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HilleVax (HLVX) investor relations material
HilleVax Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered into a definitive merger agreement with XOMA Royalty, with shareholders to receive $1.95 per share in cash plus a contingent value right; closing anticipated in September 2025.
Tender offer expected to commence by August 18, 2025.
Terminated the Takeda License for HIL-214, effective six months after August 1, 2025.
Workforce reduced by 80% during 2024, with only 12 full-time employees as of August 4, 2025.
Report covers the quarter ended June 30, 2025, focusing on vaccine development and strategic alternatives after discontinuing HIL-214 in infants.
Financial highlights
Net loss was $5.3 million for Q2 2025, compared to $40.7 million for Q2 2024.
Net loss for the six months ended June 30, 2025 was $11.3 million, down from $87.5 million for the same period in 2024.
Cash, cash equivalents, and marketable securities totaled $159.5 million as of June 30, 2025, down from $171.4 million at year-end 2024.
Research and development expenses fell to $1.3 million in Q2 2025 from $26.6 million in Q2 2024; for the six months, R&D dropped to $3.3 million from $52.6 million year-over-year.
General and administrative expenses fell to $11.3 million from $16.6 million year-over-year for the six-month period.
Outlook and guidance
Existing cash and equivalents expected to fund operations for at least the next 12 months.
No revenue expected until successful development and approval of vaccine candidates, which is not anticipated in the near term.
Pending merger with XOMA may impact future operations and capital allocation.
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Merger vote includes new non-voting stock class with limited conversion and no voting rights.
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