Whitehawk Therapeutics Inc
- Open
- 4.00
- Day high
- 4.06
- Day low
- 3.81
- Prev close
- 3.97
- Volume
- 504K
- Mkt cap
- $190M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.6
- P/S
- —
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.5M over the last 3 months (0 open-market buys, 6 sales)
Whitehawk Therapeutics Inc (WHWK) is a Healthcare company listed on NASDAQ. The stock is up 108% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Whitehawk Therapeutics Inc (WHWK) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
WHWK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.36 | $-0.32 | +11.1% | — | — |
| Mar 12, 2026 | $-0.48 | $-0.34 | +29.5% | — | — |
| Nov 6, 2025 | $-0.51 | $-0.26 | +49.0% | — | — |
| Aug 7, 2025 | $0.49 | $-0.76 | -255.1% | — | — |
| May 8, 2025 | $-0.46 | $-0.36 | +21.7% | $7M | — |
| Mar 18, 2025 | $-0.22 | $-0.67 | -204.5% | $7M | — |
WHWK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 15, 2026 | Reeve Emmadirector | Grant | 38,040 | $4.16 |
| Jun 15, 2026 | Zhao Baitengdirector | Grant | 38,040 | $4.16 |
| Jun 15, 2026 | Aghazadeh Behzaddirector, 10 percent owner, other: See remarks | Grant | 38,040 | $4.16 |
| Jun 15, 2026 | Castelein Caleydirector | Grant | 38,040 | $4.16 |
| Jun 15, 2026 | Desai Neildirector | Grant | 38,040 | $4.16 |
| Jun 15, 2026 | Hirmand Mohammaddirector | Grant | 38,040 | $4.16 |
| Jun 15, 2026 | Maroun Richard Edirector | Grant | 38,040 | $4.16 |
| May 18, 2026 | BALL BRYANofficer: See remarks | Grant | 51,020 | $3.92 |
| May 18, 2026 | Dugan Margaretofficer: Chief Medical Officer | Grant | 19,132 | $3.92 |
| May 18, 2026 | Castelein Caleydirector | Grant | 2,072,756 | $0.00 |
| May 18, 2026 | Castelein Caleydirector | Grant | 255,102 | $3.92 |
| May 18, 2026 | Lennon David Jamesdirector, officer: CHIEF EXECUTIVE OFFICER | Grant | 51,021 | $3.92 |
| May 18, 2026 | Giacobello Scott M.officer: CHIEF FINANCIAL OFFICER | Grant | 38,265 | $3.92 |
| May 14, 2026 | Avoro Capital Advisors LLCdirector, 10 percent owner, other: See Remarks | Grant | 6,377,714 | $0.00 |
| Apr 17, 2026 | Giacobello Scott M.officer: CHIEF FINANCIAL OFFICER | Sell | 141,600 | $4.13 |
Source: WHWK SEC Form 4 filings, latest Jun 15, 2026. For informational purposes only — not investment advice.
See the full WHWK insider & 13F page →Whitehawk Therapeutics Inc company profile
Overview
Whitehawk Therapeutics Inc (NASDAQ:WHWK) is a clinical-stage biopharmaceutical company that underwent a significant strategic transformation in 2024. Originally founded as Aadi Biosciences and going public in 2017, the company initially focused on developing precision therapies for genetically-defined cancers, particularly through its drug FYARRO for rare sarcomas. In late 2024, the company rebranded to Whitehawk Therapeutics and pivoted its strategy to focus on developing advanced antibody-drug conjugates (ADCs) for cancer treatment, while divesting its original FYARRO asset to Kaken Pharmaceuticals.
Business
Whitehawk Therapeutics operates in the oncology biotechnology sector, specifically focusing on developing antibody-drug conjugates (ADCs) for cancer treatment. ADCs represent a sophisticated approach to cancer therapy that combines the targeting precision of antibodies with the cell-killing power of chemotherapy drugs. Think of ADCs as guided missiles for cancer treatment - they consist of an antibody that specifically recognizes and binds to proteins found on cancer cells, connected to a potent cytotoxic drug payload. When the ADC binds to its target on a cancer cell, it gets internalized and releases the toxic drug directly inside the cancer cell, minimizing damage to healthy tissues. The company's current portfolio consists of three main ADC candidates, each targeting different proteins commonly found on various cancer types. HWK-007 targets PTK7, a protein highly expressed across many tumor types. HWK-016 targets MUC16, a protein that increases with disease progression in various cancers. HWK-206 targets SEZ6, which is highly expressed in small cell lung cancer. These ADCs utilize an advanced platform technology called CPT113, designed to deliver cytotoxic payloads with minimal off-target toxicity. Prior to its transformation, the company marketed FYARRO (nab-sirolimus), a precision therapy for patients with advanced malignant perivascular epithelioid cell tumors (PEComa), a rare type of soft tissue sarcoma. This drug represented approximately 100% of the company's revenue until its divestiture in 2024, generating $26 million in annual sales.
Revenue model
Whitehawk Therapeutics' business model has undergone a fundamental shift. Previously, the company generated revenue through product sales of FYARRO, selling directly to hospitals, specialty pharmacies, and oncology practices treating patients with rare sarcomas. FYARRO sales reached $26 million in 2024, representing a 7% increase from the previous year, with the company maintaining pricing power in this rare disease market. Following the strategic transformation, Whitehawk's future revenue model will depend on successfully developing and commercializing its ADC portfolio. The company plans to advance all three ADC candidates through clinical trials, with the goal of filing Investigational New Drug (IND) applications within 15 months. Revenue generation will eventually come from product sales of approved ADCs, licensing deals with pharmaceutical partners, or potential acquisition of the company's assets. The company's margins are significantly influenced by research and development expenses, which totaled $51 million in 2024. Clinical trial costs, manufacturing expenses for drug candidates, and regulatory compliance represent the primary cost drivers. The ADC market is highly competitive, with established players like Roche, Daiichi Sankyo, and AstraZeneca having approved products, which could pressure pricing and market share. However, the company's focus on novel targets and advanced ADC technology platform may provide differentiation opportunities. External factors affecting margins include regulatory approval timelines, manufacturing scale-up costs, and the competitive landscape's evolution in the rapidly growing ADC market.
Competitive moat
Whitehawk Therapeutics operates in a highly competitive biotechnology landscape with limited sustainable competitive advantages at this stage. The company's primary potential moat lies in its advanced ADC platform technology and novel target selection. The CPT113 ADC technology platform is designed to minimize off-target toxicity while maintaining efficacy, potentially offering advantages over first-generation ADCs. Additionally, the company's selection of targets - PTK7, MUC16, and SEZ6 - represents areas where current treatments may be inadequate. However, the company's moat is relatively weak compared to established pharmaceutical companies. The ADC space is increasingly crowded, with major pharmaceutical companies investing heavily in similar technologies. Companies like Roche (with Kadcyla), Daiichi Sankyo (with Enhertu), and numerous biotechnology companies are developing competing ADC platforms. The company lacks significant intellectual property barriers, established market presence, or regulatory approvals that would create sustainable competitive advantages. The primary competitive threats come from larger pharmaceutical companies with greater resources, established manufacturing capabilities, and existing oncology commercialization infrastructure. Additionally, alternative cancer treatment modalities, including CAR-T cell therapies, bispecific antibodies, and next-generation immunotherapies, represent potential disruption risks. The company's success will largely depend on clinical trial execution and the ability to demonstrate superior efficacy and safety profiles compared to existing treatments.
Risks & safety
Whitehawk Therapeutics presents a mixed margin of safety profile typical of early-stage biotechnology companies, with strong liquidity but significant execution risks. • **Cash Position**: Strong liquidity with $170-180 million in cash and cash equivalents, providing runway into 2028 • **Debt Level**: Minimal debt with debt-to-equity ratio of 0.016, indicating low financial leverage risk • **Current Ratio**: Excellent at 18.95, demonstrating strong short-term liquidity • **Burn Rate**: High cash burn of approximately $60 million annually based on recent operating cash flows • **Valuation Metrics**: Trading at 0.24x P/E ratio (based on one-time gains), but more relevantly at negative enterprise value due to cash position exceeding market cap • **Solvency Risk**: Low near-term solvency risk given substantial cash position, but long-term viability depends on successful clinical development • **Other Considerations**: High execution risk typical of clinical-stage biotechnology companies, with success dependent on unproven ADC candidates reaching market
Recent development
Whitehawk Therapeutics underwent a dramatic strategic transformation in 2024, fundamentally changing its business focus and identity. The company rebranded from Aadi Biosciences to Whitehawk Therapeutics and executed a comprehensive portfolio pivot. The most significant move was acquiring three advanced ADC candidates from Wuxi Biologics, targeting PTK7, MUC16, and SEZ6 proteins respectively. Simultaneously, the company divested its original asset, FYARRO, to Kaken Pharmaceuticals, effectively exiting the rare sarcoma treatment market. The transformation was funded through a substantial $100 million PIPE (Private Investment in Public Equity) financing, significantly strengthening the company's balance sheet. This capital infusion extended the company's cash runway into 2028 and provided sufficient funding to advance all three ADC candidates through meaningful clinical development milestones. The company appointed Dr. David Dornan as Chief Scientific Officer to lead the ADC development efforts. Prior to the transformation, the company had been developing FYARRO for additional indications beyond its approved PEComa indication, including conducting the PRECISION1 trial for patients with TSC1/TSC2 mutations and exploring applications in endometrial cancer and neuroendocrine tumors. However, the company terminated its collaboration with Mirati Therapeutics to focus resources on the new ADC strategy. The strategic shift represents a complete repositioning from a rare disease-focused company to a platform ADC developer targeting larger oncology markets.
WHWK company profile · for informational purposes only — not investment advice.
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