Whitehawk Therapeutics Signs $87.5M Private Placement Agreement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 13 2026
0mins
Whitehawk Therapeutics announced that it has entered into a securities purchase agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity financing that is expected to result in gross proceeds of approximately $87.5M, before deducting placement agent fees and other private placement expenses. The PIPE financing includes participation from existing investors including Avoro Capital, QVT, Coastlands Capital, KVP Capital, ADAR1 Capital Management, Acuta Capital Partners, StemPoint Capital LP, Invus, as well as members of the company's executive team. Pursuant to the terms of the securities purchase agreement, Whitehawk is selling an aggregate of (i) 4,330,866 shares of its common stock at a purchase price of $3.92 per share, and (ii) pre-funded warrants to purchase 17,991,021 shares of common stock at a purchase price of $3.9199 per Pre-Funded Warrant. The Pre-Funded Warrants have an exercise price of $0.0001 per share. The PIPE financing is expected to close on May 14, subject to the satisfaction of customary closing conditions. Jefferies and Leerink Partners are acting as lead placement agents for the PIPE financing. Oppenheimer & Co., Citizens Capital Markets and Jones are also acting as placement agents for the PIPE financing.
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Analyst Views on WHWK
Wall Street analysts forecast WHWK stock price to rise
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 4.490
Low
7.00
Averages
7.00
High
7.00
Current: 4.490
Low
7.00
Averages
7.00
High
7.00
About WHWK
Whitehawk Therapeutics, Inc., formerly Aadi Bioscience, Inc., is a preclinical stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved cancer treatments. Its advanced three-asset antibody drug conjugate (ADC) portfolio is engineered to overcome the limitations of first-generation predecessors to deliver a meaningful impact for patients with difficult-to-treat cancers. Its assets include HWK-007, HWK-016 and HWK-206. HWK-007 represents a differentiated opportunity to potentially be among the first next-wave ADCs in clinical development for high PTK7-expressing cancers. HWK-016 is the first ADC that targets the membrane-bound portion of MUC16, a glycoprotein often overexpressed in cancers of female origin. HWK-016 is being evaluated in IND-enabling studies. HWK-206 is designed to address the neuronal target, SEZ6, which is often overexpressed in cancers of neuroendocrine origin.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Whitehawk Develops Next-Gen ADC for Small Cell Lung Cancer
- SEZ6 Expression Advantage: SEZ6 expression in small cell lung cancer (SCLC) exceeds that of other approved and emerging ADC targets, indicating its clinical potential as an ADC target and offering new treatment options for patients.
- Dual Epitope Binding Technology: HWK-206 utilizes a biparatopic approach, suggesting potential advantages in binding and internalization, with preclinical models indicating its performance may surpass other single epitope ADCs, potentially enhancing therapeutic efficacy.
- IND Application Plans: An Investigational New Drug application for HWK-206 is expected to be submitted in mid-2026, with a Phase 1 trial planned to start in Q3 2026, marking a significant advancement in the development of treatments for SCLC and neuroendocrine tumors.
- Clinical Data Support: The findings will be presented at the 2026 American Society of Clinical Oncology Annual Meeting, further reinforcing SEZ6's clinical significance as an ADC target and potentially boosting HWK-206's market prospects.
See More
Whitehawk Develops Next-Gen ADC for Small Cell Lung Cancer
- SEZ6 Expression Analysis: SEZ6 shows expression levels in small cell lung cancer (SCLC) and other neuroendocrine tumors that are at least three times higher than other ADC targets like HER2 and B7-H3, indicating its potential as a clinically meaningful ADC target.
- Clinical Development Plans: Whitehawk plans to submit an IND application for HWK-206 in mid-2026, with a Phase 1 trial expected to start in Q3 2026, aimed at evaluating its efficacy in SCLC and neuroendocrine tumors.
- Dual Epitope Binding Strategy: HWK-206 utilizes a biparatopic design, which is anticipated to outperform other single epitope ADCs in preclinical models, potentially enhancing drug binding and internalization, thereby improving therapeutic outcomes.
- ASCO Presentation: Whitehawk will present a real-world analysis of SEZ6 at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, further validating its application potential in neuroendocrine tumors.
See More
Whitehawk Therapeutics Expands Cancer Treatment Pipeline with New Agreement
- Pipeline Expansion Agreement: Whitehawk has secured rights to use CPT113 linker-payload technology from Hangzhou DAC, which will allow the company to develop up to five additional internal programs, thereby enhancing its precision therapy capabilities and competitive position in the oncology market.
- Funding for Development: The company announced an $87.5 million private placement equity financing earlier this month, which is expected to extend its financial runway into the second half of 2028, with proceeds earmarked for advancing its antibody-drug conjugate (ADC) pipeline to ensure ongoing research and development.
- Clinical Trial Progress: Whitehawk currently has two candidates, HWK-007 and HWK-016, enrolling patients in early-stage clinical trials targeting lung, ovarian, and endometrial cancers, while a third program, HWK-206, is on track for regulatory clearance around mid-year.
- Market Sentiment Shift: Retail sentiment around WHWK stock shifted from 'bullish' to 'neutral' in the past 24 hours, although message volume decreased; analysts have set a 12-month price target of $6.5, indicating a potential upside of over 51%.
See More
Whitehawk Therapeutics Signs New Agreement with Hangzhou DAC for ADC Programs
- New Agreement Signed: Whitehawk Therapeutics has entered into an agreement with Hangzhou DAC for access to CPT113, planning to develop up to five new antibody-drug conjugate (ADC) programs, indicating the company's potential expansion in cancer treatment.
- Core Technology Validation: Data from Hangzhou DAC's DXC006 presented at the ASCO meeting further validate CPT113 as a core linker-payload technology, suggesting its potential success in clinical applications and possibly enhancing Whitehawk's market competitiveness.
- Clinical Trial Progress: Phase 1 dose-escalation trials for HWK-007 and HWK-016 are currently enrolling, with data expected in the first half of 2027, which will provide crucial clinical evidence for the company's future ADC projects.
- Strategic Development Outlook: Whitehawk plans to submit Investigational New Drug (IND) applications for multiple new programs over the next 12-24 months, demonstrating the company's ongoing investment in cancer drug development and its keen response to market demands.
See More
Whitehawk Enters New Agreement with Hangzhou DAC for ADC Programs
- New Agreement Signed: Whitehawk Therapeutics has entered into an agreement with Hangzhou DAC for access to CPT113, planning to develop up to five new antibody-drug conjugate (ADC) programs, indicating the company's potential for expansion in cancer treatment.
- Core Technology Application: CPT113 serves as the core linker-payload technology for Whitehawk's ADC platform, enhanced by its proprietary Carbon Bridge Cysteine Re-pairing (CBCR) bioconjugation process, which is expected to improve ADC stability and therapeutic index, thereby strengthening market competitiveness.
- Clinical Trial Progress: Phase 1 dose-escalation trials for HWK-007 and HWK-016 are currently enrolling, with data expected in the first half of 2027, demonstrating the company's execution capability and progress in clinical development.
- External Validation Support: Hangzhou DAC's DXC006 presented clinical data at the ASCO meeting, further validating the efficacy and safety of CPT113, which enhances Whitehawk's confidence in its ADC platform and may drive future market acceptance.
See More
Whitehawk Therapeutics to Participate in Oncology Innovation Summit
- Executive Participation: Whitehawk Therapeutics' CEO, Dr. Dave Lennon, will participate in a virtual fireside chat at the TD Cowen 7th Annual Oncology Innovation Summit on May 27, 2026, showcasing the company's cutting-edge technologies in oncology treatment.
- Live Webcast Availability: The event will be streamed live on Whitehawk Therapeutics' investor relations website and will be available for replay for approximately 30 days post-event, ensuring that investors and the public can access the latest updates.
- Technological Advantage: Whitehawk Therapeutics focuses on leveraging advanced technologies to enhance antibody-drug conjugate (ADC) cancer treatments, aiming to overcome the limitations of first-generation products and provide more effective therapies for patients with difficult-to-treat cancers.
- Exclusive Collaboration Agreement: The company has entered into an exclusive development and global commercialization agreement with WuXi Biologics to support its advanced three-asset ADC portfolio, further solidifying its market position in the clinical stage.
See More
Whitehawk Develops Next-Gen ADC for Small Cell Lung Cancer
- SEZ6 Expression Advantage: SEZ6 expression in small cell lung cancer (SCLC) exceeds that of other approved and emerging ADC targets, indicating its clinical potential as an ADC target and offering new treatment options for patients.
- Dual Epitope Binding Technology: HWK-206 utilizes a biparatopic approach, suggesting potential advantages in binding and internalization, with preclinical models indicating its performance may surpass other single epitope ADCs, potentially enhancing therapeutic efficacy.
- IND Application Plans: An Investigational New Drug application for HWK-206 is expected to be submitted in mid-2026, with a Phase 1 trial planned to start in Q3 2026, marking a significant advancement in the development of treatments for SCLC and neuroendocrine tumors.
- Clinical Data Support: The findings will be presented at the 2026 American Society of Clinical Oncology Annual Meeting, further reinforcing SEZ6's clinical significance as an ADC target and potentially boosting HWK-206's market prospects.
See More
Whitehawk Develops Next-Gen ADC for Small Cell Lung Cancer
- SEZ6 Expression Analysis: SEZ6 shows expression levels in small cell lung cancer (SCLC) and other neuroendocrine tumors that are at least three times higher than other ADC targets like HER2 and B7-H3, indicating its potential as a clinically meaningful ADC target.
- Clinical Development Plans: Whitehawk plans to submit an IND application for HWK-206 in mid-2026, with a Phase 1 trial expected to start in Q3 2026, aimed at evaluating its efficacy in SCLC and neuroendocrine tumors.
- Dual Epitope Binding Strategy: HWK-206 utilizes a biparatopic design, which is anticipated to outperform other single epitope ADCs in preclinical models, potentially enhancing drug binding and internalization, thereby improving therapeutic outcomes.
- ASCO Presentation: Whitehawk will present a real-world analysis of SEZ6 at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, further validating its application potential in neuroendocrine tumors.
See More
Whitehawk Therapeutics Expands Cancer Treatment Pipeline with New Agreement
- Pipeline Expansion Agreement: Whitehawk has secured rights to use CPT113 linker-payload technology from Hangzhou DAC, which will allow the company to develop up to five additional internal programs, thereby enhancing its precision therapy capabilities and competitive position in the oncology market.
- Funding for Development: The company announced an $87.5 million private placement equity financing earlier this month, which is expected to extend its financial runway into the second half of 2028, with proceeds earmarked for advancing its antibody-drug conjugate (ADC) pipeline to ensure ongoing research and development.
- Clinical Trial Progress: Whitehawk currently has two candidates, HWK-007 and HWK-016, enrolling patients in early-stage clinical trials targeting lung, ovarian, and endometrial cancers, while a third program, HWK-206, is on track for regulatory clearance around mid-year.
- Market Sentiment Shift: Retail sentiment around WHWK stock shifted from 'bullish' to 'neutral' in the past 24 hours, although message volume decreased; analysts have set a 12-month price target of $6.5, indicating a potential upside of over 51%.
See More
Whitehawk Therapeutics Signs New Agreement with Hangzhou DAC for ADC Programs
- New Agreement Signed: Whitehawk Therapeutics has entered into an agreement with Hangzhou DAC for access to CPT113, planning to develop up to five new antibody-drug conjugate (ADC) programs, indicating the company's potential expansion in cancer treatment.
- Core Technology Validation: Data from Hangzhou DAC's DXC006 presented at the ASCO meeting further validate CPT113 as a core linker-payload technology, suggesting its potential success in clinical applications and possibly enhancing Whitehawk's market competitiveness.
- Clinical Trial Progress: Phase 1 dose-escalation trials for HWK-007 and HWK-016 are currently enrolling, with data expected in the first half of 2027, which will provide crucial clinical evidence for the company's future ADC projects.
- Strategic Development Outlook: Whitehawk plans to submit Investigational New Drug (IND) applications for multiple new programs over the next 12-24 months, demonstrating the company's ongoing investment in cancer drug development and its keen response to market demands.
See More
Whitehawk Enters New Agreement with Hangzhou DAC for ADC Programs
- New Agreement Signed: Whitehawk Therapeutics has entered into an agreement with Hangzhou DAC for access to CPT113, planning to develop up to five new antibody-drug conjugate (ADC) programs, indicating the company's potential for expansion in cancer treatment.
- Core Technology Application: CPT113 serves as the core linker-payload technology for Whitehawk's ADC platform, enhanced by its proprietary Carbon Bridge Cysteine Re-pairing (CBCR) bioconjugation process, which is expected to improve ADC stability and therapeutic index, thereby strengthening market competitiveness.
- Clinical Trial Progress: Phase 1 dose-escalation trials for HWK-007 and HWK-016 are currently enrolling, with data expected in the first half of 2027, demonstrating the company's execution capability and progress in clinical development.
- External Validation Support: Hangzhou DAC's DXC006 presented clinical data at the ASCO meeting, further validating the efficacy and safety of CPT113, which enhances Whitehawk's confidence in its ADC platform and may drive future market acceptance.
See More
Whitehawk Therapeutics to Participate in Oncology Innovation Summit
- Executive Participation: Whitehawk Therapeutics' CEO, Dr. Dave Lennon, will participate in a virtual fireside chat at the TD Cowen 7th Annual Oncology Innovation Summit on May 27, 2026, showcasing the company's cutting-edge technologies in oncology treatment.
- Live Webcast Availability: The event will be streamed live on Whitehawk Therapeutics' investor relations website and will be available for replay for approximately 30 days post-event, ensuring that investors and the public can access the latest updates.
- Technological Advantage: Whitehawk Therapeutics focuses on leveraging advanced technologies to enhance antibody-drug conjugate (ADC) cancer treatments, aiming to overcome the limitations of first-generation products and provide more effective therapies for patients with difficult-to-treat cancers.
- Exclusive Collaboration Agreement: The company has entered into an exclusive development and global commercialization agreement with WuXi Biologics to support its advanced three-asset ADC portfolio, further solidifying its market position in the clinical stage.
See More
