WhiteHawk Therapeutics, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 9, 2026, reporting continued operating losses and balance sheet changes following a mid-year private placement.

Key Highlights

  • Net loss of $21.2 million for the three months ended September 30, 2026, compared to a net loss of $17.7 million in the same quarter of 2025, according to the filing.
  • Nine-month net loss of $60.0 million for the period ended September 30, 2026, versus net income of $2.7 million for the nine months ended September 30, 2025, the latter driven by an $87.3 million gain on sale of business.
  • Cash and cash equivalents of $68.973 million and short-term investments of $100.699 million as of September 30, 2026, compared to $37.568 million and $108.129 million, respectively, at December 31, 2025.
  • Private placement raised approximately $81.834 million net of transaction costs, completed during the second quarter of 2026, adding 4,331 thousand shares of common stock.
  • Shares outstanding rose to 59,008,982 as of November 5, 2026, up from 47,145,719 at December 31, 2025.
  • No product revenue was recorded in either the three or nine months ended September 30, 2026, compared to $7.145 million in product sales, net, for the nine months ended September 30, 2025.
  • Total stockholders' equity of $163.157 million at September 30, 2026, down from $182.925 million at June 30, 2026, reflecting the quarterly net loss.

WhiteHawk Therapeutics Reports Q3 2026 Financial Results and Balance Sheet Position

WhiteHawk Therapeutics, Inc. (NASDAQ:WHWK), a Delaware-incorporated company headquartered in Morristown, NJ, disclosed its unaudited condensed consolidated financial results for the three and nine months ended September 30, 2026. The company reported a net loss of $21.209 million for the third quarter of 2026, with research and development expenses of $18.138 million and selling, general and administrative expenses of $4.805 million representing the primary components of total operating expenses of $22.943 million. Interest income of $1.737 million partially offset operating losses during the quarter, according to the filing.

For the nine months ended September 30, 2026, the company reported a net loss of $60.043 million on no product revenue. The comparable prior-year nine-month period reflected net income of $2.655 million, which the filing attributes primarily to a gain on sale of business of $87.266 million. Research and development expenses for the nine-month period ended September 30, 2026 totaled $48.263 million, compared to $71.942 million for the same period in 2025. The accumulated deficit reached $413.293 million as of September 30, 2026, up from $353.250 million at December 31, 2025.

The company's liquidity position changed over the nine-month period, with cash and cash equivalents increasing to $68.973 million from $37.568 million at year-end 2025, in part reflecting the private placement completed in the second quarter that generated net proceeds of approximately $81.834 million. Total assets were $173.686 million as of September 30, 2026, against total liabilities of $10.529 million, leaving total stockholders' equity of $163.157 million. The company is classified as a non-accelerated filer and a smaller reporting company, as indicated on the cover page of the filing.

What Was Disclosed

WhiteHawk Therapeutics disclosed its unaudited financial statements for Q3 2026, showing a $21.2 million quarterly net loss, $60.0 million nine-month net loss, no product revenue, an $81.8 million net private placement, and total assets of $173.7 million as of September 30, 2026.