10-K · March 27, 2026
Werewolf Therapeutics (HOWL) is conducting a strategic review and implemented a restructuring (64% workforce reduction) to extend capital while pursuing a sale, license or other alternatives; the company reported…
Earnings analysis · 10-Q
HOWL earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Werewolf Therapeutics reported disappointing financial results for Q4 2026, with zero revenue and an improved diluted EPS of -$0.20, surpassing analyst expectations. The company continues to struggle with significant…
Read full summary
Werewolf Therapeutics reported disappointing financial results for Q4 2026, with zero revenue and an improved diluted EPS of -$0.20, surpassing analyst expectations. The company continues to struggle with significant losses, prompting management to evaluate strategic alternatives to enhance shareholder value amidst ongoing operational concerns.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.2
What stood out
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Improved EPS Compared to Consensus
Diluted EPS of -$0.20, beating the estimated EPS of -$0.34 by $0.14.
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Zero Revenue Again
The company reported $0.0 revenue, marking a continuation of revenue decline compared to estimates of $600K.
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Cash Reserves Update
As of March 31, 2026, cash and cash equivalents total $46.5 million.
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Debt Repayment Completed
All amounts owed under the K2HV Loan Agreement were repaid totaling approximately $31.4 million.
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Strategic Alternatives Under Evaluation
Management indicated ongoing evaluation of strategic options to improve shareholder value.
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Pending Regulatory Changes
Ongoing healthcare reform proposals could further complicate the pharmaceutical pricing landscape affecting future operations.
What to watch
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No Revenue Realized
The firm reported zero revenue again, raising concerns about its ability to sustain operations.
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Significant Net Losses
Net loss for the quarter was $13.5 million, continuing a trend of substantial operating losses.
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Going Concern Doubts
Management expressed substantial doubt about the ability to continue operations for the next twelve months.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · November 7, 2024
Werewolf reported zero collaboration revenue for Q3 (three months ended September 30, 2024) versus $5,897 thousand in the prior-year quarter, while operating loss widened to $17,124 thousand (from $9,251 thousand) and…
10-Q · August 8, 2024
Werewolf reported collaboration revenue of $1,143 (in thousands) for Q2 and a GAAP diluted loss per share of $(0.43). Revenue recognized in the quarter reflected the final recognition of the Jazz collaboration (deferred…
10-Q · November 14, 2023
Werewolf reported Q3 revenue of $5,897,000 (collaboration revenue), up from $4,970,000 in Q3 2022, and reduced its net loss to $(8,285,000) versus $(11,943,000) a year ago. GAAP diluted EPS improved to $(0.23) from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.