Business
Werewolf Therapeutics Reports Fourth Quarter 2021 and Full Year 2021 Financial Results and Provides Business Highlights
-Closed upsized IPO in May 2021 raising $120 million in gross proceeds- -Announced clinical trial collaboration with Merck for WTX-124 INDUKINETM program-
About this update from Werewolf Therapeutics, Inc.
[{"type":"text","content":"-Closed upsized IPO in May 2021 raising $120 million in gross proceeds- -Announced clinical trial collaboration with Merck for WTX-124 INDUKINETM program- -Reported positive preclinical data at SITC demonstrating the potential to drive targeted anti-tumor immune responses with IL-2, IL-12 and IFNα INDUKINE molecules- -Reported positive preclinical data at ASH demonstrating anti-tumor activity in lymphoma models for IL-12 and IFNα INDUKINE molecules- CAMBRIDGE, Mass., March 24, 2022 (GLOBE NEWSWIRE) -- Werewolf Therapeutics, Inc. (the “Company” or “Werewolf”) (Nasdaq: HOWL), an innovative biopharmaceutical company pioneering the development of conditionally activated therapeutics engineered to stimulate the body’s immune system for the treatment of cancer, today provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2021. “This has been an exciting year for Werewolf as we executed our public offering and advanced our novel INDUKINE molecule pipeline. We expect to file the IND for our first candidate, WTX-124, in the second quarter of 2022, and the IND for our second candidate, WTX-330, early in the third quarter of 2022. The anticipated initiation of these clinical studies remains consistent with our previous expectations,” said Daniel J. Hicklin, Ph.D., President and Chief Executive Officer of Werewolf. “We are pleased with the progress that we made in our first year as a public company and expect that 2022 will be a pivotal year for the Company as we anticipate entering the clinic and continue to progress our pipeline.” 2021 Highlights Completed upsized Initial Public Offering: In May 2021, Werewolf completed its Initial Public Offering (IPO) of 7,500,000 shares of common stock at a public offering price of $16.00 per share. Gross proceeds from the IPO were $120 million and net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, were approximately $109.2 million. Entered clinical trial collaboration with Merck for Werewolf’s WTX-124 INDUKINE program: In August 2021, Werewolf announced that it entered into a clinical trial collaboration agreement with Merck, known as MSD outside the United States and Canada, to evaluate WTX-124, a systemically-delivered, conditionally activated Interleukin-2 (IL-2) INDUKINE molecule, in ...