---
schema_version: "secwatch.filing_event.v1"
accession: "0001785530-26-000005"
form_type: "8-K"
ticker: "HOWL"
cik: "0001785530"
company_name: "Werewolf Therapeutics, Inc."
filed_at: "2026-03-27T23:59:59+00:00"
generated_at: "2026-05-15T08:40:17.517477+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Werewolf Therapeutics announces strategic alternatives review; Q4 2025 net loss $8.4M

## Summary
- Engaged Piper Sandler as exclusive financial advisor to explore strategic alternatives including sale, merger, or asset sale.
- Cash and equivalents of $57.1M as of Dec 31, 2025; expected to fund operations into Q4 2026.
- Q4 2025 net loss $8.4M vs $20.4M in Q4 2024; R&D expenses $6.9M vs $15.7M.
- Full year 2025 net loss $60.8M vs $70.5M; R&D expenses $44.8M vs $56.4M.

## SEC filing metadata
- accession: 0001785530-26-000005
- form_type: 8-K
- ticker: HOWL
- cik: 0001785530
- company_name: Werewolf Therapeutics, Inc.
- filed_at: 2026-03-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1785530/000178553026000005/0001785530-26-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1785530/000178553026000005/howl-20260327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001785530-26-000005
- JSON: https://secwatch.observer/filing/0001785530-26-000005.json
- Plain text: https://secwatch.observer/filing/0001785530-26-000005.txt

## Key facts
- Earnings Releases
  Werewolf Therapeutics, Inc. reported full year ended December 31, 2025 results: net income Net loss was $60.8 million.
  - Period: full year ended December 31, 2025
  - Net income: Net loss was $60.8 million
  - Result: reported results
  source text: Net loss was $60.8 million for the full year 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/1785530/000178553026000005/0001785530-26-000005-index.htm
- Earnings Releases
  Werewolf Therapeutics, Inc. reported quarter ended December 31, 2025 results: net income Net loss was $8.4 million.
  - Period: quarter ended December 31, 2025
  - Net income: Net loss was $8.4 million
  - Result: reported results
  source text: Net loss was $8.4 million for the fourth quarter of 2025
  evidence_url: https://www.sec.gov/Archives/edgar/data/1785530/000178553026000005/0001785530-26-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.