On May 13, 2026, Whitehawk Therapeutics, a clinical-stage oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved antibody drug conjugate cancer treatments, announced that it has entered into a securities purchase agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity (PIPE) financing that is expected to result in gross proceeds of approximately $87.5 million, before deducting placement agent fees and other private placement expenses. The PIPE financing includes participation from existing investors including Avoro Capital, QVT, Coastlands Capital, KVP Capital, ADAR1 Capital Management, Acuta Capital Partners, StemPoint Capital LP, Invus, as well as members of the company’s executive team. Wilson Sonsini Goodrich & Rosati advised Whitehawk on the transaction.

Whitehawk is selling an aggregate of 4,330,866 shares of its common stock at a purchase price of $3.92 per share, and pre-funded warrants to purchase 17,991,021 shares of common stock at a purchase price of $3.9199 per pre-funded warrant. The PIPE financing is expected to close on May 14, 2026, subject to the satisfaction of customary closing conditions. Whitehawk intends to use the net proceeds from the PIPE financing, together with its existing cash, cash equivalents, and marketable securities, for working capital and general corporate purposes, including advancing its ADC pipeline and related development activities.

The Wilson Sonsini team that advised Whitehawk on the transaction includes Dan Koeppen, Rob Wernli, Meg Moloney, Jennifer Fang, Bridget Balisy, Gabriele Forbes-Bennett, and Dante Matera.

For more information, please see Whitehawk’s news release.