Whitehawk Therapeutics, Inc.

Whitehawk Therapeutics announced an expansion of its antibody drug conjugate (ADC) pipeline through a new option agreement with Hangzhou DAC Biotechnology. This agreement provides access to the CPT113 linker-payload for up to five additional ADC programs, with Whitehawk retaining global rights and full program control. The company expects to submit Investigational New Drug (IND) applications for multiple new programs within the next 12-24 months. The CPT113 linker-payload technology received external validation from Hangzhou DAC's DXC006 data presented at ASCO and Johnson & Johnson's JNJ-95437446 preclinical findings. Whitehawk's existing clinical programs, HWK-007 and HWK-016, are currently enrolling patients in Phase 1 dose-escalation trials, with data anticipated in the first half of 2027.

Whitehawk Therapeutics announced an $87.5 million private placement equity (PIPE) financing. The company will sell 4,330,866 shares of common stock at $3.92 per share and 17,991,021 pre-funded warrants at $3.9199 per warrant. The financing, which includes participation from existing investors and company insiders, is expected to close on May 14, 2026. Whitehawk intends to use the net proceeds to advance its ADC pipeline and related development activities, extending its cash runway into the second half of 2028.

Whitehawk Therapeutics reported a net loss of $(22.2) million for Q1 2026, a significant decline from a net income of $73.0 million in Q1 2025, which included a large gain from the FYARRO Divestiture. Product sales were zero in Q1 2026 following the divestment of the FYARRO Business in March 2025. The company is now a clinical-stage oncology therapeutics company focused on its new portfolio of antibody drug conjugates, with research and development expenses increasing to $17.2 million.

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.

Whitehawk Therapeutics, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on Thursday, June 11, 2026, at 1:00 p.m. Eastern Time. Stockholders will vote on the election of three Class III directors, an advisory resolution on executive compensation, and the ratification of BDO USA, P.C. as the independent registered accounting firm for fiscal year 2026. The record date for voting is April 17, 2026, with 49,428,177 shares outstanding.