Company: WHWK
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015269
Chunk: 199

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 199
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's revenues are derived by FYARRO. All the assets and operations of the Company’s sole operating and reportable segment are located in the United States.Significant segment expenses which are regularly reported to the CODM for purposes of making decisions regarding the allocation of resources are included within the table below and are reconciled to consolidated net loss (in thousands): Year Ended December 31,20242023Product sales, net$25,983 $24,354 Less:FYARRO - research and development expenses34,338 39,693 FYARRO - contract manufacturing expenses10,692 9,236 In process research and development expenses6,000 — FYARRO - commercial and marketing expenses2,130 7,881 Finance and accounting expenses (1)11,758 12,216 Legal expenses7,437 8,709 Other segment items (2)21,244 18,784 Interest income(3,925)(6,400)Net loss$(63,691)$(65,765) (1) Finance and accounting expenses primarily include shared-based compensation, insurance, salaries and wages, and other outside consulting services. (2) Other segment items primarily include other SGA departmental expenses, cost of sales, restructure costs, interest expense, and foreign exchange loss.

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16. Subsequent Events

Divestiture of FYARROOn December 19, 2024, the Company entered into the Divestiture Agreement with KAKEN, KAKEN PHARMACEUTICAL CO., LTD, and Aadi Subsidiary for the sale to KAKEN of 100% of the outstanding shares of capital stock of Aadi Subsidiary and thereby all of Whitehawk’s assets related to its FYARRO (sirolimus protein-bound particles for injectable suspension) (albumin-bound) program. Per the terms and subject to the conditions of the Divestiture Agreement, KAKEN paid to the Company a cash payment of $102.4 million (following applicable purchase price adjustments under the Divestiture Agreement) at the closing of the FYARRO Divestiture on March 25, 2025.PIPE FinancingOn December 19, 2024, the Company entered into the Subscription Agreement with PIPE Investors, pursuant to which the Company agreed to sell to the PIPE Investors (i) 21,592,000 shares of the Company’s common stock, par value $0.0001 per share,