Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 73

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 73
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 management meetings) and received
virtual data room access to conduct commercial and scientific due diligence on FYARRO, including Bidder A, Bidder B, Bidder C, Bidder D, Bidder E, Bidder F, and Bidder G.

On July 26, 2024, representatives of Leerink Partners and Bidder F met via videoconference to discuss a potential transaction involving FYARRO.

On August 8, 2024, representatives of Aadi and Bidder B met via videoconference to discuss the FYARRO commercial business and Bidder B’s initial due
diligence questions.

On August 14, 2024, representatives of Leerink Partners and Bidder F met via videoconference to discuss Bidder F’s level
of interest in a potential transaction and due diligence progress.

On August 16, 2024, Aadi’s board of directors held a virtual meeting at
which Aadi management presented interim analysis results for the PRECISION1 trial, as well as an analysis by the Independent Data Monitoring Committee that the trial was unlikely to exceed an efficacy threshold necessary to support accelerated
approval, a critical goal for the trial. Based on such interim data and analysis, and to preserve Aadi’s cash, management recommended that the PRECISION1 trial be discontinued. Management also recommended the suspension of new enrollment for
the two ongoing Phase 2 trials of FYARRO in EEC and NETs, as well as a substantial workforce reduction, including a reduction of the company’s research and development workforce by 80%. Following discussion, Aadi’s board of directors
approved each of the aforementioned recommendations. At the same meeting, Aadi’s board of directors and management discussed Aadi’s strategic initiatives, including a potential transaction involving FYARRO and the status of Leerink
Partners’ outreach regarding the same and discussions to date with potential interested parties. Aadi’s board of directors further discussed with management Aadi’s communication plan regarding the items discussed at the meeting.

On August 20, 2024, Aadi issued a press release announcing interim analysis results for the PRECISION1 trial, the halt of the PRECISION1 trial based on
such results, the suspension of new enrollment for the two ongoing Phase 2 trials of FYARRO in EEC and NETs, and the workforce reduction. The press release also announced that Aadi was pivoting to focus on preserving cash and maximizing the FYARRO
commercial business, as well as conducting a comprehensive strategic review to maximize