Werewolf Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $44.8M | $56.4M | $41.8M | $53.8M | $35.3M |
| Operating expenses | $60.7M | $75.5M | $60.4M | $72.5M | $50.1M |
| Operating income | -$60.7M | -$73.6M | -$40.5M | -$56.1M | -$50.1M |
| Interest expense | $5.3M | $4.7M | $3.1M | $0 | — |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$60.8M | -$70.5M | -$37.4M | -$53.8M | -$50.0M |
| Balance Sheet | |||||
| Cash and equivalents | $57.0M | $111.0M | $134.3M | $129.3M | $157.5M |
| Current assets | $58.6M | $113.1M | $138.4M | $140.2M | $161.1M |
| Total assets | $69.4M | $126.9M | $174.8M | $160.2M | $179.2M |
| Current liabilities | $36.1M | $15.2M | $19.4M | $24.0M | $11.9M |
| Total liabilities | $44.6M | $53.5M | $63.5M | $37.9M | $26.5M |
| Stockholders' equity | $24.8M | $73.4M | $111.4M | $122.3M | $152.8M |
| Cash Flow Statement | |||||
| Cash from operations | -$60.3M | -$56.2M | -$32.6M | -$40.6M | -$42.9M |
| Depreciation and amortization | $1.6M | $1.8M | $1.8M | $1.1M | $216,000 |
| Stock-based compensation | $6.2M | $8.8M | $8.0M | $7.4M | $4.1M |
| Capital expenditure | $0 | $254,000 | $769,000 | $3.6M | $498,000 |
| Free cash flow | -$60.3M | -$56.4M | -$33.4M | -$44.2M | -$43.4M |
Shares outstanding 48.6M · Free float 49.4%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.