Werewolf Therapeutics (HOWL) Balance Sheet: Assets & Liabilities

Werewolf Therapeutics (HOWL) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Werewolf Therapeutics reported total assets of $69.40M and total liabilities of $44.59M. Shareholders' equity was $24.80M, down 66.2% from $73.39M a year earlier. Total debt stood at $35.92M against $57.05M in cash and short-term investments, a net cash position of $21.13M. That puts debt-to-equity at 1.45, compared with 0.40 a year earlier.

Werewolf Therapeutics Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Werewolf Therapeutics, Inc. (HOWL) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Current Assets
Cash and Cash Equivalents	57.05	111.00	134.34	129.32	157.53	92.57	17.90
Cash & Short-Term Investments	57.05	111.00	134.34	129.32	157.53	92.57	17.90
Accounts Receivable	0.00	0.00	1.35	6.93	0.00	0.00	0.00
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Current Assets	1.54	2.07	2.68	3.96	3.54	0.34	0.17
Total Current Assets	58.59	113.07	138.37	140.20	161.07	92.91	18.06
Non-Current Assets
Property, Plant & Equipment (Net)	9.90	12.32	14.85	17.45	16.33	3.12	3.41
Long-Term Investments	0.90	1.22	21.02	1.21	0.00	0.00	0.00
Other Non-Current Assets	0.91	1.54	0.59	1.38	1.86	0.21	0.21
Total Non-Current Assets	10.81	13.86	36.46	20.05	18.18	3.48	3.62
Total Assets	69.40	126.93	174.83	160.25	179.25	96.40	21.68
Current Liabilities
Accounts Payable	0.75	3.04	1.34	1.22	2.04	1.02	0.63
Short-Term Debt	28.24	3.11	8.28	2.08	1.07	0.68	0.60
Current Portion of Long-Term Debt	28.24	-	6.67	-	-	-	-
Accrued Liabilities	5.41	6.97	5.23	14.15	8.77	3.49	-
Deferred Revenue	0.00	0.00	0.91	6.53	0.00	0.00	0.00
Other Current Liabilities	33.64	0.36	8.86	14.15	8.77	0.09	0.82
Total Current Liabilities	36.15	15.18	19.38	23.99	11.87	5.28	2.04
Non-Current Liabilities
Long-Term Debt	7.68	26.10	43.65	12.60	14.59	1.86	2.54
Other Non-Current Liabilities	0.76	2.83	0.43	1.32	0.00	0.03	7.32
Total Non-Current Liabilities	8.44	38.36	44.08	13.92	14.59	1.90	9.87
Total Liabilities	44.59	53.54	63.46	37.91	26.46	7.18	11.91
Stockholders' Equity
Common Stock	0.01	0.01	0.00	0.00	0.00	0.00	0.00
Retained Earnings	-475.41	-414.59	-344.07	-306.71	-252.90	-51.87	-24.41
Additional Paid-in Capital	500.21	487.97	455.44	429.04	405.68	0.00	0.10
Shares Outstanding	48.60	44.83	39.11	31.43	27.31	-	-
Total Stockholders' Equity	24.81	73.39	111.37	122.34	152.79	89.22	9.77
Total Liabilities & Equity	69.40	126.93	174.83	160.25	179.25	96.40	21.68

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Werewolf Therapeutics Balance Sheet

How much debt does Werewolf Therapeutics have?

Werewolf Therapeutics had total debt of $35.92M as of Dec 31, 2025, against $57.05M in cash and short-term investments. Its debt-to-equity ratio was 1.45. Total debt was $29.21M a year earlier.

What are Werewolf Therapeutics's total assets?

Werewolf Therapeutics reported total assets of $69.40M as of Dec 31, 2025, down 45.3% from $126.93M a year earlier. Total liabilities were $44.59M.

What is Werewolf Therapeutics's shareholders' equity?

Werewolf Therapeutics's shareholders' equity was $24.80M as of Dec 31, 2025, or about $0.51 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition