Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 71

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 71
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estiture not being completed on the future value of your shares of our common stock. If the Divestiture is not completed, Aadi’s board of directors will continue to evaluate and review, among other things, Aadi and Aadi Sub’s business,
operations, strategic direction and capitalization, and will make whatever changes it deems appropriate. If the Divestiture Agreement is not approved by our stockholders or if the Divestiture is not completed for any other reason, the business,
prospects or results of operation of Aadi and Aadi sub may be adversely impacted.

In specified circumstances in which the Divestiture is not completed
and the Divestiture Agreement is terminated, Aadi has agreed to pay Kaken the termination fee of $3.5 million.

Background of the Divestiture

In an effort to enhance stockholder value, Aadi’s board of directors and management regularly review and discuss its near and long-term operating and
strategic priorities. Among other things, these reviews and discussions focus on the opportunities and risks associated with Aadi’s development programs, financial condition, and its strategic relationships and potential long-term strategic
options.

In the fourth quarter of 2021, the U.S. Food and Drug Administration (the “FDA”) approved FYARRO sirolimus protein-bound particles for
injectable suspension (albumin-bound) for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (“PEComa”), a rare cancer. Aadi exclusively licenses FYARRO
(previously called ABI-009, nab-sirolimus), from Abraxis BioScience, LLC, a wholly owned subsidiary of Celgene Corporation, which is a wholly owned subsidiary of
Bristol-Myers Squibb Company (“BMS”). In the first quarter of 2022, Aadi launched FYARRO in the United States for the treatment of advanced malignant PEComa and recognized net product sales of $24.4 million and $15.2 million for
the years ended December 31, 2023 and 2022, respectively, and $18.7 million for the nine months ended September 30, 2024. Also in the first quarter of 2022, Aadi initiated a registration-directed tumor-agnostic Phase 2 study
(“PRECISION1”) of FYARRO in patients with Tuberous Sclerosis Complex 1 and 2 (“TSC1” & “TSC2”)