Werewolf Therapeutics reported its fourth quarter and full year 2025 financial results, including a net loss of $8.4 million for Q4 2025 and $60.8 million for the full year. The company also announced it has initiated a process to explore strategic alternatives, including a potential sale, merger, or asset sale, and has engaged Piper Sandler as its exclusive financial advisor.
Key takeaways
The company reported a net loss of $8.4 million for Q4 2025, compared to $20.4 million in Q4 2024.
Cash and cash equivalents were $57.1 million as of December 31, 2025, which the company believes is sufficient to fund operations into Q4 2026.
Werewolf has initiated a process to explore strategic alternatives, including a sale of the company, business combination, merger, or sale of assets.
Piper Sandler & Co. has been engaged as the exclusive financial advisor to assist in the strategic evaluation process.
Research and development expenses were $6.9 million for Q4 2025, down from $15.7 million in Q4 2024.
General and administrative expenses were $2.5 million for Q4 2025, down from $4.6 million in Q4 2024.