Whitehawk Therapeutics (WHWK) Q4 2025 earnings summary

Executive summary

• Advanced two antibody-drug conjugates (HWK-007 and HWK-016) into active Phase 1 trials, targeting PTK7 and MUC16 in various cancers.

• Appointed a new Chief Medical Officer with extensive oncology experience.

• Presented data confirming PTK7 as a highly expressed, clinically relevant tumor marker.

Financial highlights

• Cash, cash equivalents, and short-term investments totaled $145.7M at year-end 2025, up from $47.2M at year-end 2024.

• Net loss for Q4 2025 was $23.3M, compared to $18.3M in Q4 2024.

• Full-year 2025 net loss was $20.6M, significantly improved from $63.7M in 2024, aided by an $87.3M gain from the divestiture of a subsidiary.

• Revenue for 2025 was $25.98M, up from $5.87M in 2024.

Outlook and guidance

• Cash reserves expected to fund operations into 2028.

• IND submission for HWK-206 planned for mid-2026, with Phase 1 trial recruitment to start in Q3 2026.

• Initial Phase 1 results for HWK-007 and HWK-016 anticipated in 1H 2027.

• Preclinical data across the portfolio to be presented in Spring 2026.