Werewolf Therapeutics, Inc. (HOWL) Stock Plunged 10.92% Current-Market, Here’s Why

Werewolf Therapeutics, Inc. (HOWL) stock plummeted 10.92% in the current-market trading session at the price of $5.20 following a licensing deal with Jazz Pharmaceuticals.

HOWL is an advanced biopharmaceutical firm that develops therapeutics to boost immunity against cancerous cells. The company leverages its PREDATOR technology to develop activated molecules that stimulate innate and adaptive immunity.

Licensing Agreement with Jazz

On 7th April 2022, HOWL announced signing a licensing deal with Jazz Pharmaceuticals. As part of the collaboration agreement, Jazz has attained exclusive commercialization and development rights to HOWL’s WTX-613. As per the deal, Jazz will pay an upfront payment of US$15M to Werewolf. HOWL is qualified to acquire regulatory, commercial, and development milestone payments of roughly US$1.26M.

Jazz hopes to submit an IND application for WTX-613 to the food and drug administration by 2023. WTX-613 has the potential to reduce the toxicity related to systemic IFNα treatment that expands its clinical utility in destroying cancer cells. The efficacy of WTX-613 has based on convincing proof-of-concept results recently delivered at ASH. The differentiated and investigational WTX-613 is presently in its pre-clinical development.

Current Market Updates

The licensing deal highlights the company’s dedication to improving its pipeline to provide oncology treatments. This collaboration comes at an exciting time for the company and will support the clinical development of WTX-613. Moreover, the transaction will unlock more opportunities for the stock to grow into immuno-oncology. The company expects to file IND applications for its lead programs, WTX-330 and WTX-124 soon.

HOWL stock will keep on identifying and developing beneficial therapies and new combinations. The company hopes to deliver five more novel therapies by the end of 2025. The stock is pleased with the current clinical progress during its first year as a public company. The management predicts 2022 to be a pivotal year for the stock as it continues to advance the pipeline.

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