Whitehawk Therapeutics

Whitehawk creates targeted medicines to fight different cancers. These drugs deliver medicine directly to tumor cells in the body. They focus on helping patients with rare and difficult tumors.

The Next-Generation Pipeline

• Antibody-Drug Conjugates: Precision medicines that link tumor-seeking antibodies to toxic drug payloads.
• HWK-206: Investigational therapy targeting PTK7 proteins across several high-need cancer types.
• HWK-007 and HWK-016: Preclinical assets focused on the MUC16 and SEZ6 tumor markers.

A Major Strategic Pivot

• Licensed a portfolio of three antibody-drug conjugates from WuXi Biologics in December 2024.
• Sold the legacy FYARRO business to KAKEN INVESTMENTS INC. for $102.4 million in March 2025.
• Rebranded from Aadi Bioscience, Inc. to Whitehawk Therapeutics, Inc. following the business sale.
• Secured $94.4 million in net proceeds through a private financing deal in March 2025.

What Makes Them Different?

The company uses a technology called CPT113 to keep drugs stable in the blood until they reach a tumor. This method allows for a targeted release of medicine directly into cancer cells to help improve treatment efficiency.

Checking the Balance Sheet

• Total revenue was $0 in Q1 2026, down 100% from $7.1 million in Q1 2025.
• Net loss reached $22.2 million in Q1 2026, turning negative from a $73 million profit in Q1 2025.
• Operating loss deepened to $23.5 million in Q1 2026, worsening 54.6% year-over-year.
• Cash and short-term investments totaled $123 million as of March 31, 2026.

Bottom Line

Whitehawk has transitioned from a commercial-stage company to a clinical-stage firm focused on targeted cancer therapies. This shift follows the sale of its primary asset to fund the development of a new antibody-drug conjugate portfolio.