Home / Going-concern warnings / Werewolf Therapeutics, Inc.
Filed 2026-03-27 路 Form 10-K 路 Accession 0001785530-26-000006 nano
Price before filing: $0.8631 (2026-03-26 close, split/dividend-adjusted)
Market cap at flag: $37.9M (2026-03-27) 路 Latest: $47.6M (2026-10-16)
| Window | HOWL | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -3.8% | +10.9% | -14.7% | 2026-04-27 |
| 90 days | -61.3% | +14.1% | -75.4% | 2026-06-25 |
| 180 days | +14.6% | +19.6% | -5.0% | 2026-09-23 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $297K (14 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-29 | EVNIN LUKE Director | Sale | 108,606 | $0.61 | $66K | yes | Form 4 |
| 2025-12-30 | EVNIN LUKE Director | Sale | 34,847 | $0.61 | $21K | yes | Form 4 |
| 2025-12-31 | EVNIN LUKE Director | Sale | 24,962 | $0.62 | $15K | yes | Form 4 |
| 2026-01-02 | EVNIN LUKE Director | Sale | 18,568 | $0.63 | $12K | yes | Form 4 |
| 2026-01-05 | EVNIN LUKE Director | Sale | 18,378 | $0.64 | $12K | yes | Form 4 |
| 2026-01-06 | EVNIN LUKE Director | Sale | 40,761 | $0.65 | $26K | yes | Form 4 |
| 2026-01-07 | EVNIN LUKE Director | Sale | 11,915 | $0.64 | $8K | yes | Form 4 |
| 2026-01-08 | EVNIN LUKE Director | Sale | 7,716 | $0.63 | $5K | yes | Form 4 |
| 2026-01-09 | EVNIN LUKE Director | Sale | 24,678 | $0.61 | $15K | yes | Form 4 |
| 2026-01-12 | EVNIN LUKE Director | Sale | 58,980 | $0.57 | $34K | yes | Form 4 |
| 2026-01-13 | EVNIN LUKE Director | Sale | 43,198 | $0.55 | $24K | yes | Form 4 |
| 2026-01-14 | EVNIN LUKE Director | Sale | 30,616 | $0.57 | $17K | yes | Form 4 |
| 2026-01-15 | EVNIN LUKE Director | Sale | 37,413 | $0.55 | $21K | yes | Form 4 |
| 2026-01-16 | EVNIN LUKE Director | Sale | 38,782 | $0.54 | $21K | yes | Form 4 |
| 2026-03-27: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-27 to 2026-04-26. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As discussed in Note 2 to the financial statements, the Company has suffered recurring losses from operations, has limited financial resources, and has stated that substantial doubt exists about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: Ernst & Young LLP
Source: independent auditor report in Form 10-K (period 2025-12-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
🔔 Get email alerts for this company
Not investment advice. Automated summary; verify against the filing.
The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.
Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.
Form not showing? Subscribe on beehiiv →
Newsletter delivered by beehiiv. See our privacy policy.