WHWK

MKT CAP:$191M

Whitehawk Therapeutics Inc

Market Cap

$191M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$4.17+$1.73 (+70.90%)

Apr 23, 2026

Company Details

Whitehawk Therapeutics Inc operates as a clinical-stage biopharmaceutical company. The Company develops precision therapies for genetically-defined cancers.

CEO

David J. Lennon

IPO Date

Aug 1, 2017

Website

ir.whitehawktx.com

Key Metrics TTM

Revenue

$7M

-72.5% YoY

Net Income

-$21M

EPS (Diluted)

$0.47

Free Cash Flow

-$98M

Revenue / Share

$0.10

Gross Margin

89.3%

Operating Margin

-1601.1%

Net Margin

-288.3%

FCF Margin

-1371.4%

P/S

26.8x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Dec 30, 2025

$7M-72.5%EPS -$0.33

Q4 2025

Dec 30, 2025

$0-100.0%EPS -$0.34

Q3 2025

Sep 29, 2025

$0-100.0%EPS -$0.26

Q2 2025

Jun 30, 2025

$0-100.0%EPS -$0.76

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$2M	$2M	-$14M
Q2 22	$3M	$3M	-$18M
Q3 22	$4M	$4M	-$15M
Q4 22	$5M	$5M	-$15M
Q1 23	$6M	$5M	-$17M
Q2 23	$6M	-$8M	-$20M
Q3 23	$6M	-$7M	-$18M
Q4 23	$6M	-$7M	-$18M
Q1 24	$5M	-$9M	-$20M
Q2 24	$6M	-$8M	-$16M
Q3 24	$7M	-$4M	-$13M
Q4 24	$7M	-$8M	-$19M
Q1 25	$7M	$6M	-$15M
Q2 25	$0	$0	-$55M
Q3 25	$0	-$5.0K	-$20M
Q4 25	$0	-$1.0K	-$25M

Valuation

Quarter	P/S	P/E
Q1 22	116.7x	—
Q2 22	40.4x	—
Q3 22	28.7x	—
Q4 22	21.4x	—
Q1 23	10.7x	—
Q2 23	8.3x	—
Q3 23	5.0x	—
Q4 23	2.1x	—
Q1 24	2.6x	—
Q2 24	1.6x	—
Q3 24	2.2x	—
Q4 24	3.1x	—
Q1 25	2.6x	2.6x
Q2 25	3.5x	—
Q3 25	9.2x	—
Q4 25	25.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$19M	-$19M
Q2 22	-$11M	-$11M
Q3 22	-$8M	-$8M
Q4 22	-$11M	-$11M
Q1 23	-$21M	-$23M
Q2 23	-$17M	-$17M
Q3 23	-$12M	-$13M
Q4 23	-$10M	-$10M
Q1 24	-$20M	-$20M
Q2 24	-$9M	-$10M
Q3 24	-$16M	-$16M
Q4 24	-$15M	-$15M
Q1 25	-$12M	-$12M
Q2 25	-$53M	-$53M
Q3 25	-$15M	-$15M
Q4 25	-$17M	-$17M

Capital Expenditures

Quarter	CapEx
Q1 22	$23.0K
Q2 22	$241.0K
Q3 22	$102.0K
Q4 22	$78.0K
Q1 23	$1M
Q2 23	$689.0K
Q3 23	$1M
Q4 23	$816.0K
Q1 24	$739.0K
Q2 24	$541.0K
Q3 24	$188.0K
Q4 24	$186.0K
Q1 25	$551.0K
Q2 25	$1.0K
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+294.4%
Q2 22	—	+462.5%
Q3 22	—	-77.9%
Q4 22	+422.7%	+22.2%
Q1 23	+154.3%	+40.8%
Q2 23	+80.4%	+18.1%
Q3 23	+40.4%	+23.5%
Q4 23	+21.0%	+16.1%
Q1 24	-8.8%	+9.6%
Q2 24	-0.4%	-15.5%
Q3 24	+21.0%	-13.4%
Q4 24	+14.4%	+8.9%
Q1 25	+33.5%	-10.1%
Q2 25	-100.0%	+151.6%
Q3 25	-100.0%	-5.2%
Q4 25	-100.0%	-5.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	77.2%
Q2 22	$2M	65.0%
Q3 22	$3M	64.9%
Q4 22	$3M	54.9%
Q1 23	$3M	46.7%
Q2 23	$3M	49.2%
Q3 23	$3M	51.2%
Q4 23	$3M	49.2%
Q1 24	$4M	67.0%
Q2 24	$3M	45.9%
Q3 24	$3M	35.5%
Q4 24	$2M	25.6%
Q1 25	$2M	23.5%
Q2 25	$3M	—
Q3 25	$3M	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$7M	$9M	—
Q2 22	$8M	—	$10M
Q3 22	$9M	—	$10M
Q4 22	$9M	—	$11M
Q1 23	$11M	—	$11M
Q2 23	$13M	—	$12M
Q3 23	$12M	—	$11M
Q4 23	$13M	—	$10M
Q1 24	$14M	—	$11M
Q2 24	$13M	—	$8M
Q3 24	$10M	—	$7M
Q4 24	$14M	—	$11M
Q1 25	$9M	—	$13M
Q2 25	$49M	—	$6M
Q3 25	$14M	—	$5M
Q4 25	$19M	—	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$130M	$0	$130M
Q2 22	$119M	$0	$119M
Q3 22	$135M	$48M	$183M
Q4 22	$39M	$134M	$173M
Q1 23	$34M	$117M	$151M
Q2 23	$68M	$67M	$135M
Q3 23	$69M	$51M	$119M
Q4 23	$63M	$46M	$109M
Q1 24	$54M	$34M	$88M
Q2 24	$41M	$37M	$79M
Q3 24	$31M	$32M	$63M
Q4 24	$29M	$19M	$47M
Q1 25	$228M	$3M	$231M
Q2 25	$145M	$32M	$177M
Q3 25	$38M	$125M	$163M
Q4 25	$38M	$108M	$146M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	21M	+0.1%	+0.4%
Q2 22	21M	+0.3%	+0.6%
Q3 22	21M	+1.4%	+1.9%
Q4 22	27M	+26.2%	+28.5%
Q1 23	27M	+0.1%	+28.4%
Q2 23	27M	+0.1%	+28.2%
Q3 23	27M	+0.3%	+26.7%
Q4 23	27M	+0.1%	+0.5%
Q1 24	27M	+0.1%	+0.4%
Q2 24	27M	+0.1%	+0.5%
Q3 24	27M	+0.1%	+0.4%
Q4 24	27M	+0.2%	+0.4%
Q1 25	27M	0.0%	+0.4%
Q2 25	69M	+155.0%	+155.8%
Q3 25	69M	+0.2%	+155.9%
Q4 25	69M	+0.0%	+155.5%

Shares Outstanding