HOOKIPA Pharma Announces Pricing of $75.0 Million Public Offering of Common Stock and Non-Voting Convertible Preferred Stock NEW YORK and

HOOKIPA Pharma Announces Pricing of $75.0 Million

Public Offering of Common Stock and Non-Voting Convertible Preferred Stock

NEW YORK and VIENNA, Austria, March 2,

2022 - HOOKIPA Pharma Inc. (Nasdaq: HOOK),

a company developing a new class of immunotherapeutics based on its proprietary arenavirus platform, today announced the pricing of an

underwritten public offering of 21,700,000 shares of its common stock and 15,800 shares of its non-voting Series A-1 convertible preferred

stock (the "Offering"). The public offering price of each share of common stock is $2.00 and the public offering price of

each share of non-voting Series A-1 preferred stock is $2,000 (each share of non-voting Series A-1 preferred stock is convertible into

1,000 shares of common stock). HOOKIPA has granted the underwriters a 30-day option to purchase up to an additional 5,625,000 shares of

its common stock at the public offering price of the common stock, less underwriting discounts and commissions. The gross proceeds to

HOOKIPA from this offering are expected to be $75.0 million, before deducting underwriting discounts and commissions and other offering

expenses and excluding any exercise of the underwriters' option to purchase additional shares. All of the securities in the Offering

are to be sold by HOOKIPA. The Offering is expected to close on March 4, 2022, subject to customary closing conditions.

SVB Leerink and RBC Capital Markets are acting

as joint book-running managers of the Offering.

The securities described above are being offered

by HOOKIPA pursuant to a shelf registration statement on Form S-3 (No. 333-238311), including a base prospectus filed with the Securities

and Exchange Commission (the "SEC"), which was declared effective on May 27, 2020. A preliminary prospectus supplement has

been filed with the SEC. A final prospectus supplement and accompanying prospectus relating to the Offering will be filed with the SEC

and will be available on the SEC's website located at www.sec.gov. Copies of the final prospectus supplement and the accompanying

prospectus may also be obtained, when available, from SVB Securities LLC, Attention: Syndicate Department, 53 State Street, 40th Floor,

Boston Massachusetts 02109, by telephone at 1-800-808-7525 ext. 6105, or by email at syndicate@svbleerink.com; RBC Capital Markets,

LLC, Attention: Equity Capital Markets, 200 Vesey Street, New York, NY 10281, by telephone at 877-822-4089, or by email at equityprospectus@rbccm.com.

This press release shall not constitute an offer

to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction

in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such

state or jurisdiction.

HOOKIPA Pharma Inc. (NASDAQ: HOOK) is a clinical-stage biopharmaceutical

company focused on developing novel immunotherapies, based on its proprietary arenavirus platform, that are designed to mobilize and amplify

targeted T cells and thereby fight or prevent serious disease. HOOKIPA's replicating and non-replicating technologies are engineered

to induce robust and durable antigen-specific CD8+ T cell responses and pathogen-neutralizing antibodies. HOOKIPA's pipeline includes

its wholly-owned investigational arenaviral immunotherapeutics targeting HPV16+ cancers, prostate cancer, KRAS-mutated cancers (including

colorectal, pancreatic and lung), and other undisclosed programs. In addition, HOOKIPA aims to develop functional cures of HBV and HIV

in collaboration with Gilead.

Forward-Looking Statement

contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including,

but not limited to, statements regarding the completion of the proposed offering and the use of proceeds from the proposed offering. The

use of words such as "may," "might," "will," "should," "expect," "plan,"

"anticipate," "believe," "estimate," "project," "intend," "future,"

"potential," or "continue," and other similar expressions are intended to identify such forward-looking statements.

All such forward-looking statements are based on management's current expectations of future events and are subject to a number of risks

and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking

statements. These risks and uncertainties include, without limitation, uncertainties related to market conditions and the completion of

the Offering on favorable terms or at all and those risks more fully discussed in the section entitled "Risk Factors" in

HOOKIPA's annual report on Form 10-K for the fiscal year ended December 31, 2020, as well as discussions of potential risks, uncertainties,

and other important factors in HOOKIPA's subsequent filings with the Securities and Exchange Commission, including in connection

with the Offering. Any forward-looking statements represent HOOKIPA's views only as of today and should not be relied upon as representing

its views as of any subsequent date. 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.

For further information, please contact: