Whitehawk Therapeutics Q3 loss widens to $21.2M
Whitehawk expects its $169.7 million in cash, equivalents and short-term investments to fund operations into 2H 2028 based on current plans.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Whitehawk Therapeutics, Inc. (WHWK) reported a third-quarter 2026 net loss of $21.2 million, compared with $17.7 million a year earlier. Research and development expense was $18.1 million, versus $14.3 million. Quarterly revenue was $0 in both periods; for the first nine months of 2026, revenue was $0 versus $7.145 million in 2025. Cash, cash equivalents and short-term investments totaled $169.7 million as of September 30, 2026, versus $145.7 million as of December 31, 2025; the company expects these resources to fund operations into the second half of 2028 based on current plans.
Whitehawk initiated the U.S. Phase 1 trial of HWK-206 and received FDA Fast Track designation. The dose-escalation portion starts at 3 mg/kg and initially focuses on small-cell lung cancer; initial data are expected by year-end 2027. The company continues Phase 1 trials of HWK-007 and HWK-016 and remains on track to report initial data in the first half of 2027. Whitehawk submitted an Investigational New Drug application in China for HWK-206 and anticipates activating its first clinical sites there in the first quarter of 2027. Vijay Iyengar, MD, was appointed to the board.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- None.
Negative
- Moderate pointThird-quarter net loss was $21.2 million, compared with $17.7 million in 2025.
- Moderate pointNine-month revenue was $0, versus $7.145 million in 2025.
8-K Event Classification
Key Figures
Key Terms
antibody drug conjugate (ADC) technical
TOP1i-linker payload technical
Fast Track designation regulatory
Investigational New Drug (IND) application regulatory
biparatopic technical
Earnings Snapshot
Cash, cash equivalents and short-term investments of $169.7 million as of September 30, 2026, were anticipated to fund operations into the second half of 2028 based on current plans.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much cash did WHWK report at September 30, 2026?
What was WHWK's third-quarter 2026 net loss?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
||
|
|
|
|
|
|
||||
|
||||
(Address of Principal Executive Offices) |
|
(Zip Code) |
||
Registrant’s Telephone Number, Including Area Code: |
|
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
|
|
Trading |
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 9, 2026, Whitehawk Therapeutics, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
All of the information furnished in this Item 2.02 and Item 9.01 (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
|
|
|
|
|
|
|
|
|
Exhibit Number |
|
Description |
||||||
|
|
|
||||||
99.1 |
|
Press Release, dated November 9, 2026 |
||||||
|
|
|
||||||
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
WHITEHAWK THERAPEUTICS, INC. |
|
|
|
|
Date: |
November 9, 2026 |
By: |
/s/ Scott Giacobello |
|
|
|
Scott Giacobello |
PRESS RELEASE
Whitehawk Therapeutics Reports Third Quarter 2026 Financial Results and Recent Highlights
On track to report initial Phase 1 data from HWK-007 and HWK-016 in 1H’27
Initiated Phase 1 trial for HWK-206 in the U.S., the third Whitehawk program to enter the clinic in the last 12 months; HWK-206 received Fast Track designation from the FDA
Cash, cash equivalents and short-term investments of $169.7 million as of September 30, 2026, anticipated to fund operations into 2H 2028
MORRISTOWN, NJ, November 9, 2026 /PRNewswire/ -- Whitehawk Therapeutics, Inc. (Nasdaq: WHWK), a clinical-stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently develop improved antibody drug conjugate (ADC) cancer treatments, today announced financial results for the quarter ended September 30, 2026, and provided recent corporate highlights.
“We continue to dose escalate patients in our Phase 1 programs for HWK-007 and HWK-016 and remain on track to report initial data in the first half of 2027,” said Dave Lennon, PhD, President and Chief Executive Officer of Whitehawk Therapeutics. “We also initiated the Phase 1 trial of HWK-206, marking the advancement of all three of our original ADC programs into clinical development within the last 12 months. With its improved biparatopic design, HWK-206 has demonstrated enhanced preclinical antitumor activity compared to other SEZ6-targeted ADCs. Our global clinical development strategy is focused on efficiently evaluating how these preclinical attributes translate in patients with small-cell lung cancer.”
Q3 2026 and Recent Operational Highlights:
PRESS RELEASE
Q3 2026 Financial Results:
Upcoming Investor Conferences:
About Whitehawk Therapeutics
Whitehawk Therapeutics is a clinical-stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently develop improved antibody drug conjugate (ADC) cancer treatments. Whitehawk's portfolio includes HWK-007, HWK-016 and HWK-206, ADCs 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
PRESS RELEASE
agreement. Whitehawk's underlying ADC platform leverages CPT113 as the core linker-payload technology, enhanced with its proprietary Carbon Bridge Cysteine Re-pairing (CBCR) bioconjugation process to support improved stability and therapeutic index.
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, statements relating to: the potential therapeutic value and market opportunity for the Company's ADC portfolio; plans related to the Company's development of its portfolio of ADC assets, including the anticipated timing of the initial Phase 1 data from clinical trials for HWK-007 and HWK-016 in 1H 2027 and for HWK-206 by year-end 2027, and the anticipated timing of activating our first clinical sites in China for the HWK-206 Phase 1 trial in Q1 2027; expectations regarding the beneficial characteristics, design features, safety, efficacy, therapeutic effects and the size of the potential targeted markets with respect to the Company's ADC assets; and the sufficiency of the Company's existing capital resources and the expected timeframe to fund the Company's 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 ADC portfolio, including potential delays in the commencement, enrollment and completion of clinical trials; failure to demonstrate the efficacy of the ADC 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
PRESS RELEASE
WHITEHAWK THERAPEUTICS, INC. |
CONDENSED CONSOLIDATED BALANCE SHEETS |
(In thousands) |
(Unaudited) |
|
|
September 30, |
|
|
December 31, |
|
||
Assets |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
68,973 |
|
|
$ |
37,568 |
|
Short-term investments |
|
|
100,699 |
|
|
|
108,129 |
|
Prepaid expenses and other current assets |
|
|
2,299 |
|
|
|
3,316 |
|
Total current assets |
|
|
171,971 |
|
|
|
149,013 |
|
Property and equipment, net |
|
|
3 |
|
|
|
3 |
|
Operating lease right-of-use assets |
|
|
212 |
|
|
|
— |
|
Other assets |
|
|
1,500 |
|
|
|
1,814 |
|
Total assets |
|
$ |
173,686 |
|
|
$ |
150,830 |
|
|
|
|
|
|
|
|
||
Liabilities and stockholders’ equity |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
2,224 |
|
|
$ |
917 |
|
Accrued liabilities |
|
|
8,087 |
|
|
|
13,602 |
|
Operating lease liabilities, current portion |
|
|
130 |
|
|
|
— |
|
Total current liabilities |
|
|
10,441 |
|
|
|
14,519 |
|
Operating lease liabilities, net of current portion |
|
|
88 |
|
|
|
— |
|
Total liabilities |
|
|
10,529 |
|
|
|
14,519 |
|
Stockholders’ equity: |
|
|
|
|
|
|
||
Common stock |
|
|
5 |
|
|
|
4 |
|
Additional paid-in capital |
|
|
576,661 |
|
|
|
489,437 |
|
Accumulated other comprehensive (loss) income |
|
|
(216 |
) |
|
|
120 |
|
Accumulated deficit |
|
|
(413,293 |
) |
|
|
(353,250 |
) |
Total stockholders’ equity |
|
|
163,157 |
|
|
|
136,311 |
|
Total liabilities and stockholders’ equity |
|
$ |
173,686 |
|
|
$ |
150,830 |
|
WHITEHAWK THERAPEUTICS, INC. |
PRESS RELEASE
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|
(In thousands, except share data and earnings per share amounts) |
|
(Unaudited) |
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Product sales, net |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,145 |
|
Total revenue |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
7,145 |
|
Operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Selling, general and administrative |
|
|
4,805 |
|
|
|
5,201 |
|
|
|
16,311 |
|
|
|
23,956 |
|
Research and development |
|
|
18,138 |
|
|
|
14,345 |
|
|
|
48,263 |
|
|
|
71,942 |
|
Cost of goods sold |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
760 |
|
Total operating expenses |
|
|
22,943 |
|
|
|
19,546 |
|
|
|
64,574 |
|
|
|
96,658 |
|
Loss from operations |
|
|
(22,943 |
) |
|
|
(19,546 |
) |
|
|
(64,574 |
) |
|
|
(89,513 |
) |
Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Gain on sale of business |
|
|
— |
|
|
|
(177 |
) |
|
|
— |
|
|
|
87,266 |
|
Foreign exchange loss |
|
|
(3 |
) |
|
|
— |
|
|
|
(9 |
) |
|
|
(3 |
) |
Other income |
|
|
— |
|
|
|
127 |
|
|
|
— |
|
|
|
285 |
|
Interest income |
|
|
1,737 |
|
|
|
1,850 |
|
|
|
4,540 |
|
|
|
4,620 |
|
Total other income (expense), net |
|
|
1,734 |
|
|
|
1,800 |
|
|
|
4,531 |
|
|
|
92,168 |
|
(Loss) income before income tax expense |
|
|
(21,209 |
) |
|
|
(17,746 |
) |
|
|
(60,043 |
) |
|
|
2,655 |
|
Income tax expense (benefit) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net (loss) income |
|
$ |
(21,209 |
) |
|
$ |
(17,746 |
) |
|
$ |
(60,043 |
) |
|
$ |
2,655 |
|
Other comprehensive (loss) income: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Unrealized (loss) gain on investments, net of tax |
|
|
(153 |
) |
|
|
130 |
|
|
|
(336 |
) |
|
|
123 |
|
Comprehensive (loss) income |
|
|
(21,362 |
) |
|
|
(17,616 |
) |
|
|
(60,379 |
) |
|
|
2,778 |
|
Net (loss) income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
$ |
(0.23 |
) |
|
$ |
(0.26 |
) |
|
$ |
(0.73 |
) |
|
$ |
0.04 |
|
Diluted |
|
$ |
(0.23 |
) |
|
$ |
(0.26 |
) |
|
$ |
(0.73 |
) |
|
$ |
0.04 |
|
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
|
93,866,642 |
|
|
|
69,204,899 |
|
|
|
82,086,813 |
|
|
|
59,417,911 |
|
Diluted |
|
|
93,866,642 |
|
|
|
69,204,899 |
|
|
|
82,086,813 |
|
|
|
60,057,872 |
|