it said. Summer demand boost Oil demand typically rises in the Northern Hemisphere summer as people fly and drive more on holidays. Given rising seasonal demand, refinery crude processing rates will increase by 3.7 million bpd from May to August to meet Northern Hemisphere travel demand, the IEA said. At the same time, a doubling in crude burning in refineries for power generation, typically to meet air conditioning needs, to around 900,000 bpd will further tighten the market, it said. Nonetheless, the agency said this year's forecast for global demand growth of 700,000 bpd is the slowest since 2009, excluding 2020 when demand contracted due to the COVID pandemic. The IEA said that, while it may be too early to say US tariffs are slowing demand, the largest declines in recent data were in countries in the 'crosshairs of the tariff turmoil,' citing China, Japan, South Korea, the United States and Mexico. IEA demand forecasts are at the lower end of the industry range, as the agency expects a faster energy transition than some other forecasters. According to OPEC, demand will rise by 1.3 million bpd this year — almost double the IEA figure. Next year, the IEA sees demand growth averaging 720,000 bpd, 20,000 bpd lower than previously thought, with supply growth rising by 1.3 million bpd, also implying a surplus. — Reuters
Malay Mail
11-07-2025
- Business
- Malay Mail
IEA warns world oil market may be tighter than it looks
VIENNA, July 11 — The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency (IEA) said today, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast. World demand will rise by just 700,000 bpd, it said, implying a sizeable surplus. Despite making those changes, the IEA said rising refinery processing rates to meet summer travel and power-generation demand were tightening the market and the latest, accelerated supply hike from OPEC+ tomorrow had not had much effect. 'The decision by OPEC+ to further accelerate the unwinding of production cuts failed to move markets in a meaningful way given tighter fundamentals,' the agency said in a monthly report. 'Price indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances.' The comments strike a similar tone to the message earlier this week from ministers and executives of OPEC nations and bosses of Western oil majors. The output increases are not leading to higher inventories, which shows markets are thirsty for more oil, they said. On Monday, when traders reacted to OPEC+'s decision, oil rose nearly 2 per cent towards US$70 a barrel, despite the larger than expected output hike and concerns about the impact of US tariffs. It was trading near US$69 today. As examples of price indicators suggesting a tighter market, the IEA cited strong refining margins and the premium at which oil for immediate delivery is trading to later supply, a structure known as backwardation. 'Prompt time spreads are in steep backwardation and refinery margins remain healthy despite implied stock builds,' it said. Summer demand boost Oil demand typically rises in the Northern Hemisphere summer as people fly and drive more on holidays. Given rising seasonal demand, refinery crude processing rates will increase by 3.7 million bpd from May to August to meet Northern Hemisphere travel demand, the IEA said. At the same time, a doubling in crude burning in refineries for power generation, typically to meet air conditioning needs, to around 900,000 bpd will further tighten the market, it said. Nonetheless, the agency said this year's forecast for global demand growth of 700,000 bpd is the slowest since 2009, excluding 2020 when demand contracted due to the COVID pandemic. The IEA said that, while it may be too early to say US tariffs are slowing demand, the largest declines in recent data were in countries in the 'crosshairs of the tariff turmoil,' citing China, Japan, South Korea, the United States and Mexico. IEA demand forecasts are at the lower end of the industry range, as the agency expects a faster energy transition than some other forecasters. According to OPEC, demand will rise by 1.3 million bpd this year — almost double the IEA figure. Next year, the IEA sees demand growth averaging 720,000 bpd, 20,000 bpd lower than previously thought, with supply growth rising by 1.3 million bpd, also implying a surplus. — Reuters
Yahoo
11-07-2025
- Business
- Yahoo
World oil market may be tighter than it looks, IEA says
By Alex Lawler VIENNA (Reuters) -The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast. World demand will rise by just 700,000 bpd, it said, implying a sizeable surplus. Despite making those changes, the IEA said that rising refinery processing rates aimed at meeting summer travel and power-generation demand were tightening the market and the latest supply hike from OPEC+ announced on Saturday had not had much effect. "The decision by OPEC+ to further accelerate the unwinding of production cuts failed to move markets in a meaningful way given tighter fundamentals," the agency said in a monthly report. "Price indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances." Earlier this week, ministers and executives from OPEC nations and bosses of Western oil majors said the output increases are not leading to higher inventories, showing that markets are thirsty for more oil. Next year, the IEA sees demand growth averaging 720,000 bpd, some 20,000 bpd lower than previously thought, with supply growth rising by 1.3 million bpd, also implying a surplus. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arab News
11-07-2025
- Business
- Arab News
World oil market may be tighter than it looks, IEA says
VIENNA: The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialized countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast. World demand will rise by just 700,000 bpd, it said, implying a sizeable surplus. Despite making those changes, the IEA said that rising refinery processing rates aimed at meeting summer travel and power-generation demand were tightening the market and the latest supply hike from OPEC+ announced on Saturday had not had much effect. 'The decision by OPEC+ to further accelerate the unwinding of production cuts failed to move markets in a meaningful way given tighter fundamentals,' the agency said in a monthly report. 'Price indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances.' Earlier this week, ministers and executives from OPEC nations and bosses of Western oil majors said the output increases are not leading to higher inventories, showing that markets are thirsty for more oil. Next year, the IEA sees demand growth averaging 720,000 bpd, some 20,000 bpd lower than previously thought, with supply growth rising by 1.3 million bpd, also implying a surplus.
