Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 513

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 513
---
Customer Concentration

For the three months ended September 30, 2024 and 2023, two customers represented 54% and 44%, and 56% and 44% of the Company’s revenue,
respectively.

For the nine months ended September 30, 2024 and 2023, two customers represented 55% and 44%, and 54% and 46% of the Company’s
revenue, respectively.

Additionally, two customers accounted for 60% and 40% of net accounts receivable as of September 30, 2024.

Cash, Cash Equivalents and Restricted Cash

The
Company considers all highly liquid marketable securities purchased with original maturities of three months or less at the time of purchase date to be cash equivalents. Restricted cash consists of a letter of credit secured by restricted cash in
connection with one of the Company’s office leases and is included in other assets on the condensed consolidated balance sheets. Refer to Note 6 for further information on the Company’s leases.

F-39

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets (in thousands):

|                                                  |     |   | September 30, 
          2024 |     |   | December 31, 
         2023 |
|:-------------------------------------------------|:----|:--|--------------:|:----|:--|-------------:|
| Cash and cash equivalents                        |     | $ |        30,537 |     | $ |       62,888 |
| Restricted cash, non-current                     |     |   |            64 |     |   |           64 |
| Total cash, cash equivalents and restricted cash |     | $ |        30,601 |     | $ |       62,952 |

Fair Value of Financial Instruments The accounting guidance defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair