Werewolf Therapeutics, Inc.

We are an innovative biopharmaceutical company pioneering the development of therapeutics engineered to stimulate the body's immune system for the treatment of cancer and other immune-mediated conditions. We leverage our proprietary PREDATOR platform to design conditionally activated molecules that stimulate both adaptive and innate immunity. Our molecules, referred to as INDUKINE and INDUCER molecules, are intended to activate selectively in the tumor microenvironment, or TME. Our most advanced product candidates, WTX-124 and WTX-330, are systemically delivered, conditionally activated Interleukin-2 (IL-2) and Interleukin-12 (IL-12), respectively, INDUKINE molecules for the treatment of multiple tumor types. We also utilize the PREDATOR platform know-how and expertise to develop conditionally activated immune cell engagers. Immune cell engagers, such as T cell engagers, are typically bispecific antibodies that redirect immune cells to cancer cells via engagement with tumor associated cell surface antigens, leading to immune cell mediated killing of the cancer cells. We have provided initial preclinical data for our proprietary INDUCER™ T cell engager molecules demonstrating that our PREDATOR masking technology silenced peripheral activity and prevented cytokine release. In February 2026, we adopted a restructuring plan and our board of directors approved a reduction in force, representing 64% of our workforce. We have engaged Piper Sandler & Co, or Piper Sandler, as exclusive financial advisor to assist in the strategic review process.