8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Mar 27, 2026·SEC
Material company update
Feb 24, 2026·SEC
Werewolf Therapeutics, Inc.(HOWL)Earnings, Financials & Key Ratios
HOWL•NASDAQ
Price updated Jun 19, 2026
AboutWerewolf Therapeutics, Inc., a biopharmaceutical company, develops therapeutics engineered to stimulate the body's immune system for the treatment of cancer. The company, through its proprietary PREDATOR platform, designs conditionally activated molecules that stimulate adaptive and innate immunity for addressing the limitations of conventional proinflammatory immune therapies. Its lead product candidates are WTX-124, a conditionally activated Interleukin-2 INDUKINE molecule for the treatment of advanced solid tumors; and WTX-330, a conditionally activated Interleukin-12 INDUKINE molecule for the treatment of relapsed or refractory advanced or metastatic solid tumors or lymphoma. The company is also developing WTX-613, a conditionally activated interferon alpha INDUKINE molecule for the treatment of solid tumors and hematologic malignancies. Werewolf Therapeutics, Inc. was incorporated in 2017 and is headquartered in Cambridge, Massachusetts.Show more
- Revenue$0-100.0%
- EBITDA-$59M+17.7%
- Net Income-$61M+13.7%
- EPS (Diluted)-1.33+18.4%
- ROE-123.88%-62.3%
HOWL Key Insights
Werewolf Therapeutics, Inc. (HOWL) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Trading at only 0.7x book value
✗Weaknesses
- ✗Profits declining 32.4% over 5 years
- ✗Weak Piotroski F-Score: 2/9
- ✗Weak momentum: RS Rating 3 (bottom 3%)
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Get notified when HOWL posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
HOWL Price & Volume
Werewolf Therapeutics, Inc. (HOWL) stock price & volume — 10-year historical chart
Loading chart...
HOWL Growth Metrics
Werewolf Therapeutics, Inc. (HOWL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-100%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM22.3%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM26.22%
Return on Capital
10 Years-47.61%
5 Years-48.45%
3 Years-55.52%
Last Year-83.69%
HOWL Peer Comparison
Werewolf Therapeutics, Inc. (HOWL) competitors in Oncology Therapeutics Developers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 NKTX | 204.62M | 2.86 | -2.03 | -30.9% | 0.24 | |||
 IMVT | 7.26B | 35.34 | -12.76 | -68.16% | 0.00 | |||
 AGEN | 124.93M | 3.00 | -882.35 | 10.37% | 52.16% | |||
 CLDX | 2.16B | 32.43 | -8.32 | -78.63% | -345.96% | -50.72% | 0.00 | |
 TGTX | 8.15B | 53.22 | 19.21 | 87.32% | 65.95% | 87.36% | 0.40 | |
 NVCR | 1.62B | 14.28 | -11.70 | 8.28% | -25.66% | -50.82% | 0.85 | |
 RCUS | 2.45B | 24.31 | -7.39 | -4.26% | -156.36% | -68.97% | 0.16 | |
 ALKS | 7.5B | 44.99 | 31.46 | -5.25% | 9.78% | 8.82% | 0.04 |
Compare HOWL vs Peers
Werewolf Therapeutics, Inc. (HOWL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
HOWL Income Statement
Werewolf Therapeutics, Inc. (HOWL) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 0 | 0 | 0 | 16.4M | 19.94M | 1.89M | 0 | 0 |
Revenue Growth % | - | - | - | - | 21.6% | -90.55% | -100% | -100% |
Cost of Goods Sold | 463K | 777K | 0 | 2.51M | 1.76M | 1.81M | 1.63M | 804K |
COGS % of Revenue | - | - | - | 15.3% | 8.85% | 96.23% | - | - |
Gross Profit | -463K▲ 0% | -777K▼ 67.8% | 0▲ 100.0% | 13.89M▲ 0% | 18.18M▲ 30.9% | 71K▼ 99.6% | -1.63M▼ 2401.4% | -804K▲ 0% |
Gross Margin % | - | - | - | 84.7% | 91.15% | 3.77% | - | - |
Gross Profit Growth % | - | -67.82% | 100% | - | 30.87% | -99.61% | -2401.41% | - |
Operating Expenses | 9.94M | 21.63M | 50.09M | 69.95M | 58.68M | 73.67M | 59.04M | 50.85M |
OpEx % of Revenue | - | - | - | 426.48% | 294.25% | 3907.96% | - | - |
Selling, General & Admin | 3.6M | 5.76M | 14.82M | 21.5M | 18.67M | 19.05M | 15.85M | 16.07M |
SG&A % of Revenue | - | - | - | 131.1% | 93.62% | 1010.34% | - | - |
Research & Development | 6.34M | 16.64M | 35.27M | 53.76M | 41.78M | 56.43M | 44.83M | 39.89M |
R&D % of Revenue | - | - | - | 327.79% | 209.48% | 2993.85% | - | - |
Other Operating Expenses | 0 | -777K | 0 | -5.32M | -1.76M | -1.81M | -1.63M | -1.41M |
Operating Income | -9.94M▲ 0% | -22.4M▼ 125.5% | -50.09M▼ 123.6% | -56.06M▼ 11.9% | -40.5M▲ 27.7% | -73.59M▼ 81.7% | -60.68M▲ 17.6% | -51.65M▲ 0% |
Operating Margin % | - | - | - | -341.78% | -203.09% | -3904.19% | - | - |
Operating Income Growth % | - | -125.48% | -123.56% | -11.92% | 27.75% | -81.7% | 17.55% | - |
EBITDA | -9.47M | -21.63M | -49.87M | -53.55M | -38.74M | -71.78M | -59.04M | -50.05M |
EBITDA Margin % | - | - | - | -326.48% | -194.25% | -3807.96% | - | - |
EBITDA Growth % | - | -128.3% | -130.6% | -7.37% | 27.65% | -85.29% | 17.74% | 31.11% |
D&A (Non-Cash Add-back) | 463K | 777K | 216K | 2.51M | 1.76M | 1.81M | 1.63M | 1.61M |
EBIT | -9.88M | -15.04M | -50.09M | -53.81M | -34.23M | -65.86M | -60.68M | -48.38M |
Net Interest Income | 0 | 101K | 104K | 1.91M | 4.28M | 2.02M | -2.17M | -2.83M |
Interest Income | 372K | 101K | 104K | 1.91M | 7.42M | 6.67M | 3.11M | 1.85M |
Interest Expense | 372K | 0 | 0 | 0 | 3.14M | 4.66M | 5.27M | 4.68M |
Other Income/Expense | -312K | 7.36M | 104K | 2.25M | 3.13M | 3.08M | -145K | -4.61M |
Pretax Income | -10.25M▲ 0% | -15.04M▼ 46.8% | -49.98M▼ 232.3% | -53.81M▼ 7.7% | -37.37M▲ 30.6% | -70.52M▼ 88.7% | -60.82M▲ 13.7% | -56.27M▲ 0% |
Pretax Margin % | - | - | - | -328.09% | -187.37% | -3740.85% | - | - |
Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Net Income | -10.99M▲ 0% | -14.94M▼ 35.9% | -49.98M▼ 234.6% | -53.81M▼ 7.7% | -37.37M▲ 30.6% | -70.52M▼ 88.7% | -60.82M▲ 13.7% | -56.27M▲ 0% |
Net Margin % | - | - | - | -328.09% | -187.37% | -3740.85% | - | - |
Net Income Growth % | - | -35.93% | -234.58% | -7.66% | 30.56% | -88.7% | 13.75% | 22.3% |
Net Income (Continuing) | -10.25M | -15.04M | -49.98M | -53.81M | -37.37M | -70.52M | -60.82M | -56.27M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -0.38▲ 0% | -0.98▼ 157.9% | -10.94▼ 1016.3% | -1.86▲ 83.0% | -1.05▲ 43.5% | -1.63▼ 55.2% | -1.33▲ 18.4% | -1.14▲ 0% |
EPS Growth % | - | -157.89% | -1016.33% | 83% | 43.55% | -55.24% | 18.4% | 26.22% |
EPS (Basic) | -0.38 | -0.98 | -10.94 | -1.86 | -1.05 | -1.63 | -1.32 | - |
Diluted Shares Outstanding | 28.66M | 28.66M | 18.45M | 28.86M | 35.65M | 43.86M | 46.81M | 49.39M |
Basic Shares Outstanding | 28.66M | 28.66M | 18.45M | 28.86M | 35.65M | 43.33M | 46.02M | 48.6M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - |
HOWL Balance Sheet
Werewolf Therapeutics, Inc. (HOWL) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Total Current Assets | 18.06M | 92.91M | 161.07M | 140.2M | 138.37M | 113.07M | 58.59M | 48.73M |
Cash & Short-Term Investments | 17.9M | 92.57M | 157.53M | 129.31M | 134.34M | 111M | 57.95M | 46.45M |
Cash Only | 17.9M | 92.57M | 157.53M | 129.31M | 134.34M | 111M | 57.95M | 46.45M |
Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts Receivable | 0 | 0 | 0 | 6.93M | 1.35M | 0 | 0 | 0 |
Days Sales Outstanding | - | - | - | 154.18 | 24.71 | - | - | - |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | - | - |
Other Current Assets | 75K | 0 | 100K | 3.96M | 2.68M | 2.07M | 635K | 2.28M |
Total Non-Current Assets | 3.62M | 3.48M | 18.18M | 20.05M | 36.46M | 13.86M | 10.81M | 9.29M |
Property, Plant & Equipment | 3.41M | 3.12M | 16.32M | 17.45M | 14.85M | 12.32M | 9.9M | 9.29M |
Fixed Asset Turnover | - | - | - | 0.94x | 1.34x | 0.15x | - | 0.00x |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Long-Term Investments | 0 | 0 | 0 | 1.21M | 21.02M | 1.22M | 901K | 0 |
Other Non-Current Assets | 208K | 362K | 1.86M | 1.38M | 594K | 320K | 5K | 0 |
Total Assets | 21.68M▲ 0% | 96.4M▲ 344.7% | 179.25M▲ 85.9% | 160.25M▼ 10.6% | 174.83M▲ 9.1% | 126.93M▼ 27.4% | 69.4M▼ 45.3% | 58.02M▲ 0% |
Asset Turnover | - | - | - | 0.10x | 0.11x | 0.01x | - | 0.00x |
Asset Growth % | - | 344.66% | 85.95% | -10.6% | 9.1% | -27.4% | -45.33% | -174.13% |
Total Current Liabilities | 2.04M | 5.28M | 11.87M | 23.99M | 19.38M | 15.18M | 36.15M | 38.52M |
Accounts Payable | 633K | 1.02M | 2.04M | 1.22M | 1.34M | 3.04M | 754K | 3.57M |
Days Payables Outstanding | 499.02 | 479.62 | - | 177.56 | 276.44 | 610.68 | 168.43 | 927.82 |
Short-Term Debt | 0 | 0 | 0 | 0 | 6.67M | 0 | 1.75M | 30.43M |
Deferred Revenue (Current) | 0 | 0 | 0 | 6.53M | 907K | 0 | 0 | 0 |
Other Current Liabilities | 0 | 94K | 163K | 11.02M | 3.63M | 10.59M | 33.64M | 4.33M |
Current Ratio | 8.84x | 17.58x | 13.56x | 5.84x | 7.14x | 7.45x | 1.62x | 1.27x |
Quick Ratio | 8.84x | 17.58x | 13.56x | 5.84x | 7.14x | 7.45x | 1.62x | 1.27x |
Cash Conversion Cycle | - | - | - | - | - | - | - | - |
Total Non-Current Liabilities | 9.87M | 1.9M | 14.59M | 13.92M | 44.08M | 38.36M | 8.44M | 7.3M |
Long-Term Debt | 0 | 0 | 0 | 0 | 32.66M | 26.09M | 0 | 0 |
Capital Lease Obligations | 2.54M | 1.86M | 14.59M | 12.6M | 10.99M | 9.44M | 7.68M | 31.63M |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 7.32M | 31K | 0 | 1.32M | 433K | 2.83M | 759K | 85K |
Total Liabilities | 11.91M | 7.18M | 26.46M | 37.91M | 63.46M | 53.54M | 44.59M | 45.82M |
Total Debt | 3.14M | 2.54M | 15.66M | 14.68M | 51.92M | 37.09M | 9.44M | 37.65M |
Net Debt | -14.76M | -90.03M | -141.87M | -114.63M | -82.42M | -73.91M | -48.52M | -8.8M |
Debt / Equity | 0.32x | 0.03x | 0.10x | 0.12x | 0.47x | 0.51x | 0.38x | 3.09x |
Debt / EBITDA | - | - | - | - | - | - | - | -0.75x |
Net Debt / EBITDA | - | - | - | - | - | - | - | 0.18x |
Interest Coverage | -26.55x | - | - | - | -10.90x | -14.14x | -11.50x | -10.33x |
Total Equity | 9.77M▲ 0% | 89.22M▲ 813.3% | 152.79M▲ 71.2% | 122.34M▼ 19.9% | 111.37M▼ 9.0% | 73.39M▼ 34.1% | 24.8M▼ 66.2% | 12.2M▲ 0% |
Equity Growth % | - | 813.29% | 71.25% | -19.93% | -8.96% | -34.1% | -66.2% | -271.91% |
Book Value per Share | 0.34 | 3.11 | 8.28 | 4.24 | 3.12 | 1.67 | 0.53 | 0.25 |
Total Shareholders' Equity | 9.77M | 89.22M | 152.79M | 122.34M | 111.37M | 73.39M | 24.8M | 12.2M |
Common Stock | 2K | 2K | 2K | 3K | 4K | 5K | 5K | 5K |
Retained Earnings | -24.41M | -51.87M | -252.9M | -306.7M | -344.07M | -414.59M | -475.41M | -488.94M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
HOWL Cash Flow Statement
Werewolf Therapeutics, Inc. (HOWL) cash flow — operating, investing & free cash flow history
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | -9.54M | -18.62M | -42.88M | -40.6M | -32.61M | -56.19M | -60.29M | -51.94M |
Operating CF Margin % | - | - | - | -247.52% | -163.53% | -2980.8% | - | - |
Operating CF Growth % | - | -95.18% | -130.22% | 5.32% | 19.67% | -72.29% | -7.3% | 38.14% |
Net Income | -10.25M | -15.04M | -49.98M | -53.81M | -37.37M | -70.52M | -60.82M | -56.27M |
Depreciation & Amortization | 25K | 150K | 216K | 1.1M | 1.76M | 1.81M | 1.63M | 1.61M |
Stock-Based Compensation | 559K | 632K | 4.09M | 7.4M | 8.01M | 8.83M | 6.25M | 3.01M |
Deferred Taxes | -117K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 950K | -6.29M | 519K | 2.17M | 878K | 1.16M | 856K | 1.45M |
Working Capital Changes | -711K | 1.92M | 2.28M | 2.54M | -5.89M | 2.53M | -8.21M | -1.73M |
Change in Receivables | 0 | 0 | 0 | -6.93M | 5.58M | 1.35M | 0 | 0 |
Change in Inventory | 0 | 0 | 0 | 6.93M | 0 | 0 | 0 | 0 |
Change in Payables | 116K | 0 | 1.01M | -883K | -4.33M | 3.46M | -7.5M | -1M |
Cash from Investing | -266K | -560K | -498K | -3.61M | -769K | -254K | 0 | 0 |
Capital Expenditures | -266K | -560K | -498K | -3.61M | -769K | -254K | 0 | 0 |
CapEx % of Revenue | - | - | - | 22.02% | 3.86% | 13.47% | - | - |
Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | - | - | - | - | - | - | - | - |
Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash from Financing | 21.91M | 93.86M | 109.43M | 15.91M | 58.43M | 13.08M | 6.03M | 6.03M |
Debt Issued (Net) | 0 | 0 | 0 | 0 | 40M | -10M | 0 | 0 |
Equity Issued (Net) | 22.1M | 0 | 111.6M | 15.74M | 18.33M | 23.58M | 6.03M | 2.75M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | -193K | 93.86M | -2.17M | 166K | 100K | -496K | 0 | 3.27M |
Net Change in Cash | 12.1M▲ 0% | 74.67M▲ 517.1% | 66.05M▼ 11.5% | -28.3M▼ 142.8% | 25.05M▲ 188.5% | -43.36M▼ 273.1% | -54.26M▼ 25.1% | -45.92M▲ 0% |
Free Cash Flow | -9.81M▲ 0% | -19.18M▼ 95.6% | -43.37M▼ 126.1% | -44.21M▼ 1.9% | -33.38M▲ 24.5% | -56.44M▼ 69.1% | -60.29M▼ 6.8% | -51.94M▲ 0% |
FCF Margin % | - | - | - | -269.54% | -167.38% | -2994.27% | - | - |
FCF Growth % | - | -95.6% | -126.09% | -1.92% | 24.49% | -69.08% | -6.82% | 13.41% |
FCF per Share | -0.34 | -0.67 | -2.35 | -1.53 | -0.94 | -1.29 | -1.29 | -1.05 |
FCF Conversion (FCF/Net Income) | 0.87x | 1.25x | 0.86x | 0.75x | 0.87x | 0.80x | 0.99x | 0.92x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 790K |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
HOWL Key Ratios
Werewolf Therapeutics, Inc. (HOWL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -30.18% | -41.31% | -39.12% | -31.98% | -76.33% | -123.88% | -208.23% |
Return on Invested Capital (ROIC) | - | -743.35% | -451.51% | -165.72% | -388.21% | - | -1402.82% |
Gross Margin | - | - | 84.7% | 91.15% | 3.77% | - | - |
Net Margin | - | - | -328.09% | -187.37% | -3740.85% | - | - |
Debt / Equity | 0.03x | 0.10x | 0.12x | 0.47x | 0.51x | 0.38x | 3.09x |
Interest Coverage | - | - | - | -10.90x | -14.14x | -11.50x | -10.33x |
FCF Conversion | 1.25x | 0.86x | 0.75x | 0.87x | 0.80x | 0.99x | 0.92x |
Revenue Growth | - | - | - | 21.6% | -90.55% | -100% | -100% |
Related:HOWL Dividend History·HOWL Revenue History·HOWL Price History·HOWL P/E History·HOWL Financial Ratios·HOWL Institutional Holders
HOWL SEC Filings & Documents
Werewolf Therapeutics, Inc. (HOWL) SEC filings — annual & quarterly reports (10-K, 10-Q)
HOWL Frequently Asked Questions
Werewolf Therapeutics, Inc. (HOWL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Werewolf Therapeutics, Inc. (HOWL) saw revenue decline by 100.0% over the past year.
Werewolf Therapeutics, Inc. (HOWL) reported a net loss of $56.3M for fiscal year 2025.
Dividend & Returns
Werewolf Therapeutics, Inc. (HOWL) has a return on equity (ROE) of -123.9%. Negative ROE indicates the company is unprofitable.
Werewolf Therapeutics, Inc. (HOWL) had negative free cash flow of $51.9M in fiscal year 2025, likely due to heavy capital investments.