Werewolf 2024 Q2 Earnings Deepened Losses Amid Sharp Revenue Drop

Werewolf (HOWL) reported its fiscal 2024 Q2 earnings on Aug 14th, 2025, revealing a sharp decline in revenue and a significant widening of its net loss. The results fell far below expectations, with no guidance adjustments provided, underscoring the company’s ongoing financial challenges.

Revenue
Werewolf’s total revenue plummeted by 85.9% to $1.14 million in 2024 Q2, a stark decline from $8.08 million in the same period last year. The company’s sole revenue contributor was its collaboration segment, which accounted for the full $1.14 million in total revenue. The absence of other revenue streams highlights the company’s current limited commercialization.

Earnings/Net Income
Werewolf’s net loss expanded significantly to $-17.25 million in 2024 Q2, reflecting a 238.3% increase compared to the $-5.10 million loss in 2023 Q2. On a per-share basis, the loss widened to $0.40 per share, a 185.7% increase from the $0.14 per share loss a year earlier. This marked deterioration in profitability signals a challenging operating environment for the company.

Price Action
During the latest trading day, the stock price of Werewolf declined by 3.65%. However, over the most recent full trading week, the stock posted a 11.86% gain. Month-to-date, the price edged up 0.76%, reflecting mixed short-term investor sentiment.

Post-Earnings Price Action Review
Investors who purchased Werewolf (HOWL) shares on the date of its earnings announcement and held for 30 days faced a significant loss. Over three years, the stock returned -58.2%, translating to an average annual loss of -19.4%. This performance underscores the risks associated with tactical buy-and-hold strategies following poor earnings reports.

CEO Commentary
Daniel J. Hicklin, Ph.D., President and Chief Executive Officer, emphasized the company’s progress in advancing its PREDATOR® platform and highlighted promising clinical data from WTX-124. He noted that the company is on track to provide an interim data readout in Q4 2025 from the Phase 1/1b trial of WTX-124 in melanoma and renal cell carcinoma. Plans to meet with the FDA later in 2025 to discuss registrational pathways were also outlined. Additionally, the CEO highlighted the launch of WTX-1011, a STEAP1-targeting INDUCER T-cell engager, which has shown preclinical evidence of reduced cytokine release and enhanced safety. He also mentioned plans to nominate an additional INDUCER molecule before year-end, reinforcing the company’s optimism about the pipeline’s potential.

Guidance
Werewolf expects to report interim data from the Phase 1/1b trial of WTX-124 in Q4 2025 and to engage with the FDA in the second half of 2025 to discuss potential registrational pathways. The company anticipates determining the dosing regimen for WTX-330 by the end of 2025. As of June 30, 2025, the company had $77.6 million in cash and equivalents, sufficient to fund operations into Q4 2026.

Additional News
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