Whitehawk Reports $123M Cash, Advances Phase 1 Trials, Plans HWK-206 IND
WHWK•Whitehawk reported Q1 2026 results with $123.0 million in cash and short-term investments as of March 31, funding operations into 2028, and a $22.2 million net loss versus a $73.0 million gain a year earlier. Enrollment in Phase 1 trials for HWK-007 and HWK-016 continues, and an IND submission for HWK-206 is planned in mid-2026.
1. Pipeline Progress
Whitehawk continues patient enrollment in two Phase 1 dose-escalation trials: HWK-007 in non-squamous, EGFR wild-type non-small cell lung cancer, platinum-resistant ovarian cancer and endometrial cancer, and HWK-016 in advanced ovarian and endometrial cancers.
2. Preclinical Data Highlights
Comprehensive preclinical data from the proprietary CBCR platform demonstrated potent tumor regressions, high plasma stability and favorable tolerability for HWK-007, HWK-016 and HWK-206 in non-human primates, while real-world analysis confirmed MUC16 as a highly expressed ADC target in ovarian and endometrial cancers.
3. Q1 Financial Results
As of March 31, 2026, Whitehawk held $123.0 million in cash, cash equivalents and short-term investments, with R&D expenses of $17.2 million versus $8.8 million a year ago, resulting in a net loss of $22.2 million compared to a $73.0 million gain in Q1 2025.
4. Anticipated Milestones
The company plans to submit an IND for HWK-206 targeting small-cell lung cancer and neuroendocrine tumors in mid-2026, launch Phase 1 recruitment in Q3 2026, and expects initial data from HWK-007 and HWK-016 in the first half of 2027.
