On July 31, 2026 Werewolf Therapeutics, Inc. (the "Company" or "Werewolf") (Nasdaq: HOWL), an innovative biopharmaceutical company pioneering the development of conditionally activated therapeutics engineered to stimulate the body’s immune system for the treatment of cancer and other immune-mediated conditions, reported a business update and announced financial results for the second quarter ended June 30, 2026.
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"In the second quarter of 2026, as previously announced, Werewolf entered into an asset purchase agreement with Jazz Pharmaceuticals Ireland Limited ("Jazz") with respect to the JZP898 program previously licensed to Jazz, and repaid all amounts owed under its loan and security agreement with K2 HealthVentures LLC ("K2"). Together, these transactions, which included a $21.0 million payment to Werewolf, enabled the Company to explore multiple options for the continued development of its INDUKINE and INDUCER platforms and programs," said Daniel J. Hicklin, Ph.D., President and Chief Executive Officer of Werewolf. "In the second half of the year, we expect to provide additional updates on the strategic alternatives process that is being run with assistance from our exclusive financial advisor, Piper Sandler & Co. ("Piper Sandler"), as well as data updates on our clinical trials of WTX-124 and WTX-330."
Financial Results for the Second Quarter of 2026:
•Cash position: As of June 30, 2026, cash and cash equivalents were $22.0 million, compared to $46.5 million as of March 31, 2026. Based on its current operating plan, the Company expects to be able to fund its operations into the second quarter of 2027.
•Collaboration revenue: Collaboration revenue was $21.0 million for the second quarter of 2026, and consists of revenue recognized related the Company’s agreement to sell its JZP898 program to Jazz Pharmaceuticals Ireland Limited. No collaboration revenue was recognized during the second quarter of 2025.
•Research and development expenses: Research and development expenses were $6.2 million for the second quarter of 2026, compared to $13.1 million for the same period in 2025.
•General and administrative expenses: General and administrative expenses were $7.7 million for the second quarter of 2026, compared to $4.4 million for the same period in 2025.
•Net income (loss): Net income was $3.7 million for the second quarter of 2026, compared to a net loss of $18.0 million for the same period in 2025.
(Press release, Werewolf Therapeutics, JUL 31, 2026, View Source [SID1234669581])