Whitehawk Therapeutics (WHWK)
NASDAQ:WHWK
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Whitehawk Therapeutics
(NASDAQ:WHWK)
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Rating:50Neutral
Price Target:
$4.50
▲(9.49% Upside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by very weak profitability and heavy cash burn, despite a low-debt balance sheet. A supportive corporate event (the $87.5M PIPE extending runway) and moderately constructive longer-term technical trend provide partial offsets, while valuation remains unattractive due to ongoing losses and no dividend support.
Positive Factors
Very low leverage (no debt)
A zero-debt balance sheet materially lowers financial distress risk for a pre-profit biotech. This structural strength preserves flexibility to fund R&D, negotiate licensing or partnerships, and withstand trial delays without near-term mandatory debt service, supporting multi‑month runway planning.
Negative Factors
Severe and persistent cash burn
Very large negative operating and free cash flows indicate ongoing reliance on external financing to fund operations. Structurally high cash burn increases dilution risk, forces repeated capital raises, and can curtail R&D or trial activity if markets tighten, threatening long‑term program continuity.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage (no debt)
A zero-debt balance sheet materially lowers financial distress risk for a pre-profit biotech. This structural strength preserves flexibility to fund R&D, negotiate licensing or partnerships, and withstand trial delays without near-term mandatory debt service, supporting multi‑month runway planning.
Read all positive factors
Whitehawk Therapeutics (WHWK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$208.69M
Dividend YieldN/A
Average Volume (3M)3.35M
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth-100.00%
EPS Growth-1124.16%
CountryUS
Employees40
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.48
Shares Outstanding49,452,460
10 Day Avg. Volume9,835,549
30 Day Avg. Volume3,352,856
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.10
Price to Sales (P/S)20.96
P/FCF Ratio-1.53
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue24.34
Enterprise Value/Gross Profit27.26
Enterprise Value/Ebitda-1.58
Forecast
1Y Price Target
$7.33Price Target Upside78.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)-1.3
Revenue Forecast (FY)N/A
Whitehawk Therapeutics Business Overview & Revenue Model
Company Description
Whitehawk Therapeutics Inc operates as a clinical-stage biopharmaceutical company. The Company develops precision therapies for genetically-defined cancers....
Whitehawk Therapeutics Earnings Call Summary
Earnings Call Date:Mar 18, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with significant strategic transformations, a promising pipeline of ADC therapies, and strong financial positioning. However, there are concerns about increased R&D expenses and net losses, which are common in early biotech transitions.Positive Updates
Transformation and Strategic Transactions
Whitehawk Therapeutics was launched from Aadi Biosciences, including in-licensing 3 ADCs from Wuxi Biologics, divestiture of FYARRO to Kaken Pharmaceuticals, and $100 million pipe financing, approved by stockholders.
Negative Updates
Increased R&D Expenses
Research and development expenses for Q4 increased to $14.3 million compared to $12.8 million in the prior year quarter, primarily due to in-process R&D expenses related to the acquired ADC programs.
Read all updates
Q4-2024 Updates
Positive
Negative
Transformation and Strategic Transactions
Whitehawk Therapeutics was launched from Aadi Biosciences, including in-licensing 3 ADCs from Wuxi Biologics, divestiture of FYARRO to Kaken Pharmaceuticals, and $100 million pipe financing, approved by stockholders.
Read all positive updates
Company Guidance
In the earnings call for the fourth quarter and full year 2024, Whitehawk Therapeutics provided guidance on their transformative shift from Aadi Biosciences to an ADC-focused company. The key metrics highlighted include a $100 million PIPE financing and the divestiture of FYARRO, which resulted in a financial position of $170 million to $180 million in cash and equivalents, expected to fund operations into 2028. The company reported FYARRO net product sales of $7.2 million for the fourth quarter, marking a 14% increase from the previous year, and $26 million for the full year, a 7% rise from 2023. Research and development expenses increased to $14.3 million for the quarter and $51 million for the year, primarily due to ADC program acquisitions. Whitehawk plans to file three Investigational New Drug (IND) applications within 15 months for their ADC candidates, targeting PTK7, MUC16, and SEZ6, with anticipated Phase 1 trials in several high-potential cancer indications.Whitehawk Therapeutics Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
56
Neutral
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.14M | 25.98M | 24.35M | 15.22M | 1.12M |
| Gross Profit | 6.38M | -28.07M | -27.38M | -18.78M | -18.55M |
| EBITDA | -114.40M | -64.63M | -71.76M | -58.80M | -36.96M |
| Net Income | -20.60M | -63.69M | -65.77M | -60.51M | -110.09M |
Balance Sheet | |||||
| Total Assets | 150.83M | 70.32M | 132.42M | 184.24M | 157.91M |
| Cash, Cash Equivalents and Short-Term Investments | 145.70M | 47.24M | 108.84M | 172.56M | 148.99M |
| Total Debt | 0.00 | 833.00K | 1.27M | 1.66M | 605.00K |
| Total Liabilities | 14.52M | 17.84M | 27.23M | 25.86M | 21.50M |
| Stockholders Equity | 136.31M | 52.48M | 105.19M | 158.38M | 136.41M |
Cash Flow | |||||
| Free Cash Flow | -97.98M | -61.20M | -63.63M | -50.08M | -22.47M |
| Operating Cash Flow | -97.43M | -59.55M | -59.66M | -49.64M | -22.42M |
| Investing Cash Flow | 11.89M | 25.20M | 83.21M | -132.89M | 25.15M |
| Financing Cash Flow | 94.38M | 130.00K | 326.00K | 72.62M | 141.80M |
Whitehawk Therapeutics Technical Analysis
Positive
4.11
Price Trends
3.91
Positive
3.42
Positive
2.75
Positive
Market Momentum
0.14
Positive
51.66
Neutral
27.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WHWK, the sentiment is Positive. The current price of 4.11 is below the 20-day moving average (MA) of 4.20, above the 50-day MA of 3.91, and above the 200-day MA of 2.75, indicating a bullish trend. The MACD of 0.14 indicates Positive momentum. The RSI at 51.66 is Neutral, neither overbought nor oversold. The STOCH value of 27.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WHWK.
Whitehawk Therapeutics Risk Analysis
Whitehawk Therapeutics disclosed 99 risk factors in its most recent earnings report. Whitehawk Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Whitehawk Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $175.16M | 0.90 | 43.14% | ― | -100.00% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $208.69M | -2.69 | -79.63% | ― | -100.00% | -1124.16% | |
47 Neutral | $283.49M | -1.25 | -147.80% | ― | 1.97% | -25.03% | |
47 Neutral | $141.78M | -1.83 | -155.40% | ― | -100.00% | 61.98% | |
46 Neutral | $204.89M | -7.18 | -59.95% | ― | ― | -24.56% |
* Healthcare Sector Average
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Whitehawk Therapeutics Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Whitehawk Therapeutics Announces $87.5 Million PIPE Financing
Positive
May 13, 2026
On May 12, 2026, Whitehawk Therapeutics entered a securities purchase agreement with institutional and accredited investors for a private investment in public equity financing totaling $87.5 million. The deal covers 4,330,866 common shares at $3.9...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.