Company: WHWK
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023932
Chunk: 258

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 258
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 stock, for which the remaining unfunded exercise price is $0.0001 per share. See Note 8 for more information on the Pre-Funded Warrants.Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. For the three months ended March 31, 2025, options to purchase common stock totaling 3,435,449 shares, were excluded from the calculation of diluted net loss per share as their effect would have been anti-dilutive. The Company incurred net losses for the three months ended March 31, 2024 and therefore did not include potentially dilutive common stock equivalents in the computation of diluted net loss per share.The computations for basic and diluted EPS were as follows (in thousands, except shares and per share amounts):Three Months Ended March 31,20252024Net income (loss) for basic and diluted EPS$73,016 $(18,289)Weighted-average shares for basic EPS39,640,826 26,980,698 Effect of dilutive stock options192,692 — Effect of dilutive restricted stock units99,021 — Weighted-average shares for diluted EPS39,932,539 26,980,698 Net income (loss) per share:  Basic EPS$1.84 $(0.68)  Diluted EPS$1.83 $(0.68)Recent Accounting PronouncementsIn December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures. The new standard requires a company to expand its existing income tax disclosures, specifically related to the rate reconciliation and income taxes paid. The standard is effective for the Company beginning in fiscal year 2025, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09 on the consolidated financial statements and related disclosures.

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3. Fair Value Measurement

The following table sets forth the recurring fair value of the Company’s financial assets and liabilities, allocated into the Level 1, Level 2 and Level 3 hierarchy that were measured at fair value on a recurring basis (in thousands):Fair Value Measurements as of March 31, 2025Level 1Level 2Level 3TotalAssets:Money market funds (1