HOWL News & Events

Werewolf Therapeutics announced that the company has engaged Piper Sandler & Co. to serve as exclusive financial advisor to assist in a strategic evaluation process. "The company does not have a defined timeline for the exploration and evaluation of strategic alternatives and cannot confirm that the process will result in any strategic alternative being announced or consummated. The company cannot provide any commitment regarding when or if this strategic evaluation process will result in any type of transaction, and there can be no assurance that such activities will result in any agreements or transactions that will enhance stockholder value. The company does not intend to discuss or disclose further developments during this process unless and until its board of directors has approved a specific action or the company has otherwise determined that further disclosure is appropriate," the company said. "We have initiated a process to explore a range of alternatives available to the Company to maximize stockholder value. Such measures may include, among other options, a sale of the Company, a business combination or merger, a sale of assets, licensing or collaboration arrangements, or other strategic transactions. In addition to our clinical-stage candidates and our named earlier-stage candidates, our INDUKINE and INDUCER platforms provide exciting opportunities to apply our differentiated masking and protease linker technology in multiple additional modalities," said Daniel Hicklin, Ph.D., President and Chief Executive Officer of Werewolf.

As of December 31, 2025, cash and cash equivalents were $57.1M, compared to $65.7M as of September 30, 2025. The company believes its cash and cash equivalents as of December 31, 2025, will be sufficient to fund operational expenses and capital requirements into the fourth quarter of 2026. "We have initiated a process to explore a range of alternatives available to the Company to maximize stockholder value," said Daniel Hicklin, president and CEO of Werewolf. "Such measures may include, among other options, a sale of the Company, a business combination or merger, a sale of assets, licensing or collaboration arrangements, or other strategic transactions. In addition to our clinical-stage candidates and our named earlier-stage candidates, our INDUKINE and INDUCER platforms provide exciting opportunities to apply our differentiated masking and protease linker technology in multiple additional modalities."

Werewolf Therapeutics to explore range of strategic alternatives

Earlier this evening, Werewolf Therapeutics "announced that the company will explore a full range of strategic alternatives to advance its promising platform and drug development pipeline to maximize stockholder value. The Company has engaged Piper Sandler & Co. to serve as exclusive financial advisor to assist in the strategic evaluation process." Shares are down about 5% afterhours at $0.63.