Company: WHWK
Filing Date: 2025-01-31
Form Type: DEFM14A
Source: 0001193125-25-018470
Chunk: 258

Company: Whitehawk Therapeutics, Inc.
Filing Date: 2025-01-31
Form: DEFM14A
Chunk 258
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 study has been closed and the study is winding down. Under the terms of the agreement, Mirati was responsible for sponsoring and operating the Phase 1/2 study and we supplied study drug and jointly shared the cost of the study, which will continue during the winding down process. Key Trends and Factors Affecting Comparability Between Periods

| • |     | Commercial sale of FYARRO was launched on February 22, 2022, for the treatment of patients with advanced                                                                                                                               
 malignant PEComa. We recorded net product sales of $7.2 million and $18.7 million during the three and nine months ended September 30, 2024, respectively. We recorded net product sales of $24.4 million and $15.2 million during the 
 years ended December 31, 2023 and 2022, respectively.                                                                                                                                                                                  |

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| • |     | We expect to decrease our investment in research and development as a result of our halt and subsequent wind-down                                                   
 of the PRECISION1 study following interim data results and the pause of enrollment of our two Phase 2 trials of FYARRO in patients with EEC and NETs, respectively. |

| • |     | Under the BMS License Agreement, as described above, we made a payment of $5.8 million to BMS on 
 August 26, 2024.                                                                                 |

| • |     | Our future expenses may fluctuate significantly from quarter-to-quarter and year-to-year, depending on our strategic review and the ultimate outcome of that process. |

Liquidity and Capital Resources As of September 30, 2024, we had $62.6 million of cash, cash equivalents and short-term investments. We have incurred net losses in each year since inception and as of September 30, 2024, we had an accumulated deficit of $314.4 million. These losses have resulted principally from costs incurred in connection with research and development activities, selling, general and administrative costs associated with our operations, and costs associated with the Reverse Merger. We expect to continue to incur significant expenses and operating losses for the foreseeable future due to the cost of research and development, including conducting preclinical and clinical trials and identifying and designing product candidates, the regulatory approval process for FYARRO outside the United States and in additional indications and any other product candidates we may develop in the future and the continued commercialization of FYARRO. Impact of Negative Global or National Events Businesses have been and