Werewolf Therapeutics (HOWL) Operating Expenses (2020 - 2026)
Werewolf Therapeutics (HOWL) posted quarterly Operating Expenses of $13.8 million for Q2 2026, down 21.09% year-over-year from $17.5 million in Q2 2025, and up 4.3% on a QoQ basis from $13.3 million in Q1 2026.
Werewolf Therapeutics (HOWL) Operating Expenses (2020 - 2026) Analysis & Trends
Werewolf Therapeutics has reported Operating Expenses for 7 years, with the latest figure at $13.8 million in Q2 2026.
- Operating Expenses for Q2 2026 came in at $13.8 million, down 21.09% year-over-year; the trailing twelve-month figure through Jun 2026 was $52.3 million (down 28.42% YoY), and the FY2025 annual result was $60.7 million, down 19.61% from the prior year.
- Operating Expenses grew to $13.8 million in Q2 2026, from $13.3 million in the prior quarter.
- Over five years, Operating Expenses peaked at $20.5 million in Q4 2022 and troughed at $9.4 million in Q4 2025.
- A 5-year average of $16.5 million and a median of $16.9 million in 2023 frame the typical range for Operating Expenses.
- The widest annual swing landed in 2022, when Operating Expenses jumped 106.2%; it then slumped 53.72% in 2025.
- A 5-year view of Operating Expenses shows it stood at $20.5 million in 2022, then declined by 29.32% to $14.5 million in 2023, then soared by 40.69% to $20.3 million in 2024, then slumped by 53.72% to $9.4 million in 2025, then surged by 46.97% to $13.8 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $13.8 million in Q2 2026, $13.3 million in Q1 2026, and $9.4 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 2.89 Bn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | 960.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 1.21 Bn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 1.06 Bn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | 427.03 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 541.02 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -784.57 Mn |
| 10 | Werewolf Therapeutics | 20.90 Mn | 20.90 Mn | - | 13.84 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 13.84 Mn |
| Mar 31, 2026 | 13.27 Mn |
| Dec 31, 2025 | 9.42 Mn |
| Sep 30, 2025 | 15.73 Mn |
| Jun 30, 2025 | 17.54 Mn |
| Mar 31, 2025 | 17.99 Mn |
| Dec 31, 2024 | 20.35 Mn |
| Sep 30, 2024 | 17.12 Mn |
| Jun 30, 2024 | 20.10 Mn |
| Mar 31, 2024 | 17.90 Mn |
| Dec 31, 2023 | 14.46 Mn |
| Sep 30, 2023 | 15.15 Mn |
| Jun 30, 2023 | 14.15 Mn |
| Mar 31, 2023 | 16.69 Mn |
| Dec 31, 2022 | 20.46 Mn |
| Sep 30, 2022 | 17.51 Mn |
| Jun 30, 2022 | 19.12 Mn |
| Mar 31, 2022 | 15.37 Mn |
| Dec 31, 2021 | 17.88 Mn |
| Sep 30, 2021 | 13.80 Mn |