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Werewolf Therapeutics Q1 2025 Earnings Report
Werewolf Therapeutics reported a net loss of $18.089 million for Q1 2025, with no collaboration revenue, and an increase in research and development expenses.
Key Takeaways
Werewolf Therapeutics experienced a net loss of $18.089 million in the first quarter of 2025, compared to a net loss of $16.193 million in the same period last year. The company reported no collaboration revenue for the current quarter, a decrease from $742 thousand in Q1 2024. Research and development expenses increased slightly to $13.120 million, while general and administrative expenses saw a minor decrease. The company's cash and cash equivalents stood at $92.042 million as of March 31, 2025.
Net loss for Q1 2025 was $18.089 million, an increase from $16.193 million in Q1 2024.
No collaboration revenue was recognized in Q1 2025, a significant drop from $742 thousand in Q1 2024.
Research and development expenses increased to $13.120 million in Q1 2025, up from $12.908 million in Q1 2024, primarily due to increased clinical trial costs.
Cash and cash equivalents decreased to $92.042 million as of March 31, 2025, from $110.995 million as of December 31, 2024.
Forward Guidance
Werewolf Therapeutics expects to continue incurring substantial and increasing expenses and net losses for the foreseeable future as it advances product candidates through preclinical and clinical development. The company anticipates needing substantial additional funding beyond its current cash and cash equivalents to support future operations and growth strategy.
Positive Outlook
- Expects existing cash and cash equivalents to fund operating expenses and capital expenditure requirements for at least twelve months from the date of issuance of the condensed consolidated financial statements.
- Plans to present interim data from WTX-124 monotherapy and combination expansion arms in the second half of 2025.
- Initiated a Phase 1b/2 clinical trial of WTX-330 in the first quarter of 2025.
- Continues to build its PREDATOR platform to generate a pipeline of innovative therapeutics.
- Expects to nominate its first INDUCER development candidate in the second quarter of 2025.
Challenges Ahead
- Will need substantial additional funding to finance operations and complete development of product candidates beyond the current cash runway.
Historical Earnings Impact
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