Every 10-Q that Werewolf Therapeutics, Inc. (HOWL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HOWL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HOWL filings page.
Werewolf Therapeutics reported $21.0 million collaboration revenue in the second quarter of 2026 from selling its IFNα 898 Program to Jazz Pharmaceuticals, producing quarterly net income of $3.7 million after a prior-year loss. For the first half of 2026, the company still recorded a net loss of $9.9 million as R&D fell to $14.3 million and G&A rose to $12.8 million, reflecting a sharp pullback in development spending and higher advisory and legal costs tied to a strategic review.
Werewolf ended June 30, 2026 with $22.0 million in cash and cash equivalents and has fully repaid its $30.0 million K2 HealthVentures term loan via a $31.4 million payment, eliminating secured debt but triggering a $3.4 million extinguishment loss. Management discloses “substantial doubt” about the ability to continue as a going concern for at least twelve months and is exploring strategic alternatives, including a sale or partnerships, while executing a 2026 restructuring with major workforce reductions and an expected $6.5 million in total restructuring costs. Lead oncology programs WTX-124 and WTX-330 remain in early-stage trials targeted to complete in the fourth quarter of 2026, but further development will require additional funding or partners.
Werewolf Therapeutics reported a Q1 2026 net loss of $13.5 million, or $0.28 per share. Operating expenses fell to $13.3 million from $18.0 million a year earlier, driven mainly by lower R&D spending. Cash and cash equivalents were $46.5 million as of March 31, 2026, with $10.6 million used in operating activities during the quarter.
The company adopted a 2026 restructuring plan, cutting 64% of its workforce and recording $4.3 million of related charges. Management discloses substantial doubt about its ability to continue as a going concern without additional financing or strategic transactions.
After quarter-end, Werewolf sold its JZP898 program to Jazz Pharmaceuticals for $21.0 million upfront plus a potential $2.0 million, repaid approximately $31.4 million outstanding under its K2 HealthVentures term loan, and agreed to terminate its headquarters lease early for a $2.7 million fee.
Werewolf Therapeutics (HOWL) filed its Q3 2025 report, highlighting continued operating losses and a liquidity warning. The company reported a Q3 net loss of $16.4 million and a nine‑month net loss of $52.4 million. Revenue was $0 for the quarter and year‑to‑date, following prior collaboration revenue in 2024.
Cash and cash equivalents were $65.7 million as of September 30, 2025, down from $111.0 million at year‑end 2024, after $49.3 million used in operating activities year‑to‑date. Management states there is substantial doubt about the company’s ability to continue as a going concern and is evaluating options to raise additional capital. The company sold 2,360,186 shares via its ATM for net proceeds of $3.6 million in the first nine months.
R&D expense was $11.6 million and G&A was $4.1 million in Q3. Debt includes a $30.0 million K2HV term loan at a coupon of 10.3% (effective rate disclosed at 19.24%) and a related derivative liability of $2.6 million. Clinical programs continue: WTX‑124 is in Phase 1/1b with planned interim data in Q4 2025, and WTX‑330 has advanced to Phase 1b/2 with an update also planned in Q4 2025.
Werewolf Therapeutics (HOWL) reported continued clinical progress while managing a substantial cash burn. The company held $77.6 million of cash and cash equivalents and of total assets as of June 30, 2025, supporting operations for at least the next twelve months per management. Werewolf recognized no collaboration revenue in the first half of 2025 after completing a transfer of its Jazz collaboration obligations in 2024, and reported a $36.1 million net loss for the six months ended June 30, 2025, widening its accumulated deficit to $450.7 million.
The company advanced its lead programs: WTX-124 has a selected recommended dose and active monotherapy and combination expansion arms with interim data planned for the second half of 2025, and WTX-330 completed Phase 1 and initiated a Phase 1b/2 trial, dosing its first patient. Operating expense reductions versus prior year reflect lower manufacturing and R&D spend for select programs, partially offset by continued clinical and development costs.
Balance sheet and financing items include a $30.0 million term loan carrying a high effective interest cost (reported effective rate ~19.24%) with embedded conversion features and a derivative liability. Management states additional funding will be necessary beyond the 12-month runway to continue development activities.