Company: WHWK
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023932
Chunk: 251

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 251
---
. See Note 4 for further information.Accounts Receivable, NetAccounts receivable are recorded net of customer allowances for chargebacks and allowance for credit losses. Allowance for chargebacks is based on contractual terms. The Company estimates the allowance for credit losses based on existing contractual payment terms, actual payment patterns of its customers, individual customer circumstances and credit loss. Receivables are recorded to an allowance for credit loss when it is probable that amounts will not be collected based on terms of the customer contracts. Accounts receivable are net of $0.1 million, of customer allowances for chargebacks as of December 31, 2024. There were no allowances for credit losses and no receivables were written off for the periods ended March 31, 2025 and December 31, 2024. As of December 31, 2024, accounts receivable included balances associated with Aadi Subsidiary, Inc. which was sold on March 25, 2025. Accounts receivable related to Aadi Subsidiary was removed from the consolidated condensed balance sheet as of March 25, 2025. See Note 14 for more information.InventoryInventory is stated at the lower of cost or estimated net realizable value. The Company uses actual costing methodology determined on a first-in, first-out method. The Company capitalizes inventory costs associated with its products based upon regulatory approval when, based on management’s judgment, future commercialization is considered probable and the future economic benefit is expected to be realized; otherwise, such costs are expensed. As of December 31, 2024, inventory included balances associated with Aadi Subsidiary, Inc., which was sold on March 25, 2025. Inventory related to Aadi Subsidiary, Inc. was removed from the consolidated condensed balance sheet as of the sale date. See Note 14 for more information.Details of inventory are presented as follows (in thousands):March 31, 2025December 31, 2024Raw materials$— $3,533 Work in process— — Finished goods— 1,778 Total $— $5,311 Property and Equipment, Net

9

Property and equipment, consisting of computers and software, construction in process, furniture and fixtures, lab equipment, and leasehold improvements are stated at cost, less accumulated depreciation. Property and equipment is depreciated using the straight-line method over the estimated useful lives of the assets, generally three to five years