Quarterly ResultMay 7, 2026, 09:17 AM
Whitehawk Therapeutics Q1 Net Loss $22.2M; Cash $123M
AI Summary
Whitehawk Therapeutics reported a net loss of $22.2 million for Q1 2026, a significant change from a net income of $73.0 million in Q1 2025, which included an $87.4 million gain from a subsidiary sale. The company maintained a strong cash position of $123.0 million, expected to fund operations into 2028. Operationally, Whitehawk continued to advance its Phase 1 trials for HWK-007 and HWK-016, with an Investigational New Drug (IND) submission for HWK-206 on track for mid-2026.
Key Highlights
- Net loss for Q1 2026 was $22.2 million, compared to a net income of $73.0 million in Q1 2025.
- Cash, cash equivalents, and short-term investments totaled $123.0 million as of March 31, 2026.
- Cash balance is anticipated to fund operations into 2028 based on current plans.
- Research and development expenses increased to $17.2 million in Q1 2026 from $8.8 million in Q1 2025.
- Phase 1 dose-escalation trials for HWK-007 and HWK-016 are ongoing.
- IND submission for HWK-206 is on track for mid-2026, with Phase 1 recruitment planned for Q3 2026.
- Initial Phase 1 results for HWK-007 and HWK-016 are expected in 1H 2027.