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Whitehawk Therapeutics
(NASDAQ:WHWK)
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Rating:49Neutral
Price Target:
$4.00
▼(-2.68% Downside)
Action:Reiterated
Date:07/11/26
WHWK scores below-average primarily due to weak financial performance (zero TTM revenue, large losses, and heavy cash burn), with technical indicators also leaning bearish in the near term (below key short-term moving averages, negative MACD). Positive corporate developments—especially the $87.5M PIPE and platform expansion—help offset some risk by improving runway and pipeline optionality, but valuation remains challenged given ongoing losses and no dividend support.
Positive Factors
Conservative balance sheet
Whitehawk’s balance sheet shows essentially no debt and positive equity of roughly $116M, which materially lowers interest-rate and refinancing risk. This provides a durable capital buffer to support clinical development and near-term IND milestones without immediate leverage pressure, preserving strategic optionality.
Negative Factors
Zero trailing revenue and steep losses
Whitehawk reports zero TTM revenue while incurring roughly $116M in net losses, indicating an absence of recurring commercial cashflows to offset operating expenses. This structural revenue gap forces reliance on milestones or financings to sustain R&D and increases execution risk if clinical readouts or partner payments lag expectations.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Whitehawk’s balance sheet shows essentially no debt and positive equity of roughly $116M, which materially lowers interest-rate and refinancing risk. This provides a durable capital buffer to support clinical development and near-term IND milestones without immediate leverage pressure, preserving strategic optionality.
Read all positive factors
Whitehawk Therapeutics (WHWK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$206.53M
Dividend YieldN/A
Average Volume (3M)3.35M
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue Growth-100.00%
EPS Growth-1124.16%
CountryUS
Employees29
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.68
Shares Outstanding53,783,330
10 Day Avg. Volume9,835,549
30 Day Avg. Volume3,352,856
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.10
Price to Sales (P/S)20.96
P/FCF Ratio-1.53
Enterprise Value/Market Cap0.84
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-34.78K
Enterprise Value/Ebitda-1.50
Forecast
1Y Price Target
$8.20Price Target Upside99.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-1.25
Revenue Forecast (FY)N/A
Whitehawk Therapeutics Business Overview & Revenue Model
Company Description
Whitehawk Therapeutics Inc. is a biopharmaceutical enterprise currently undergoing clinical trials. This company specializes in crafting highly targeted treatment options for cancers that are identified by distinct genetic profiles....
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
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 7.14M | 25.98M | 24.35M | 15.22M | 1.12M |
| Gross Profit | -5.00K | 6.38M | -28.07M | -27.38M | -18.78M | -18.55M |
| EBITDA | -115.78M | -20.52M | -64.63M | -65.36M | -58.80M | -36.96M |
| Net Income | -115.81M | -20.60M | -63.69M | -65.77M | -60.51M | -110.09M |
Balance Sheet | ||||||
| Total Assets | 127.23M | 150.83M | 70.32M | 132.42M | 184.24M | 157.91M |
| Cash, Cash Equivalents and Short-Term Investments | 123.04M | 145.70M | 47.24M | 108.84M | 172.56M | 148.99M |
| Total Debt | 0.00 | 0.00 | 833.00K | 1.27M | 1.66M | 605.00K |
| Total Liabilities | 11.06M | 14.52M | 17.84M | 27.23M | 25.86M | 21.50M |
| Stockholders Equity | 116.17M | 136.31M | 52.48M | 105.19M | 158.38M | 136.41M |
Cash Flow | ||||||
| Free Cash Flow | -107.78M | -97.98M | -61.20M | -63.63M | -50.08M | -22.47M |
| Operating Cash Flow | -107.78M | -97.43M | -59.55M | -59.66M | -49.64M | -22.42M |
| Investing Cash Flow | -84.18M | 11.89M | 25.20M | 83.21M | -132.89M | 25.15M |
| Financing Cash Flow | -825.00K | 94.38M | 130.00K | 326.00K | 72.62M | 141.80M |
Whitehawk Therapeutics Technical Analysis
Negative
4.11
Price Trends
4.26
Negative
3.96
Negative
3.20
Positive
Market Momentum
-0.10
Positive
40.62
Neutral
12.68
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WHWK, the sentiment is Negative. The current price of 4.11 is below the 20-day moving average (MA) of 4.17, below the 50-day MA of 4.26, and above the 200-day MA of 3.20, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 40.62 is Neutral, neither overbought nor oversold. The STOCH value of 12.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
55 Neutral | $161.86M | 1.51 | 55.29% | ― | -100.00% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $206.53M | -2.27 | -79.63% | ― | -100.00% | -1124.16% | |
49 Neutral | $286.03M | -3.90 | -147.80% | ― | 1.97% | -25.03% | |
47 Neutral | $127.60M | ― | -155.40% | ― | -100.00% | 61.98% | |
44 Neutral | $57.31M | ― | -59.95% | ― | ― | -24.56% |
* Healthcare Sector Average
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Whitehawk Therapeutics Corporate Events
Executive/Board ChangesShareholder Meetings
Whitehawk Shareholders Approve Directors, Pay and Auditor
Positive
Jun 12, 2026
At its June 11, 2026 annual meeting, Whitehawk Therapeutics reported that stockholders representing about 82% of voting power participated, ensuring a valid quorum for corporate actions. Investors elected three Class III directors, Behzad Aghazade...
Business Operations and StrategyProduct-Related Announcements
Whitehawk Expands CPT113 ADC Platform Through New Option Deal
Positive
May 22, 2026
On May 21, 2026, Whitehawk Therapeutics said it entered an option agreement with China-based Hangzhou DAC Biotechnology to use the CPT113 linker-payload in up to five additional, internally developed ADC programs, while retaining global rights and...
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.