Why did HOOK's Q4 2023 earnings exceed forecasts?

HOOKIPA Pharma's Q4 2023 earnings exceeded forecasts due to a significant increase in revenue from collaboration and licensing activities, primarily driven by the following factors:

1. **Upfront and Milestone Payments from Roche Collaboration**: HOOKIPA received higher partial recognition of upfront and milestone payments under its collaboration agreement with Roche. This resulted in a substantial increase in revenue, contributing to the overall growth in earnings.
2. **Gilead Collaboration**: The company's collaboration with Gilead also contributed to the revenue growth. Although specific financial details were not provided, the achievement of success-based milestone payments under this collaboration likely played a role in the revenue exceeding expectations.

In summary, HOOKIPA's Q4 2023 earnings exceeded forecasts due to a combination of increased revenue from collaboration and licensing activities, particularly from the Roche and Gilead collaborations.