On March 26, 2025 Whitehawk Therapeutics, Inc. (Nasdaq: WHWK), an oncology therapeutics company applying advanced technologies to established tumor biology to efficiently deliver improved cancer treatments, reported the successful closing of the divestiture of Aadi Subsidiary, Inc. ("Aadi Sub") to Kaken Pharmaceuticals ("Kaken") for a cash payment of $100 million plus certain customary adjustments, completing the strategic transformation first announced in December 2024 (Press release, Whitehawk Therapeutics, MAR 26, 2025, View Source [SID1234651482]). Kaken assumes ownership of Aadi Sub, including the Aadi Bioscience name, trademarks and the FYARRO (sirolimus protein-bound particles for injectable suspension) (albumin-bound) business.

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Whitehawk expects to use the proceeds from the divestiture, as well as from the recent $100M PIPE financing, to develop its portfolio of antibody drug conjugates (ADCs), as well as for general corporate and working capital purposes. Cash is expected to fund operations into 2028, enabling anticipated key clinical data readouts for the three assets.