WHWK · Whitehawk Therapeutics Inc

Whitehawk Therapeutics entered into a securities purchase agreement on May 12, 2026, for a PIPE financing expected to raise $87.5 million in gross proceeds. The company will issue 4,330,866 shares of common stock at $3.92 per share and 17,991,021 pre-funded warrants at $3.9199 per warrant. The pre-funded warrants have a nominal exercise price of $0.0001 per share, are immediately exercisable, and do not expire. The financing includes participation from existing investors such as Avoro Capital, QVT, Coastlands Capital, and members of the executive team, who committed an aggregate of $39.75 million. The closing is expected on May 14, 2026, subject to customary conditions. The company intends to use the net proceeds for working capital and general corporate purposes, including advancing its ADC pipeline, and expects the funds to extend its cash runway into the second half of 2028. The offering is exempt from registration under Section 4(a)(2) of the Securities Act. The placement agents include Jefferies, Leerink Partners, Oppenheimer, Citizens JMP Securities, and JonesTrading. Executive officers and directors have agreed to lock-up arrangements for 60 days following the closing.