Werewolf Therapeutics, Inc.
Business
Werewolf Therapeutics is a biopharmaceutical company developing conditionally activated immunotherapies for cancer and immune-mediated diseases using its proprietary PREDATOR platform. The company's product candidates include INDUKINE molecules (modified cytokines like IL-2, IL-12, IL-21, IL-18, and IL-10) and INDUCER T cell engagers designed to activate selectively in the tumor microenvironment. Lead programs WTX-124 and WTX-330 are in Phase 1/1b and Phase 1b/2 clinical trials respectively; JZP898 (IFNα) is licensed to Jazz Pharmaceuticals globally. Development is currently under strategic review.
Summary from 10-K filed 2026-03-27
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Collaboration revenue | 0 | 2 | 20 | 16 | 0 | |
| Research and development | 45 | 56 | 42 | 54 | 35 | |
| General and administrative | 16 | 19 | 19 | 19 | 15 | |
| Total operating expenses | 61 | 75 | 60 | 72 | 50 | |
| Operating loss | −61 | −74 | −41 | −56 | −50 | |
| Interest income | 3 | 7 | 7 | 2 | — | |
| Interest expense | −5 | −5 | −3 | — | — | |
| Loss on extinguishment of debt | 0 | −553,000 | 0 | — | — | |
| Other income, net | 2 | 2 | −1 | 338,000 | — | |
| Total other (expense) income | −145,000 | 3 | 3 | 2 | 104,000 | |
| Net loss | −61 | −71 | −37 | −54 | −50 | |
| Net loss per common share, basic (in usd per share) | −1.32 | −1.63 | −1.05 | −1.86 | −10.94 | |
| Net loss per common share, diluted (in usd per share) | −1.33 | −1.63 | −1.05 | −1.86 | −10.94 | |
| Weighted average common shares outstanding, basic (in shares) | 46 | 43 | 36 | 29 | 18 | |
| Weighted average common shares outstanding, diluted (in shares) | 47 | 44 | 36 | 29 | 18 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 57 | 111 | 134 | 129 | 158 | |
| Prepaid expenses and other current assets | 2 | 2 | 3 | 4 | 4 | |
| Total current assets | 59 | 113 | 138 | 140 | 161 | |
| Property and equipment, net | 5 | 6 | 8 | 9 | 3 | |
| Restricted cash and cash equivalents | 901,000 | 1 | 21 | 1 | 1 | |
| Operating lease right of use asset | 5 | 6 | 7 | 8 | 13 | |
| Other assets | 5,000 | 320,000 | 594,000 | 1 | 649,000 | |
| Total assets | 69 | 127 | 175 | 160 | 179 | |
| Accounts payable | 754,000 | 3 | 1 | 1 | 2 | |
| Accrued expenses and other current liabilities | 5 | 11 | 9 | 14 | 9 | |
| Operating lease liability, current | 2 | 2 | 2 | 2 | 1 | |
| Note payable, current, net of discount and issuance costs | 28 | 0 | 7 | 0 | — | |
| Total current liabilities | 36 | 15 | 19 | 24 | 12 | |
| Operating lease liability, net of current portion | 8 | 9 | 11 | 13 | 15 | |
| Note payable, net of discount, issuance costs, and current portion | 0 | 26 | 33 | 0 | — | |
| Derivative liability | 759,000 | 3 | 0 | — | — | |
| Total liabilities | 45 | 54 | 63 | 38 | 26 | |
| Commitments and contingencies | — | — | — | — | — | |
| Preferred stock, $0.0001 par value, 5,000,000 shares authorized as of December 31, 2025 and 2024; no shares issued or outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value, 200,000,000 shares authorized as of December 31, 2025 and 2024; 48,596,817 and 44,827,159 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 5,000 | 5,000 | 4,000 | 3,000 | 2,000 | |
| Additional paid-in capital | 500 | 488 | 455 | 429 | 406 | |
| Accumulated deficit | −475 | −415 | −344 | −307 | −253 | |
| Total stockholders equity | 25 | 73 | 111 | 122 | 153 | |
| Total liabilities and stockholders equity | 69 | 127 | 175 | 160 | 179 | |
| Common stock outstanding (in shares) | 49 | 45 | 39 | 31 | 27 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation expense | 6 | 9 | 8 | 7 | 4 | |
| Depreciation expense | 2 | 2 | 2 | 1 | 200,000 | |
| Non-cash interest expense | 2 | 1 | 273,000 | 0 | — | |
| Non-cash lease expense | 785,000 | 887,000 | 2 | 1 | 519,000 | |
| Change in fair value of derivative liability | −2 | −2 | 0 | — | — | |
| Prepaid expenses and other assets | 850,000 | 669,000 | 1 | −262,000 | −3 | |
| Other receivables | 0 | 1 | 6 | −7 | 0 | |
| Accounts payable, accrued expenses and other liabilities | −7 | 3 | −4 | 3 | — | |
| Deferred revenue | 0 | −1 | −6 | 8 | 0 | |
| Operating lease liability | −2 | −2 | −2 | −977,000 | — | |
| Net cash used in operating activities | −60 | −56 | −33 | −41 | −43 | |
| Purchases of property and equipment | 0 | −254,000 | −769,000 | −4 | −498,000 | |
| Net cash used in investing activities | 0 | −254,000 | −769,000 | −4 | −498,000 | |
| Proceeds from at the market offering of common stock, net of issuance costs | 6 | 24 | 18 | 16 | 0 | |
| Proceeds from drawdown of term loans | 0 | 30 | 40 | 0 | — | |
| Payment of debt issuance costs | 0 | −673,000 | 0 | — | — | |
| Repayment of term loan | 0 | −40 | 0 | — | — | |
| Proceeds from issuances under Employee Stock Purchase Plan | 89,000 | 142,000 | 93,000 | 0 | — | |
| Proceeds from stock option exercises | 0 | 35,000 | 7,000 | 254,000 | 205,000 | |
| Net cash provided by financing activities | 6 | 13 | 58 | 16 | 109 | |
| Net decrease in cash, cash equivalents and restricted cash and cash equivalents | −54 | −43 | 25 | −28 | 66 | |
| Cash paid for interest | 3 | 3 | 3 | 0 | — | |
| Issuance costs in accounts payable and accrued expenses | 120,000 | 84,000 | 36,000 | 4,000 | 0 | |
| Fair value of derivative liability issued with term loan | 0 | 4 | 0 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Werewolf Therapeutics, Inc.'s CIK number?
Werewolf Therapeutics, Inc.'s SEC CIK number is 0001785530 (1785530). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Werewolf Therapeutics, Inc.'s SEC filings?
All of Werewolf Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Werewolf Therapeutics, Inc. last report earnings?
Werewolf Therapeutics, Inc. (HOWL) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001785530-26-000011). This is Werewolf Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Werewolf Therapeutics, Inc.'s most recent earnings 8-K?
Werewolf Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001785530-26-000011. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Werewolf Therapeutics, Inc.'s latest earnings 8-K →
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