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Companies / Health Care / Werewolf Therapeutics, Inc.
HOWL

Werewolf Therapeutics, Inc.

Health CarePharmaceutical Preparations
Ticker HOWLWALTHAM, MAFiscal year ends DecemberBook value per share $0.34Diluted shares 48.6M

Werewolf Therapeutics, Inc. (Nasdaq: HOWL) is a biopharmaceutical company developing conditionally activated immune therapies for cancer and other immune-mediated conditions. Its proprietary PREDATOR platform is designed to keep therapeutic molecules inactive in circulation and activate them in the tumor… From the company’s description.

Over the twelve months to Jun 30, 2026, Werewolf Therapeutics, Inc. reported revenue of $21.00M and a net loss of $34.61M. Its operating margin was −148.8%, and operations used $30.15M in cash. In fiscal 2025, it reported a net loss of $60.82M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$0.00MFY2025
−100.0% year over year
Last 12 mo $21.00M
0.00%FY2025
Last 12 mo -148.84%
$-60.82MFY2025
+13.7% year over year
Last 12 mo $-34.61M
-245.20%FY2025
−149.1 percentage points
Last 12 mo -212.45%
Cash & financing
$-60.29MFY2025
−7.3% year over year
Last 12 mo $-30.15M
$-60.29MFY2025
−6.8% year over year
Last 12 mo $-30.15M
1.14FY2025
Was 0.36× a year earlier
Last 12 mo 0.00
46.8MFY2025
+6.7% year over year
Last 12 mo 48.6M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Werewolf Therapeutics, Inc. does

In the company’s own words

Werewolf Therapeutics, Inc. (Nasdaq: HOWL) is a biopharmaceutical company developing conditionally activated immune therapies for cancer and other immune-mediated conditions. Its proprietary PREDATOR platform is designed to keep therapeutic molecules inactive in circulation and activate them in the tumor microenvironment. The pipeline includes INDUKINE cytokine candidates WTX-124 (IL-2) and WTX-330 (IL-12), which are in clinical development, and preclinical candidates targeting IL-21, IL-18 and IL-10. Its INDUCER program uses the platform to develop T-cell engagers, including preclinical candidates targeting STEAP1 and CDH6. The company’s lead candidates are intended for patients with advanced or metastatic tumors; WTX-921 is being developed for inflammatory bowel disease and potentially other inflammatory diseases. Werewolf has licensed global development and commercialization rights to its IFNα INDUKINE, JZP898, to Jazz Pharmaceuticals. In February 2026, it adopted a restructuring plan and began exploring strategic alternatives for its platform and pipeline.

Company details
Sector
Health Care
Industry (SIC)
Pharmaceutical Preparations
Headquarters
WALTHAM, MA
Fiscal year end
December
CIK
1785530
SIC
2834

Financial performance, year by year

Fiscal 2021–2025 · USD
$-79.67M$-52.21M$-24.76M$2.70M$30.15M20212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Werewolf Therapeutics, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

8
funds hold it
0 of 35
superinvestors hold it
$0.59M
held by funds, at market
3.2%
of shares held by funds

Largest fund holders · Werewolf Therapeutics, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Extended Market Index Fund
FSMAX · Fidelity Concord Street Trust
—of fund net assets
Fidelity Total Market Index Fund
FSKAX · Fidelity Concord Street Trust
—of fund net assets
Fidelity Series Total Market Index Fund
FCFMX · Fidelity Concord Street Trust
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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