Werewolf Therapeutics, Inc. reported a net loss of $70.5 million for the fiscal year ended December 31, 2024, compared to a net loss of $37.4 million in 2023. Revenue for 2024 totaled $1.9 million, significantly down from $19.9 million in 2023. The decrease in revenue is attributed to the completion of material performance obligations under the Collaboration Agreement with Jazz Pharmaceuticals Ireland Limited in June 2024, resulting in the recognition of all deferred revenue by year-end. Research and development expenses increased by $14.7 million to $56.4 million in 2024, primarily due to increased manufacturing and clinical trial costs for WTX-124 and WTX-330.
Significant developments during the year included updated interim data releases for the Phase 1/1b clinical trial of WTX-124, including the selection of a recommended dose for expansion, and the initiation of dose expansion arms. Initial data from combination therapy dose escalation cohorts were also reported. For WTX-330, initial Phase 1 clinical trial data were reported in June 2024, with updated interim safety and efficacy data presented at the Society for Immunotherapy of Cancer Annual Meeting in November 2024. An amended IND for WTX-330 was submitted, and a Phase 1/2 trial is expected to begin in the first quarter of 2025. The company also presented preclinical data for WTX-712 and WTX-518 at the American Association for Cancer Research annual meeting.
The company's pipeline includes WTX-124 (IL-2 INDUKINE molecule), WTX-330 (IL-12 INDUKINE molecule), WTX-712 (IL-21 INDUKINE molecule), WTX-518 (IL-18 INDUKINE molecule), and WTX-921 (IL-10 INDUKINE molecule). JZP898 (IFNα INDUKINE molecule) was licensed to Jazz Pharmaceuticals. As of December 31, 2024, Werewolf had 46 full-time employees, 33 of whom were engaged in research and development. The company's strategy focuses on advancing WTX-124 and WTX-330 through clinical development, advancing other candidates through preclinical development, and establishing a leading position in protein engineering.
Werewolf Therapeutics ended 2024 with $111.0 million in cash and cash equivalents, which the company expects will fund operations through at least the second quarter of 2026. However, the company anticipates needing substantial additional funding to complete the development and commercialization of its product candidates. Funding sources may include public or private equity offerings, debt financings, collaborations, and licensing arrangements. The company's financial performance is subject to numerous risks, including those related to clinical trial outcomes, regulatory approvals, competition, manufacturing, and intellectual property protection, all of which are detailed in the 10-K filing. The company plans to meet with regulatory authorities to discuss potential registrational pathways for WTX-124 in the second half of 2025 and release a clinical data update in the fourth quarter of 2025.
About Werewolf Therapeutics, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.