Company: WHWK
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023932
Chunk: 433

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 433
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 as the Morristown lease was assumed by KAKEN.The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet (in thousands):March 31, 2025December 31, 2024Cash and cash equivalents$227,569 $28,670 Restricted cash, non-current— 64 Total cash, cash equivalents and restricted cash $227,569 $28,734 Fair Value of Financial Instruments The accounting guidance defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:Level 1: Observable inputs, such as quoted prices in active marketsLevel 2: Inputs, other than the quoted prices in active markets that are observable either directly or indirectlyLevel 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions which reflect those that a market participant would use Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement 

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requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.In determining the fair value of its financial instruments, the Company considers the source of observable market data inputs, liquidity of the instrument, the credit risk of the counterparty to the contract, and its risk of nonperformance. In the case fair value is not observable, for the items subject to fair value measurements, the Company applies valuation techniques deemed the most appropriate under the GAAP guidance based on the nature of the assets and liabilities being measured.The carrying amounts of cash equivalents, accounts payable, and accrued liabilities are reasonable estimates of their fair value because of the short maturity of these items.Short-Term InvestmentsThe Company invests in various types of securities, including United States government treasury bills, commercial paper, corporate debt securities, and