Whitehawk Therapeutics Reports Third Quarter 2025 Financial Results and Recent Highlights

Core Insights - Whitehawk Therapeutics reported a net loss of $17.7 million for Q3 2025, compared to a loss of $12.5 million in Q3 2024, indicating an increase in operational expenses [8][9] - The company is on track to file Investigational New Drug (IND) applications for its ADC candidates HWK-007 and HWK-016 by the end of 2025, with a third candidate, HWK-206, expected by mid-2026 [2][8] - Whitehawk's cash, cash equivalents, and short-term investments totaled $162.6 million as of September 30, 2025, a significant increase from $47.2 million at the end of 2024, providing a runway into 2028 for operations [8] Recent Operational Highlights - The company presented data at the AACR-NCI-EORTC conference, confirming PTK7 as a highly expressed tumor marker, which supports the potential of HWK-007 for treating approximately 750,000 patients in the US with PTK7-expressing cancers [2][10] - Whitehawk's ADC portfolio is designed to address limitations of first-generation therapies, with assets in-licensed from WuXi Biologics under an exclusive agreement [3][10] Financial Overview - Total current assets increased to $165.036 million as of September 30, 2025, from $61.287 million at the end of 2024, driven by higher cash and short-term investments [7][8] - Operating expenses for Q3 2025 were $19.546 million, slightly lower than $20.625 million in Q3 2024, with research and development expenses rising significantly to $14.345 million from $9.997 million year-over-year [9]