Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 510

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 510
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 surviving as a wholly owned subsidiary of ours (the
“Merger”).

Liquidity

Since inception, the Company has devoted substantially all of its resources to research and development activities, business planning, establishing and
maintaining its intellectual property portfolio, hiring personnel, raising capital and providing general and administrative support for these operations and has only recently begun to realize revenues from its planned principal operations commencing
with the commercial sale of FYARRO.

The Company has experienced net losses since its inception and expects to continue to incur net losses into the
foreseeable future. The Company had an accumulated deficit of $314.4 million as of September 30, 2024. For the three months ended September 30, 2024 and 2023, the Company had a net loss of $12.5 million and $16.3 million,
respectively. For the nine months ended September 30, 2024 and 2023, the Company had a net loss of $45.4 million and $49.5 million, respectively. To date, these operating losses have been funded primarily from outside sources of
invested capital through the issuance of convertible promissory notes, grant funding, the sale of securities, and proceeds from license agreements.

The
Company had cash, cash equivalents and short-term investments of $62.6 million at September 30, 2024. Management believes the Company’s current cash, cash equivalents and short-term investments will provide sufficient funds to enable
the Company to meet its obligations for at least twelve months from the filing date of this report. If the Company is unable to achieve and maintain profitability, it will need additional financing to support its continuing operations and pursue its
strategic objectives. Additional financing may be achieved through a combination of equity offerings and debt financing. The Company may be unable to raise additional funds or enter into such other agreements when needed on favorable terms or at
all.

F-37

On March 17, 2022, the Company entered into a Sales Agreement (the “Sales Agreement”) with
Cowen and Company, LLC (“Cowen”), pursuant to which the Company may offer and sell, from time to time at the Company’s sole discretion, subject to limitations under applicable securities laws, shares of its common stock having an
aggregate offering price of up to $75.0 million through Cowen as its sales agent for an at-the-marketing-offering. Any sales under the Sales Agreement may result in
dilution to existing stockholders.