{"id":831282,"date":"2025-03-28T17:07:20","date_gmt":"2025-03-28T21:07:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/"},"modified":"2025-03-28T17:07:20","modified_gmt":"2025-03-28T21:07:20","slug":"hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/","title":{"rendered":"HilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress"},"content":{"rendered":"
\n

\n $171.4 million of cash, cash equivalents and marketable securities as of December\u00a031, 2024<\/em>\n <\/p>\n

\n The company is exploring the potential for continued development of its norovirus vaccine candidates in adults as well as business development related activities and other strategic alternatives<\/em>\n <\/p>\n

BOSTON, March 28, 2025 (GLOBE NEWSWIRE) — HilleVax, Inc. (Nasdaq: HLVX), a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, today reported financial results for the year ended December\u00a031, 2024.<\/p>\n

\n Full Year 2024 Financial Results<\/strong>\n <\/p>\n

As of December\u00a031, 2024 and December\u00a031, 2023, the company had cash, cash equivalents and marketable securities totaling $171.4 million and $303.5 million, respectively.<\/p>\n

Research and development expenses for the fourth quarter 2024 were $9.2 million and $78.2 million for the full year ended December 31, 2024, compared to $33.3 for the fourth quarter 2023 and $106.7 million for the full year ended December 31, 2023. The decrease was primarily due to lower clinical development costs.<\/p>\n

General and administrative expenses for the fourth quarter 2024 were $6.1 million and $28.8 for the full year ended December 31, 2024, compared to $7.0 million for the fourth quarter 2023 and $26.7 for the full year ended December 31, 2023. The year over year increase was primarily due to higher personnel related costs.<\/p>\n

Other income for the fourth quarter 2024 was $2.2 million and $8.0 for the full year ended December 31 2024, compared to $3.3 million for the fourth quarter 2023 and $9.8 million for the full year ended December 31, 2023. The decrease was primarily driven by interest expense incurred on the repayment of the term loan facility during 2024.<\/p>\n

Net loss for the fourth quarter 2024 was $33.9 million and $147.3 for the year ended December 31, 2024, compared to $37.0 million for the fourth quarter 2023 and $123.6 for the full year ended December 31, 2023.<\/p>\n

\n About HilleVax<\/strong>\n <\/p>\n

HilleVax is a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines. Its initial programs, HIL-214 and HIL-216, are virus-like particle (VLP) based vaccine candidates in development for the prevention of moderate-to-severe acute gastroenteritis (AGE) caused by norovirus infection. Globally, norovirus is estimated to result in over approximately 700 million cases of AGE and 200,000 deaths per year, resulting in over $4 billion in direct health system costs and $60 billion in societal costs per year. The burden of norovirus falls disproportionately on young children and older adults. For more information about HilleVax, visit the company\u2019s website at http:\/\/www.HilleVax.com.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

The Company cautions you that statements contained in this report regarding matters that are not historical facts are forward-looking statements. The forward-looking statements are based on the Company\u2019s current beliefs and expectations and include, but are not limited to: the timing and scope of any workforce reductions, the amount and timing of the related charges and costs, and intended objectives and benefits of a workforce reduction; and the Company\u2019s plan to explore the potential for continued development of its norovirus vaccine candidates as well as business development-related activities for these vaccine candidates. Actual results may differ from those set forth in this report due to the risks and uncertainties inherent in the Company\u2019s business, including, without limitation: the preliminary nature of the Company\u2019s estimates of the charges and cash expenditures to be incurred in connection with the recent workforce reduction; the Company may not realize the benefits expected from the workforce reduction, including the Company\u2019s ability to conserve cash; the Company\u2019s ability to retain key personnel; to date the Company has depended primarily on the success of HIL-214, and the Company may be unable to identify a viable development path forward for its vaccine candidates; the Company may be unable to secure partnerships or other strategic collaborations on acceptable terms or at all; and other risks described in the Company\u2019s filings with the Securities and Exchange Commission (SEC), including under the heading \u201cRisk Factors\u201d in the Company\u2019s annual report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.<\/p>\n

\n Contact:<\/strong>\n <\/p>\n

Shane Maltbie
IR@hillevax.com
+1-617-213-5054<\/p>\n

\n
\u00a0\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n HilleVax, Inc. <\/strong>
\n
\n Condensed Consolidated Statement of Operations Data<\/strong>
\n
\n (in thousands, except share and per share data)<\/strong>
\n
\n (unaudited)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Year Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n December\u00a031,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n December\u00a031,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating expenses:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Research and development<\/td>\n\u00a0<\/td>\n$<\/td>\n9,199<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n33,258<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n78,172<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n106,683<\/td>\n\u00a0<\/td>\n<\/tr>\n
In-process research and development<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,325<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
General and administrative<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,138<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,033<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,787<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,662<\/td>\n\u00a0<\/td>\n<\/tr>\n
Restructuring and impairment charges<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,814<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33,007<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total operating expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n36,151<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,291<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n155,291<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133,345<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss from operations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36,151<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(40,291<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(155,291<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(133,345<\/td>\n)<\/td>\n<\/tr>\n
Total other income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,204<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,331<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,779<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss<\/td>\n\u00a0<\/td>\n$<\/td>\n(33,947<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(36,960<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(147,267<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(123,566<\/td>\n)<\/td>\n<\/tr>\n
Net loss per share, basic and diluted<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.68<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.78<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(3.00<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(3.04<\/td>\n)<\/td>\n<\/tr>\n
Weighted-average shares of common stock outstanding, basic and diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49,583,518<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,557,423<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n49,153,125<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40,598,482<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\n HilleVax, Inc. <\/strong>
\n
\n Condensed Consolidated Balance Sheet Data<\/strong>
\n
\n (in thousands)<\/strong>
\n
\n (unaudited)<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n December\u00a031,<\/strong>
\n
\n 2024<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n December\u00a031,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
Cash, cash equivalents and marketable securities<\/td>\n\u00a0<\/td>\n$<\/td>\n171,432<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n303,483<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n192,690<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n344,434<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,204<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n78,909<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154,486<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n265,525<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and stockholders\u2019 equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n192,690<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n344,434<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

$171.4 million of cash, cash equivalents and marketable securities as of December\u00a031, 2024 The company is exploring the potential for continued development of its norovirus vaccine candidates in adults as well as business development related activities and other strategic alternatives BOSTON, March 28, 2025 (GLOBE NEWSWIRE) — HilleVax, Inc. (Nasdaq: HLVX), a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, today reported financial results for the year ended December\u00a031, 2024. Full Year 2024 Financial Results As of December\u00a031, 2024 and December\u00a031, 2023, the company had cash, cash equivalents and marketable securities totaling $171.4 million and $303.5 million, respectively. Research and development expenses for the fourth quarter 2024 were $9.2 million and $78.2 million for the full year ended … <\/p>\n

Continue reading “HilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-831282","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nHilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"$171.4 million of cash, cash equivalents and marketable securities as of December\u00a031, 2024 The company is exploring the potential for continued development of its norovirus vaccine candidates in adults as well as business development related activities and other strategic alternatives BOSTON, March 28, 2025 (GLOBE NEWSWIRE) — HilleVax, Inc. (Nasdaq: HLVX), a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, today reported financial results for the year ended December\u00a031, 2024. Full Year 2024 Financial Results As of December\u00a031, 2024 and December\u00a031, 2023, the company had cash, cash equivalents and marketable securities totaling $171.4 million and $303.5 million, respectively. 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(Nasdaq: HLVX), a clinical-stage biopharmaceutical company focused on developing and commercializing novel vaccines, today reported financial results for the year ended December\u00a031, 2024. Full Year 2024 Financial Results As of December\u00a031, 2024 and December\u00a031, 2023, the company had cash, cash equivalents and marketable securities totaling $171.4 million and $303.5 million, respectively. Research and development expenses for the fourth quarter 2024 were $9.2 million and $78.2 million for the full year ended … Continue reading \"HilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/","og_site_name":"Market Newsdesk","article_published_time":"2025-03-28T21:07:20+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQxMzEzOCM2ODM5NDMxIzIyMzI1OTc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"HilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress","datePublished":"2025-03-28T21:07:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/"},"wordCount":800,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQxMzEzOCM2ODM5NDMxIzIyMzI1OTc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/hillevax-reports-full-year-2024-financial-results-and-highlights-recent-company-progress\/","name":"HilleVax Reports Full Year 2024 Financial Results and Highlights Recent Company Progress - 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