Whitehawk Therapeutics reports annual meeting results

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK), a pharmaceutical company with a market capitalization of $94 million, announced the outcomes of its annual stockholders’ meeting held on June 11, 2025. According to InvestingPro analysis, the company maintains strong financial health with an impressive current ratio of 18.95, indicating robust liquidity. The stock currently appears undervalued based on InvestingPro’s Fair Value assessment. The Morristown, NJ-based company reported that approximately 61% of the voting power of all issued and outstanding shares were present in person or by proxy at the meeting.

During the meeting, stockholders voted on three key proposals. The first proposal concerned the election of three Class II directors to serve on the company’s board until the 2028 annual meeting. Anupam Dalal, M.D., Mohammad Hirmand, M.D., and David Lennon, Ph.D. were elected with 18,532,860, 19,402,347, and 19,378,308 votes for, respectively. The number of withheld votes and broker non-votes were also reported for each candidate.

The second proposal was an advisory vote on the compensation of the named executive officers as detailed in the company’s proxy statement. The compensation was approved with 18,855,748 votes for, 4,692,033 against, and 14,168 abstentions, along with 5,128,059 broker non-votes.

The third and final proposal was the ratification of BDO USA, P.C. as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal passed with an overwhelming majority of 28,065,323 votes for, 524,039 against, and 100,646 abstentions. The company enters this new fiscal year with positive momentum, as InvestingPro data shows analysts anticipating 120% sales growth for FY2025.

In addition, the company announced a decrease in the authorized number of directors on the board from ten to nine, effective upon the opening of the polls for the election of Class II directors at the meeting.

This summary is based on the information provided in the company’s 8-K filing with the Securities and Exchange Commission. For deeper insights into WHWK’s financial health and growth prospects, including 10+ additional ProTips and comprehensive valuation metrics, explore the detailed Pro Research Report available on InvestingPro.

In other recent news, Whitehawk Therapeutics, Inc. has completed the sale of its subsidiary, Aadi Subsidiary, Inc., to KAKEN INVESTMENTS INC. for $102.4 million, following certain adjustments. This transaction is a part of Whitehawk’s strategic repositioning to streamline operations and focus on core business areas. The cash infusion from this divestiture, along with a $100 million private investment in public equity (PIPE) financing, is expected to support Whitehawk’s operations into 2028. Whitehawk plans to use these funds to advance its portfolio of antibody drug conjugates (ADCs), which are designed to address limitations of first-generation ADCs. The company is on track for IND-enabling studies and subsequent clinical trials for its ADC assets, in-licensed from WuXi Biologics (HK:2269). As part of the sale, KAKEN PHARMACEUTICAL CO., LTD, now owns the Aadi Bioscience name, trademarks, and the FYARRO® business. Whitehawk’s financial position and research plans are detailed in its SEC filings, including its Annual Report on Form 10-K. The company has acknowledged potential risks and uncertainties that could affect its business prospects, such as delays in clinical trials and the need for additional financing.

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