HilleVax reported a net loss of $11.3 million for the six months ended June 30, 2025, a substantial reduction from $87.5 million in the same period of 2024. The company maintained a cash, cash equivalents, and marketable securities balance of $159.5 million as of June 30, 2025.
Research and development (R&D) expenses for the first half of 2025 were $3.3 million, significantly down from $52.6 million in the first half of 2024, primarily due to lower clinical development costs. General and administrative (G&A) expenses also decreased to $11.3 million from $16.6 million in the prior year's first half, reflecting lower personnel-related costs.
The company also announced on August 4, 2025, that it entered into a definitive merger agreement with XOMA Royalty Corporation. Under the terms, HilleVax stockholders will receive $1.95 in cash per share plus one non-transferable contingent value right (CVR) at the closing of the merger, which is expected in September 2025.
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