Whitehawk Therapeutics Secures Rights for Five ADC Programs; Shares Rise 2% After Hours
Whitehawk Therapeutics' shares rose 2% in after-hours trading after an option agreement granted rights to Hangzhou DAC’s CPT113 linker-payload technology for up to five additional ADC programs, with IND filings expected in 12–24 months. The oncology firm raised $87.5M in a private placement, extending its cash runway into H2 2028.
1. Option Agreement Expands ADC Pipeline
Whitehawk secured rights from Hangzhou DAC to use CPT113 linker-payload technology in up to five additional internally developed antibody-drug conjugate programs, retaining full global rights and control. The company plans to file applications for human testing of several new programs within the next 12 to 24 months.
2. Ongoing Clinical Candidates
Whitehawk currently has two ADC candidates, HWK-007 and HWK-016, enrolling patients in early-stage trials for lung, ovarian and endometrial cancers. A third program, HWK-206, is on track for regulatory clearance to begin testing around mid-year.
3. Private Placement Financing
Earlier this month, Whitehawk completed an $87.5 million private placement equity financing. The proceeds, combined with existing cash, are expected to extend the company’s operating runway into the second half of 2028 and fund advancement of its expanded ADC pipeline.
4. Share Performance and Analyst Outlook
Shares rose 2% in after-hours trading following the pipeline expansion announcement. Analysts are split evenly with three 'Buy' and three 'Hold' ratings and a 12-month average price target of $6.50, implying potential upside of over 50%, while shares have gained 123% over the past 12 months.