Financial Performance - Third quarter 2025 net loss was $17.7 million, compared to a net loss of $12.5 million in the same period of 2024, representing a 41.6% increase in losses year-over-year[5] - Total operating expenses for the three months ended September 30, 2025, were $19.5 million, slightly down from $20.6 million in the same period of 2024[16] - The company reported no product sales in Q3 2025, down from $7.2 million in Q3 2024, reflecting a shift in focus towards R&D[16] - The weighted average shares outstanding increased to 69.2 million in Q3 2025 from 27.0 million in Q3 2024, indicating significant dilution[16] Liquidity and Assets - Cash, cash equivalents, and short-term investments as of September 30, 2025, were $162.6 million, up from $47.2 million as of December 31, 2024, indicating a significant increase in liquidity[5] - Total assets as of September 30, 2025, were $167.0 million, compared to $70.3 million as of December 31, 2024, indicating a substantial growth in asset base[14] - The company anticipates its cash runway will extend into 2028 based on current operational plans[5] Research and Development - Research and development expenses increased to $14.3 million in Q3 2025, compared to $10.0 million in Q3 2024, reflecting a 43.5% increase year-over-year[16] - The company is on track to submit IND filings for HWK-007 and HWK-016 by the end of 2025, with all three assets expected to reach IND by mid-2026[3] - Whitehawk Therapeutics confirmed PTK7 as the third most highly expressed tumor marker among ADC targets, highlighting the potential market opportunity for HWK-007, which targets PTK7-expressing cancers affecting nearly 750,000 patients in the US[3]
Aerpio Pharmaceuticals(AADI) - 2025 Q3 - Quarterly Results