HOWL News & Events

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.

In a regulatory filing, the company said, "On February 9, 2026, the board of directors of Werewolf Therapeutics approved a reduction in force, representing 64% of the company's workforce. The company expects the reduction to be substantially completed by February 13, 2026. The company is undertaking the reduction to decrease operating expenses. As a result of the reduction, the company estimates that it will record a one-time charge in the first quarter of 2026 related to employee separation benefits, including severance and related benefits, of approximately $4.1 million, all of which is anticipated to result in cash expenditures to be incurred in the first quarter of 2026. The company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the reduction. The estimated charges that the company expects to incur are subject to a number of assumptions, and actual results may differ materially from these estimates."