Werewolf Therapeutics, Inc.
HOWL evidence brief
What we can confirm
- BioSniper Score:
- 5.5 / 10
- Market Cap:
- $45.2M
- Lead Asset:
- wtx-1011 (Preclinical)
What it means
What to watch
Prepared research question
What matters most for HOWL—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · HOWL
Werewolf Therapeutics, Inc. (HOWL) is a biopharmaceutical company developing conditionally activated therapeutics (INDUKINE molecules and INDUCER T-cell engagers) for cancer and immune-mediated diseases, with a pipeline spanning preclinical to Phase 2 and a pending merger with Ambros Therapeutics.
Key risk: Early-stage pipeline
BioSniper Score
Based on 4 of 6 signals
Market Cap
$45.2M
Cash Runway
—
Lead Asset
wtx-1011 (Preclinical)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 5 pipeline candidates for Werewolf Therapeutics, Inc..
Werewolf Therapeutics, Inc. (HOWL) is a biopharmaceutical company developing conditionally activated therapeutics (INDUKINE molecules and INDUCER T-cell engagers) for cancer and immune-mediated diseases, with a pipeline spanning preclinical to Phase 2 and a pending merger with Ambros Therapeutics.
- Cash & equivalents of $22.0M as of 2026-06-30 [sec].
- Net income of $3.7M and shareholders' equity of $16.3M as of 2026-06-30 [sec].
- Lead programs WTX-124 (Phase 1, IL-2 INDUKINE) and WTX-330 (Phase 1/2, IL-12 INDUKINE) are being evaluated in advanced solid tumors [pipeline].
- Announced a merger agreement with Ambros Therapeutics in August 2026, concurrent with a $150M private placement, to create a late-stage company focused on neridronate for CRPS-1 [news · 2026-08-21].
- WTX-330 advanced to a Phase 1b/2 expansion study starting 2025-05-07 [catalyst].
What works
- The company has a differentiated platform of conditionally activated cytokines (INDUKINEs) and T-cell engagers (INDUCERs) that may enable localized immune stimulation with reduced systemic toxicity [news · 2025-12-18].
- WTX-330 has advanced to a Phase 1b/2 expansion study, indicating clinical progress beyond initial dose escalation [catalyst].
- The proposed merger with Ambros Therapeutics brings a pivotal Phase 3 asset (neridronate) with FDA Breakthrough Therapy, Fast Track, and Orphan Drug designations, potentially de-risking the combined pipeline [news · 2026-08-21].
- The company reported positive net income ($3.7M) as of 2026-06-30, suggesting improved financial performance [sec].
What to weigh
- The company's two most advanced proprietary programs (WTX-124 and WTX-330) are still in early clinical stages (Phase 1/Phase 1b/2) and face significant development risk [pipeline].
- The company is seeking strategic partnerships for WTX-124 and WTX-330, indicating it may lack internal resources to fully develop these assets independently [news · 2025-12-18].
- The merger with Ambros Therapeutics introduces integration risk and shifts focus to an asset (neridronate) outside Werewolf's core cytokine platform [news · 2026-08-21].
- Preclinical candidates (WTX-2022, WTX-1011) are in highly competitive landscapes with many Phase 2/3 competitors [pipeline].
From the filings
Quoted directly from source documents.
Merger agreement and $150M private placement
“Werewolf Therapeutics and Ambros Therapeutics Announce Merger Agreement and Concurrent Oversubscribed $150 Million Private Placement”
News · August 21, 2026
WTX-330 Phase 1b/2 start date
“Phase2_Start: Phase2_Start: A Phase 1b/2 Multisite Dose- and Regimen-finding and Expansion Study of WTX-330”
Catalysts · May 7, 2025
Catalyst timeline
- 2022-08-15 · Phase 1 start for WTX-124 — First-in-human dose escalation and expansion study of WTX-124 as monotherapy and with pembrolizumab in advanced solid tumors.
- 2022-12-06 · Phase 1 start for WTX-330 — First-in-human dose escalation study of WTX-330 in advanced solid tumors or lymphoma.
- 2025-05-07 · Phase 2 start for WTX-330 — Phase 1b/2 dose- and regimen-finding and expansion study of WTX-330 in advanced solid tumors or non-Hodgkin lymphoma.
Risks & what to watch (4)›
Key risks
- Early-stage pipeline — Lead proprietary programs WTX-124 and WTX-330 are in Phase 1/Phase 1b/2, with no approved products [pipeline].
- Merger integration risk — Pending merger with Ambros Therapeutics introduces operational and strategic integration challenges [news · 2026-08-21].
- Dependence on partnerships — Company actively seeking strategic partners for WTX-124 and WTX-330, indicating potential resource gaps [news · 2025-12-18].
- Competitive preclinical assets — Preclinical candidates face crowded competitive landscapes with many Phase 2/3 competitors [pipeline].
What to watch
- Outcome of the merger with Ambros Therapeutics and the $150M private placement [news · 2026-08-21].
- Data readouts from the WTX-330 Phase 1b/2 expansion study (started 2025-05-07) [catalyst].
- Progress of the WTX-124 Phase 1 monotherapy and combination trial with pembrolizumab [catalyst].
- FDA guidance and potential pivotal trial design for neridronate in CRPS-1 [news · 2026-08-21].
Sources: Catalysts · News · Pipeline · Generated October 10, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.48 · 0% dilution
Lead: Phase 1
5 candidates
No upcoming catalysts tracked
0 buys · 52 sells (180d)
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
48
Total value held
$11.6M
| Holder | Shares | Value |
|---|---|---|
| ra capital management, l.p. | 6,681,307 | $5.6M |
| vanguard capital management llc | 1,217,976 | $1.0M |
| mpm bioimpact llc | 1,208,810 | $1.0M |
| lynx1 capital management lp | 657,786 | $548K |
| sphera funds management ltd. | 626,810 | $522K |
| dc funds, lp | 589,102 | $490K |
| squadron capital management llc | 563,535 | $469K |
| renaissance technologies llc | 516,218 | $430K |
| geode capital management, llc | 389,487 | $324K |
| bank of america corp /de/ | 264,583 | $220K |
Showing top 10 of 48 institutional holders of Werewolf Therapeutics, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 21, 2026- % of float
- 3.4%
- Days to cover
- 3.9
- Shares short
- 1,383,049
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
HOWL short interestFrequently asked questions
What is the AI investment thesis for Werewolf Therapeutics, Inc.?
Werewolf Therapeutics, Inc. (HOWL) is a biopharmaceutical company developing conditionally activated therapeutics (INDUKINE molecules and INDUCER T-cell engagers) for cancer and immune-mediated diseases, with a pipeline spanning preclinical to Phase 2 and a pending merger with Ambros Therapeutics.
What is Werewolf Therapeutics, Inc.'s lead drug candidate?
Werewolf Therapeutics, Inc.'s most advanced tracked candidate is wtx-1011 (Preclinical) for cancer.
Who is the CEO of Werewolf Therapeutics, Inc.?
Dr. Daniel J. Hicklin Ph.D. is the chief executive officer of Werewolf Therapeutics, Inc. (HOWL).
Where is Werewolf Therapeutics, Inc. headquartered?
Werewolf Therapeutics, Inc. (HOWL) is headquartered in Watertown, MA, United States.
What therapeutic areas does Werewolf Therapeutics, Inc. focus on?
Werewolf Therapeutics, Inc. develops therapies across Oncology, Immunology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.