This is a routine quarterly update for a pre-revenue clinical-stage biotech with no earnings surprise or guidance change. The extended cash runway into 2H 2028 removes near-term financing risk. Monitor for initial Phase 1 data readouts for HWK-007 and HWK-016 expected in 1H 2027, and the HWK-206 Phase 1 initiation in Q3 2026 as the next meaningful catalysts.
Price Chart
Executive Summary
Whitehawk Therapeutics reported Q2 2026 results with a net loss of $16.6M ($-0.20 EPS), narrower than the $52.6M loss in Q2 2025. The company ended the quarter with $190M in cash, extending its runway into 2H 2028 following an $87.5M private placement in May. Pipeline progress continues with Phase 1 enrollment for HWK-007 and HWK-016, and the HWK-206 Phase 1 trial on track to initiate in Q3 2026. The prior quarter's cross-filing context showed a similar pre-revenue clinical-stage profile with cash burn, making this a routine operational update with no material financial catalyst for the stock.
Key Financial Metrics
Key Facts
- Net loss of $16.6M for Q2 2026 vs $52.6M loss in Q2 2025 (prior year included $38M license fee)
- Cash, cash equivalents and short-term investments of $190.0M as of June 30, 2026, up from $145.7M at Dec 31, 2025
- Completed $87.5M private placement equity financing in May 2026
- Phase 1 trials for HWK-007 and HWK-016 continue enrolling; HWK-206 Phase 1 on track for Q3 2026
- Research and development expenses were $12.9M for Q2 2026 vs $48.8M in Q2 2025
- No revenue reported for Q2 2026 (pre-revenue clinical-stage company)
- Basic EPS of $-0.20 for Q2 2026 vs $-0.76 in Q2 2025
Financial Impact
Net loss improved by $36M YoY to $16.6M; cash position increased by $44.3M to $190M following $87.5M financing
Risk Factors
- Clinical-stage company with no approved products or revenue; all pipeline assets are in Phase 1 trials
- Dependence on successful clinical development of ADC portfolio (HWK-007, HWK-016, HWK-206)
- Potential need for additional financing if clinical timelines extend or cash burn accelerates
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-337069 |
| Document: whwk-20260806.htm | 0001193125-26-337069 |
| Document: 0001193125-26-337069-index-headers.html | 0001193125-26-337069 |
| Document: 0001193125-26-337069-index.html | 0001193125-26-337069 |
| Document: 0001193125-26-337069.txt | 0001193125-26-337069 |
| 8-K Data (Synthetic) | 0001193125-26-337069 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 6w ago | 8-K | $4.11 $4.07 | ▼ −0.97% | ▼ −0.53% | $3.21 (−21.90%) |
Aug 6, 2026 11w ago | 8-K | $4.70 $4.76 | ▲ +1.28% | ▲ +0.67% | $3.21 (−31.70%) |
Jun 10, 2026 19w ago | EFFECT | $4.02 $4.06 | ▼ −0.99% | ▲ +0.70% | $3.21 (+20.15%) |
May 29, 2026 21w ago | S-3 | $4.49 $4.18 | ▲ +6.90% | ▲ +7.06% | $3.21 (+28.51%) |
May 13, 2026 23w ago | 8-K | $4.93 $5.10 | ▼ −3.45% | ▼ −2.67% | $3.21 (+34.89%) |
May 7, 2026 24w ago | 8-K | $3.94 $3.97 | ▲ +0.76% | ▼ −0.07% | $3.21 (−18.53%) |
Apr 8, 2026 28w ago | Insider Cluster | $3.55 $3.39 | ▲ +4.51% | ▲ +4.45% | $3.21 (+9.58%) |
Apr 8, 2026 28w ago | Insider Cluster | $3.55 $3.39 | ▲ +4.51% | ▲ +4.45% | $3.21 (+9.58%) |
Apr 8, 2026 28w ago | Insider Cluster | $3.55 $3.39 | ▲ +4.51% | ▲ +4.45% | $3.21 (+9.58%) |
Mar 12, 2026 32w ago | 8-K | $3.90 $3.91 | ▲ +0.26% | ▲ +0.85% | $3.21 (−17.69%) |
US Market Status
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