Company: WHWK
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023932
Chunk: 614

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 614
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 FYARRO, an increase of $2.2 million in legal and other expenses, 

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offset by a decrease of $3.5 million of personnel expenses primarily related to severance expense incurred in 2024 due to the restructuring of our commercial, medical affairs, and corporate support functions, and a $0.3 million decrease in commercial and marketing expenses.

Research and Development Expenses

The following table presents our research and development expenses for the periods indicated (in thousands):

Three Months Ended March 31,20252024Personnel expenses$3,800 $6,297 Consultants383 415 External clinical development2,389 4,431 Clinical drug product manufacturing2,085 2,177 Other expenses131 273 Total research and development expenses$8,788 $13,593 

Research and development expenses for the three months ended March 31, 2025 and 2024 were $8.8 million and $13.6 million, respectively. The decrease of $4.8 million was driven by a $2.7 million decrease in personnel expense, consulting expense, and other expenses, a $2.0 million decrease in clinical development expenses primarily related to the PRECISION1 trial, and a $0.1 million decrease in clinical drug product manufacturing.

Cost of Goods Sold

Cost of goods sold was $0.8 million and $0.7 million for the three months ended March 31, 2025, and 2024, respectively, primarily reflecting royalties incurred on product sold. 

Other Income (Expense), Net

Other income, net for the three months ended March 31, 2025 was $88.2 million, compared to other income, net of $1.2 million for the three months ended March 31, 2024. The change was primarily driven by a gain on sale of a business related to the divestiture of FYARRO during the three months ended March 31, 2025.

Liquidity and Capital Resources

Overview

As of March 31, 2025 we had $231.1 million of cash, cash equivalents and short-term investments. Based on our current plans, we believe our existing cash, cash equivalents and short-term investments will enable us to conduct our planned operations into 2028.

We have incurred net losses in each year since inception except for the three months ended March 31, 2025 as we incurred net income due to the sale of a business