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Whitehawk Therapeutics Financial Performance

Whitehawk Therapeutics, Inc. (Nasdaq: WHWK), a progressive player in oncology therapeutics, has today released its financial results for the first quarter of 2025, revealing a commendable upward trajectory in both revenue and strategic advancements in its cancer treatment initiatives.

Company Overview

Based in Morristown, N.J., Whitehawk Therapeutics is dedicated to revolutionizing cancer care by leveraging advanced technologies in tumor biology. The company focuses on creating improved antibody-drug conjugate (ADC) treatments that target challenging cancers effectively.

Dave Lennon, Whitehawk's President and CEO, expressed his optimism concerning the company’s progress, stating, “We aim to integrate innovative tumor targeting methods with cutting-edge technologies to enhance ADC therapies for patients enduring hard-to-treat cancers. Despite the challenges in this sector, our first-quarter outcomes reflect our growing momentum and commitment to bringing our robust pipeline into clinical use.”

Achievements in Q1 2025

During the first quarter, Whitehawk launched a three-asset portfolio aimed at addressing high-potential cancer indications, particularly lung and ovarian cancers. This strategic move marks a significant pivot for the company as it relaunches under the new branding of Whitehawk Therapeutics.

The ADC portfolio boasts engineered assets designed to minimize off-target toxicity, thereby providing a higher therapeutic index compared to older generation drugs. This innovation potentially places Whitehawk's offerings alongside well-established targets such as HER2 and TROP2, emphasizing a favorable competitive edge.

Financial Highlights

The financial report illuminated a stark growth in Whitehawk's fiscal standing:

• - Cash and Investments: By the end of the quarter on March 31, 2025, the company reported cash, cash equivalents, and short-term investments totaling $231.1 million, a significant increase from $47.2 million the previous quarter.
• - Revenue: For this quarter, total revenue amounted to $7.1 million, stemming from the sales of its FYARRO product prior to its divestiture.
• - Net Income: Whitehawk saw a remarkable turnaround with a net income of $73 million for the quarter, reflecting a notable gain from the sale of Aadi Subsidiary, Inc. (Aadi Sub) for $102.4 million. In contrast, the previous year showed a net loss of $18.3 million. Excluding the gain from the sale, the net loss for this period was $14.4 million, showcasing the ongoing investment into R&D and operational activities.

The strategic sale further bolstered Whitehawk’s resources, instilling a confidence that their cash runway can sustain operations through 2028 under current operational plans.

Future Outlook

Looking ahead, Whitehawk is poised to submit its first investigational new drug (IND) application in Q4 of 2025, with plans to bring all three ADC assets to IND within the first half of 2026. Lennon remarked, “Our commitment to innovation and patient care continues to drive our strategic initiatives forward. We believe our ADC therapies will not only make a significant impact in treatment efficacy but will also establish Whitehawk as a leader in oncology therapeutics.”

With forward-looking statements emphasizing their aspiration to optimize ADC therapies, Whitehawk Therapeutics intends to redefine treatment pathways for cancers that are traditionally more difficult to manage.

For more details about Whitehawk Therapeutics and its promising portfolio, visit www.whitehawktx.com or follow the company on LinkedIn.

This announcement reinforces the company's position as a leader in the oncology sector, committed to improving the quality of life for cancer patients worldwide.