Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 266

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 266
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 |
|:------------------------|:----|:-------------|------:|:--|:----|:--|------:|:--|
| Foreign exchange loss   |     |              |    (1 | ) |     |   |     — |   |
| Interest income         |     |              | 6,400 |   |     |   | 2,398 |   |
| Interest expense        |     |              |  (231 | ) |     |   |  (230 | ) |
| Total other income, net |     | $            | 6,168 |   |     | $ | 2,168 |   |

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Other income, net for the year ended December 31, 2023, was $6.2 million of income, compared to
$2.2 million of income for the year ended December 31, 2022. The change was primarily driven by higher interest rates on short-term investments held during the year ended December 31, 2023 compared to the year ended December 31,
2022.

Liquidity and Capital Resources

Overview

As of September 30, 2024 we had
$62.6 million of cash, cash equivalents and short-term investments.

We have incurred net losses in each year since inception and as of
September 30, 2024, we had an accumulated deficit of $314.4 million. Our net losses were $65.8 million and $60.5 million for the years ended December 31, 2023 and 2022, respectively, and $45.4 million and
$49.5 million for the nine months ended September 30, 2024 and 2023, respectively. These losses have resulted principally from costs incurred in connection with research and development activities and selling, general and administrative
costs associated with our operations. We expect to continue to incur significant expenses and operating losses for the foreseeable future due to the cost of research and development, including conducting preclinical studies and clinical trials,
identifying and designing product candidates, the regulatory approval process for FYARRO outside the United States and any other product candidates we may develop in the future, and the continued commercialization of FYARRO. We expect our expenses
to decrease given the recent headcount reductions, the halting and wind-down of the PRECISION1 trial and the pausing of the trials in EEC and NETs.

On
September 22, 2022