Whitehawk Therapeutics, Inc. WHWK
We are a clinical-stage oncology therapeutics company applying advanced technologies to established tumor biology that are intended to efficiently deliver improved cancer treatments. We have deep experience in chemistry, formulation, and drug delivery, as well as research, clinical, and commercial pharmaceutical development, resulting in successfully taking product candidates from the clinic to approval, launch, and commercialization.
In December 2024, we entered into an intellectual property license agreement (the "WuXi License Agreement") with WuXi Biologics (Shanghai FX) Co., Ltd. ("WuXi Biologics") for the development and global commercialization of a portfolio of three next generation antibody drug conjugates ("ADCs") targeting clinically validated, broadly overexpressed tumor antigens in high potential cancer indications with significant unmet need. These ADCs are constructed utilizing an advanced linker-payload platform called CPT113 that has been shown to provide increased stability in blood circulation and deliver targeted release of a Topoisomerase I ("TOP1") inhibitor payload into cancer cells.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1M | $26.0M | $24.4M | $15.2M | $14.0M | $14.0M | $0 | $20.2M | — | — |
| Cost of revenue | $760.0K | $3.0M | $2.8M | $1.3M | $0 | — | — | — | — | — |
| Gross profit | $6.4M | $23.0M | $21.5M | $13.9M | $14.0M | — | — | — | — | — |
| R&D | $91.0M | $51.0M | $48.9M | $32.7M | $19.7M | $15.0M | $12.8M | $17.9M | $12.1M | $11.4M |
| SG&A | $29.8M | $36.7M | $44.5M | $40.2M | $18.5M | $2.1M | $9.8M | $13.5M | $9.2M | $5.3M |
| Total operating expenses | $121.5M | $93.4M | $96.3M | $77.9M | $112.3M | $17.1M | $24.4M | $31.3M | $21.4M | $16.6M |
| Operating income | -$114.4M | -$67.5M | -$71.9M | -$62.7M | -$111.2M | -$2.5M | -$24.4M | -$11.2M | -$21.4M | -$16.6M |
| Interest expense | $0 | $154.0K | $231.0K | $230.0K | $665.0K | $815.0K | — | — | — | $9.9K |
| Pre-tax income | -$20.6M | -$63.7M | -$65.8M | -$60.5M | -$110.1M | -$3.5M | — | — | — | — |
| Income tax | $0 | $0 | $0 | $0 | $2.0K | $2.0K | — | — | — | — |
| Net income | -$20.6M | -$63.7M | -$65.8M | -$60.5M | -$110.1M | -$3.5M | -$23.3M | -$10.4M | -$21.4M | -$17.0M |
| EPS, basic | -0.33 | -2.36 | -2.44 | -2.69 | -12.41 | — | — | — | — | — |
| EPS, diluted | -0.33 | -2.36 | -2.44 | -2.69 | -12.41 | -1.76 | -0.57 | -0.31 | -1.03 | -24.52 |
| Shares, diluted (wtd. avg.) | 61.9M | 27.0M | 26.9M | 22.5M | 8.9M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $37.6M | $28.7M | $62.9M | $39.0M | $149.0M | $4.5M | $38.5M | $62.6M | $20.3M | $1.6M |
| Short-term investments | $108.1M | $18.6M | $46.0M | $133.5M | $0 | — | — | — | — | $50.0K |
| Receivables | $0 | $5.9M | $5.5M | $1.9M | $0 | $14.1M | — | — | — | $4.2K |
| Inventory | $0 | $5.3M | $6.4M | $1.9M | $0 | — | — | — | — | — |
| Total current assets | $149.0M | $61.3M | $124.6M | $180.0M | $151.3M | $18.7M | $39.6M | $64.0M | $20.9M | $2.2M |
| Property, plant and equipment | $3.0K | $6.8M | $4.8M | $508.0K | $57.0K | $21.0K | $164.2K | $98.4K | $107.2K | $149.6K |
| Other intangibles | — | — | — | $0 | $3.8M | $0 | — | — | — | — |
| Total assets | $150.8M | $70.3M | $132.4M | $184.2M | $157.9M | $18.8M | $39.9M | $64.1M | $21.0M | $2.4M |
| Accounts payable | $917.0K | $2.2M | $5.9M | $3.5M | $6.4M | $2.4M | $439.8K | $595.7K | $1.3M | $1.1M |
| Total current liabilities | $14.5M | $17.1M | $26.4M | $18.8M | $15.3M | $30.1M | $3.3M | $5.5M | $3.6M | $14.9M |
| Total liabilities | $14.5M | $17.8M | $27.2M | $25.9M | $21.5M | $31.3M | $3.4M | $5.5M | — | — |
| Retained earnings | -$353.2M | -$332.7M | -$269.0M | -$203.2M | -$142.7M | -$32.6M | -$142.2M | -$119.0M | -$108.6M | -$86.2M |
| Total equity | $136.3M | $52.5M | $105.2M | $158.4M | $136.4M | -$12.4M | -$9.1M | $58.7M | $17.4M | -$86.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$97.4M | -$59.5M | -$59.7M | -$49.6M | -$22.4M | -$12.7M | -$23.9M | -$5.8M | -$18.9M | -$15.7M |
| Depreciation and amortisation | $79.0K | $193.0K | $169.0K | $159.0K | $105.0K | $9.0K | $76.5K | $46.7K | $51.3K | $69.7K |
| Stock-based compensation | $9.9M | $10.8M | $12.0M | $9.6M | $2.1M | $139.0K | $1.1M | $3.4M | $649.4K | $488.3K |
| Capital expenditure | $552.0K | $1.7M | $4.0M | $444.0K | $46.0K | $19.0K | $237.0K | $37.9K | $8.9K | $113.3K |
| Investing cash flow | $11.9M | $25.2M | $83.2M | -$132.9M | $25.2M | -$19.0K | -$237.0K | -$37.9K | $41.1K | -$113.3K |
| Financing cash flow | $94.4M | $130.0K | $326.0K | $72.6M | $141.8M | $1.2M | — | $48.2M | $37.5M | $12.3M |
| Dividends paid | — | — | — | $0 | $4.4M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-187149.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $20.2M | $0 | $14.0M | $14.0M | $15.2M | $24.4M | $26.0M | $7.1M |
| Gross profit | — | — | — | — | — | $14.0M | $13.9M | $21.5M | $23.0M | $6.4M |
| Net income | -$17.0M | -$21.4M | -$10.4M | -$23.3M | -$3.5M | -$110.1M | -$60.5M | -$65.8M | -$63.7M | -$20.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Results announced Item 2.02
- Shareholder vote Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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