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Aadi Bioscience Q4 2024 Earnings Report
Aadi Bioscience reported its Q4 2024 earnings, with a net loss of $18.3 million and total revenue of $7.2 million, as it relaunched as Whitehawk Therapeutics focusing on ADC assets.
Key Takeaways
Aadi Bioscience, now Whitehawk Therapeutics, reported a net loss of $18.3 million for Q4 2024, compared to a net loss of $16.3 million in Q4 2023. Total revenue for the quarter was $7.2 million, primarily from FYARRO sales. The company also announced its rebranding and strategic focus on ADC assets, with cash and cash equivalents at $47.2 million as of December 31, 2024.
Aadi Bioscience officially relaunched as Whitehawk Therapeutics, shifting its focus to advanced ADC therapies.
The company reported a net loss of $18.3 million for Q4 2024, an increase from $16.3 million in the same period last year.
Total revenue for Q4 2024 was $7.2 million, primarily driven by sales of FYARRO.
Cash, cash equivalents, and short-term investments stood at $47.2 million as of December 31, 2024, with an expected increase to $170 million to $180 million post-strategic transactions.
Revenue by Segment
Forward Guidance
Whitehawk Therapeutics expects its robust balance sheet to fund operations into 2028, enabling key clinical data readouts for its ADC assets. The company aims to bring all three ADC assets to IND within the next 15 months.
Positive Outlook
- Cash and cash equivalents are expected to be in the range of $170 million to $180 million after strategic transactions, including the upfront and early milestones under the Wuxi ADC agreement.
- The robust balance sheet is anticipated to fund operations into 2028, supporting anticipated key clinical data readouts for ADC assets.
- The company plans to bring all three ADC assets (HWK-007, HWK-016, HWK-206) to IND within the next 15 months.
- HWK-007 is being evaluated in IND-enabling studies with Phase 1 trial planned for non-small cell lung cancer and platinum resistant ovarian cancer.
- HWK-016 is currently in IND-enabling studies with Phase 1 trial planned for ovarian cancer, with potential expansion into endometrial and cervical cancers.
Challenges Ahead
- Uncertainties associated with preclinical and clinical development of the ADC portfolio, including potential delays in commencement, enrollment, and completion of clinical trials.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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