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Jun 30
Werewolf Therapeutics Q2 2025 Earnings Report
Werewolf Therapeutics reported a net loss for Q2 2025 while continuing progress on its clinical-stage and preclinical pipelines.
Key Takeaways
Werewolf Therapeutics posted no revenue for Q2 2025 and recorded a net loss of $18.0M. The company continued advancing clinical trials for WTX-124 and WTX-330 and announced a new preclinical candidate, WTX-1011. Operating expenses declined YoY, and cash reserves were reported at $77.6M.
No collaboration revenue reported in Q2 2025
Net loss of $18.0M or $0.40 per share
Cash and cash equivalents totaled $77.6M
Clinical progress continued with WTX-124 and WTX-330, and WTX-1011 was introduced
Werewolf Therapeutics
Werewolf Therapeutics
Forward Guidance
Werewolf expects interim data from its lead asset WTX-124 in Q4 2025, continued trial enrollment for WTX-330, and preclinical development of its new T-cell engager candidate, WTX-1011.
Positive Outlook
- WTX-124 trial on track for interim data readout in Q4 2025
- FDA engagement planned for WTX-124 registration discussions
- WTX-330 trial actively enrolling patients
- WTX-1011 introduced as first INDUCER T-cell engager candidate
- Sufficient cash runway into Q4 2026
Challenges Ahead
- No revenue generated in Q2 2025
- Net loss widened YoY
- Decrease in cash from previous quarter
- Total stockholders' equity declined significantly
- Higher R&D and G&A expenses continue to weigh on earnings