One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Werewolf Therapeutics, Inc.
HOWL · NCM · Healthcare · Biotechnology
Current price
$0.96
52-week range
$0.27 - $2.38
Market cap
$46.65M
Balance sheet
Healthy
-11.50x Concerning
Net cash $21.99M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
1 Risk
0 rewards · 1 risks
View details ↓What this company does
Werewolf Therapeutics, Inc.
Werewolf Therapeutics is a healthcare company developing new ways to treat cancer and other diseases by using the body's own immune system. Its main focus is creating drugs that "wake up" to fight the illness only when they reach the right spot, like a tumor, which could make them more effective with fewer side effects. Since its treatments are still being tested and are not yet for sale, the company's success depends on whether its scientific research leads to approved medicines in the future.
How the company got here
Werewolf Therapeutics was founded in 2017 and came out of hiding, or 'stealth,' in 2019 with $56 million in initial funding. The company's name comes from its core idea: creating treatments that are masked or inactive in the body, only revealing their power to fight cancer when they reach a tumor. It has since focused on developing and testing its new types of drugs in clinical trials, which are research studies with people to see if a new treatment is safe and effective. In a significant recent move, the company announced it is exploring strategic options to increase its value for investors and has entered into a merger agreement with another company, Ambros Therapeutics, securing substantial new funding.
What it actually does
Werewolf Therapeutics is a biotechnology company that develops medicines to help your own immune system fight cancer. It uses a special technology platform it calls PREDATOR™ to create drugs that are 'conditionally activated,' meaning they are designed to switch on only inside a tumor. This approach aims to avoid harming healthy parts of the body, which can cause the severe side effects often seen with powerful immune-stimulating treatments. The goal is to deliver a powerful punch directly to the cancer cells while leaving healthy cells alone.
INDUKINE™ Molecules (Clinical-Stage Cancer Therapies)
This is the company's most developed business area, focused on a type of drug called INDUKINE™ molecules. These are essentially powerful immune-stimulating proteins, like Interleukin-2 (IL-2) and Interleukin-12 (IL-12), that are engineered to activate only in the tumor environment (the area immediately surrounding a tumor). The two leading drug candidates, WTX-124 and WTX-330, are currently in clinical trials for patients with various types of solid tumors. While these programs have shown promising results, the company is now looking for larger pharmaceutical partners to help fund and continue their development.
INDUCER™ Molecules (Next-Generation Cancer Therapies)
This is a newer and growing part of the company's business focused on what are called T-cell engagers. Think of these as molecules that act like a bridge, grabbing onto both a cancer cell and one of your immune system's T-cells (a type of white blood cell that kills infected or cancerous cells) to force them together and trigger an attack. Werewolf is using its masking technology to create what it hopes will be a safer and more effective version of these therapies. Its first two candidates in this area are WTX-1011 for prostate cancer and WTX-2022 for ovarian and kidney cancer.
Partnered Programs and Platform Licensing
A smaller but important way Werewolf makes money is by partnering with other, often larger, pharmaceutical companies. In these deals, the partner may pay Werewolf for the rights to use its PREDATOR™ technology to develop a new drug. For example, a collaboration with Jazz Pharmaceuticals on a drug candidate called JZP898 brought in revenue (money earned from business activities) for the company. These partnerships provide funding and also serve as an outside endorsement of the company's scientific approach.
What management is betting on now
The company's leadership is currently focused on leveraging the promising results from its initial INDUKINE™ drugs to build out its newer INDUCER™ platform of T-cell engagers. A top priority is seeking strategic partnerships for its more advanced clinical programs to help cover the high costs of late-stage drug development. Recently, the company announced it is exploring a range of major strategic options, which could include selling the company, merging, or licensing its assets to maximize value for its shareholders (the people who own stock in the company). A merger agreement with Ambros Therapeutics, along with a large private investment, is a key part of this new strategy to fund future growth.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-12.46M
FY2024 Q4
$-14.38M
FY2025 Q1
$-18.95M
FY2025 Q2
$-15.16M
FY2025 Q3
$-15.16M
FY2025 Q4
$-11.02M
Revenue
—
Net income
$3.67M
Diluted EPS
0.08
Operating cash flow
$6.63M
Free cash flow
—
Fetching…
Sources
Revenue
—
Net income
$-13.53M
Diluted EPS
-0.28
Operating cash flow
$-10.60M
Free cash flow
—
Fetching…
Sources
Revenue
—
Net income
$-8.38M
Diluted EPS
-0.17
Operating cash flow
$-11.02M
Free cash flow
$-11.02M
Fetching…
Sources
Revenue
—
Net income
$-16.37M
Diluted EPS
-0.36
Operating cash flow
$-15.16M
Free cash flow
$-15.16M
Fetching…
Sources
Revenue
—
Net income
$-17.98M
Diluted EPS
-0.40
Operating cash flow
$-15.16M
Free cash flow
$-15.16M
Fetching…
Sources
Revenue
—
Net income
$-18.09M
Diluted EPS
-0.40
Operating cash flow
$-18.95M
Free cash flow
$-18.95M
Fetching…
Sources
Revenue
—
Net income
$-20.40M
Diluted EPS
-0.43
Operating cash flow
$-14.25M
Free cash flow
$-14.38M
Fetching…
Sources
Revenue
—
Net income
$-16.67M
Diluted EPS
-0.38
Operating cash flow
$-12.46M
Free cash flow
$-12.46M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $0.96
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $22.0M - more cash than debt. Interest coverage -11.5x.
Net debt
$-21.99M
Interest coverage
-11.50x
Werewolf Therapeutics, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
HOWL
BASELINE
Werewolf Therapeutics, Inc.
Total debt $0.00 Interest coverage -11.50x This is the baseline the peer rows are being compared against.
Total debt $5.70M Interest coverage -4.30x Neither company has much profit cushion over interest right now.
Total debt $11.04M Interest coverage -62.95x Neither company has much profit cushion over interest right now.
What you should know
The case for and against HOWL
0 Rewards
1 Risk
Rewards
Risks
-
Return on equity was -119.9% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-1.63x
P/B
2.87x
P/S
2.22x
EV/EBITDA
-1.12x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
-24.7%
Operating margin
40.7%
Net margin
-164.8%
ROE
-119.9%
ROA
-27.4%
Health
Liquidity and balance-sheet strength
Debt / equity
—
Current ratio
2.91x
Quick ratio
2.80x
Total debt
$0.00
Total cash
$21.99M
Growth
How the business has been compounding
Revenue TTM
$21.00M
Revenue 5Y CAGR
—
EPS TTM
-0.73
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-30.15M
Free CF TTM
$-60.29M
FCF margin
-287.1%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—