Roche ends KRAS deal with Hookipa Phar­ma, as biotech lays off 30% of staff

Roche is wav­ing good­bye to a KRAS pro­gram it part­nered on less than a year and a half ago.

The Swiss con­glom­er­ate end­ed its col­lab­o­ra­tion agree­ment with Hookipa Phar­ma that aimed to co-de­vel­op a com­pound called HB-700, Hookipa an­nounced Mon­day. The deal, signed in Oc­to­ber 2022, al­so in­clud­ed an op­tion for a sec­ond im­munother­a­py can­di­date and was worth up to al­most $1 bil­lion if both pro­grams hit all their mile­stones. Hookipa shares $HOOK, al­ready be­low $1 apiece, fell about 16% in ear­ly Mon­day trad­ing.

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