HOOKIPA Pharma Announces Proposed Public Offering of Common Stock and Non-Voting Convertible Preferred Stock NEW YORK and

HOOKIPA Pharma Announces Proposed Public Offering

of Common Stock and Non-Voting Convertible Preferred Stock

NEW YORK and VIENNA, Austria, March 1, 2022 -

Pharma Inc. (Nasdaq: HOOK), a company developing a new class of immunotherapeutics based on its proprietary arenavirus platform, today

announced that it intends to offer and sell shares of its common stock and shares of its non-voting Series A convertible preferred

stock in an underwritten public offering (the "Offering"). HOOKIPA also intends to grant the underwriters a 30-day option

to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the Offering, including the shares of

common stock underlying the non-voting Series A convertible preferred stock. The Offering is subject to market and other conditions,

and there can be no assurance as to whether or when the Offering may be completed, or as to the size or terms of the offering. All of

the securities in the Offering are to be sold by HOOKIPA.

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 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 preliminary 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

This press release 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

Executive Director - Investor Relations