Whitehawk Therapeutics Expands ADC Pipeline with New Option Agreement for Use of CPT113 Linker-Payload
Rhea-AI Summary
Whitehawk Therapeutics (Nasdaq: WHWK) entered an option agreement with Hangzhou DAC for access to CPT113 in up to five new, internally developed ADC programs, including possible dual‑payloads. Whitehawk keeps global rights and program control and plans multiple IND filings over the next 12‑24 months.
Phase 1 dose‑escalation trials of HWK‑007 and HWK‑016 are enrolling, with data expected in 1H 2027. External programs DXC006 and JNJ‑95437446 also use CPT113, supporting confidence in Whitehawk's ADC platform and its CBCR bioconjugation process.
AI-generated analysis. Not financial advice.
Positive
- Option for up to five additional CPT113-based ADC programs with global rights
- Multiple new IND submissions expected within 12–24 months
- Phase 1 trials for HWK-007 and HWK-016 actively enrolling patients
- DXC006 ASCO abstract suggests clinical activity and favorable safety profile for CPT113
- JNJ-95437446 preclinical data support ongoing Phase 1 development with CPT113
- CBCR platform shows higher DAR and improved therapeutic index versus DXC006 in nonclinical measures
Negative
- Clinical data for HWK-007 and HWK-016 not expected until first half of 2027
- HWK-007 and HWK-016 remain in early Phase 1 dose-escalation stages
News Market Reaction – WHWK
On the day this news was published, WHWK gained 4.42%, reflecting a moderate positive market reaction. Argus tracked a peak move of +4.5% during that session. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $10M to the company's valuation, bringing the market cap to $231.98M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
WHWK gained 3.69% with low volume, while several biotech peers like IFRX, IPA, ORMP and SRZN also rose modestly. However, no peers appeared in the momentum scanner and sector moves were not flagged as coordinated.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 20 | Conference participation | Neutral | +1.5% | Announced CEO fireside chat at TD Cowen oncology innovation summit. |
| May 15 | Conference participation | Neutral | -7.8% | Planned appearance at Stifel Virtual Targeted Oncology Forum. |
| May 13 | Private placement financing | Positive | +25.8% | Announced approximately $87.5M private placement to fund ADC pipeline and extend runway. |
| May 7 | Earnings update | Negative | -5.1% | Reported Q1 2026 net loss and higher R&D with no current product revenue. |
| Apr 19 | Preclinical data | Positive | +2.9% | Presented AACR 2026 preclinical ADC data showing tumor regressions and favorable tolerability. |
Shares have tended to respond positively to ADC pipeline and financing updates, while earnings and some conference notices have seen weaker or negative reactions.
Over the past month, WHWK highlighted multiple ADC-focused milestones. On Apr 19, preclinical AACR 2026 data on HWK-007, HWK-016 and HWK-206 drew a modest gain. Q1 2026 results on May 7 brought a wider net loss and saw selling. An $87.5M private placement announced May 13 was well-received. Subsequent conference-participation press releases produced mixed, generally modest moves. Today’s option agreement extends that ADC pipeline build-out narrative.
Market Pulse Summary
This announcement expands Whitehawk’s ADC platform through an option for up to five new CPT113-based programs, complementing ongoing Phase 1 trials for HWK-007 and HWK-016. Recent history shows active pipeline building, preclinical presentations and fresh financing to support development. Investors may focus on IND timing over the next 12–24 months, Phase 1 dose-escalation progress, and the quality of emerging data in 2027 as key markers of execution on this strategy.
Key Terms
antibody drug conjugate medical
investigational new drug regulatory
dose escalation medical
drug-to-antibody ratio medical
small-cell lung cancer medical
non-small cell lung cancer medical
neuroendocrine neoplasms medical
phase 1 medical
AI-generated analysis. Not financial advice.
Agreement with Hangzhou DAC Provides Option for Up to Five New, Internally Developed ADC Programs, Including Dual-Payload Variations
Hangzhou DAC's DXC006 Data at ASCO Reinforce Conviction for CPT113, a Core Technology of Whitehawk's ADC Platform
Phase 1 Dose-Escalation Trials of HWK-007 and HWK-016 are Currently Enrolling; HWK-007 Trials-in-Progress Poster to be Presented at ASCO
Per the terms of the option agreement, Whitehawk will select targets and source antibodies, while retaining global rights and full program control for the new ADC programs. Whitehawk anticipates submitting Investigational New Drug (IND) applications for multiple new programs over the next 12-24 months.
"This option agreement reflects our conviction in CPT113 as the core linker-payload foundation of our ADC platform, supported both by increasing external validation and by what we are seeing in our own existing programs. By layering on our proprietary CBCR bioconjugation process, we believe we further enhance ADC stability to deliver potential best-in-class ADCs," said Dave Lennon, PhD, President and Chief Executive Officer of Whitehawk Therapeutics. "With HWK-007 and HWK-016 enrolling, and an IND for HWK-206 anticipated mid-year, we are building execution momentum across our portfolio. We now have the opportunity to further scale our pipeline and advance novel ADC programs toward the clinic in the next 12-24 months."
External Programs Validate CPT113 Linker-Payload Technology
Hangzhou DAC's DXC006 is a CD56-directed ADC that utilizes CPT113. DXC006 is being evaluated in first-in-human Phase 1 dose escalation/expansion study in
Separately, at the American Association for Cancer Research (AACR) Annual Meeting, Johnson & Johnson disclosed JNJ‑95437446, an amivantamab-based EGFR/MET ADC that uses CPT113. In the poster, JNJ‑95437446 reported preclinical findings that support its ongoing Phase 1 clinical development (NCT07107230).
Whitehawk's ADC platform builds on the CPT113 linker-payload technology with its proprietary CBCR bioconjugation process. Based on key nonclinical measures, Whitehawk's CBCR-based ADC platform has demonstrated higher Drug-to-Antibody Ratio (DAR) and improved therapeutic index compared to DXC006. Whitehawk recently reported comprehensive preclinical data for its existing pipeline programs at AACR.
Whitehawk's Clinical Pipeline
Phase 1 trials for PTK7-directed HWK-007 and MUC16-directed HWK-016 are advancing through dose-escalation, with data expected in the first half of 2027. Based on non-clinical modeling, both programs' starting dose is expected to be above the anticipated minimally effective dose.
- HWK-007 completed the first dose cohort at 2 mg/kg and is enrolling the second cohort at 4 mg/kg. HWK‑007 is being evaluated in patients with non-squamous, EGFR wild-type non-small cell lung cancer; platinum-resistant ovarian cancer; and endometrial cancer (NCT07444814). The design of this Phase 1 study will be presented during a Trials-in-Progress poster at ASCO.
- Title: A phase 1 study of HWK-007, a next-generation, protein tyrosine kinase 7 (PTK7)-targeted antibody-drug conjugate (ADC), in patients with advanced solid tumors
- Date & Time: May 30, 2026, 1:30-4:30 PM CDT
- Poster: 292b
- HWK-016 is enrolling the first dose cohort at 2.5 mg/kg. HWK‑016 is being evaluated in patients with advanced ovarian and endometrial cancers (NCT07470853).
About Whitehawk Therapeutics
Whitehawk Therapeutics is a clinical-stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved cancer treatments. Whitehawk's advanced three-asset ADC portfolio is engineered to overcome the limitations of first-generation predecessors to deliver a meaningful impact for patients with difficult-to-treat cancers. These assets are in-licensed from WuXi Biologics under an exclusive development and global commercialization agreement. More information on the Company is available at www.whitehawktx.com and connect with us on LinkedIn. Any references to the Company's website or other online resources are provided solely for convenience and are not incorporated by reference into this press release. Investors should rely only on the information contained in this press release and the Company's filings with the Securities and Exchange Commission.
Forward Looking Statements
This press release contains certain forward-looking statements regarding the business of Whitehawk Therapeutics that are not a description of historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company's current beliefs and expectations and may include, but are not limited to, the anticipated timing of the Company's development of the new programs under its option agreement with Hangzhou DAC, including the expected submission of Investigational New Drug applications for multiple new programs over the next 12-24 months; anticipated timing of initial Phase 1 data from clinical trials for HWK-007 and HWK-016 in 1H 2027 and expectations with respect to both programs' starting dose; statements relating to expectations regarding the beneficial characteristics, optimized ADC design features, safety, efficacy, and therapeutic effects of the Company's portfolio, including expected enhanced ADC stability to deliver potential best-in-class ADCs; and the sufficiency of the Company's existing capital resources and the expected timeframe to fund its future operating expenses and capital expenditure requirements. Actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, uncertainties associated with preclinical and clinical development of the Company's portfolio, including failure to demonstrate the efficacy of the such portfolio in preclinical and clinical studies; the risk that unforeseen adverse reactions or side effects may occur in the course of testing of the ADC assets; and risks related to the Company's estimates regarding future expenses, capital requirements and need for additional financing.
Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, including under the caption "Item 1A. Risk Factors," and in Whitehawk's subsequent Quarterly Reports on Form 10-Q, and elsewhere in Whitehawk's reports and other documents that Whitehawk has filed, or will file, with the SEC from time to time and available at www.sec.gov.
All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Whitehawk undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This cautionary statement is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Contact:
IR@whitehawktx.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/whitehawk-therapeutics-expands-adc-pipeline-with-new-option-agreement-for-use-of-cpt113-linker-payload-302779285.html
SOURCE Whitehawk Therapeutics, Inc.