Deep Value: cash covers more than 100% of the stock price

This company holds roughly $22M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Werewolf Therapeutics

HOWL

Biotechnology · Healthcare

Price

$0.87

+0.44 (+102.57%)

Market Cap

$42.4M

Exchange

NASDAQ Global Select

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+153.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 18.5M (2021) → 46.8M (2025)

Winston Score History

The full picture

Werewolf Therapeutics is a small biotech company that develops experimental cancer drugs. It focuses on a type of medicine called "conditionally activated" immunotherapies — treatments designed to switch on only inside tumors, rather than throughout the whole body. The goal is to make powerful cancer-fighting drugs safer by reducing side effects in healthy tissue.

The company earns no product revenue yet, as all of its drug candidates are in early-stage clinical trials. It is based in Cambridge, Massachusetts, and funds its research through partnerships with larger pharmaceutical companies and by raising money from investors. Like most early-stage biotechs, Werewolf has no approved products and spends significantly more than it earns, reflected in its deeply negative returns. The main risk is that its drug candidates could fail in clinical trials, which would threaten the company's ability to continue operating without raising additional capital.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

YoY Growth Rate

Revenue data limited

EPS Growth

+120.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$45M/ year

↓ Declining (-21% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

12.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$22M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

0.0%

Thin — 0.0% gross margin

Profit after running costs

Operating Margin

34.1%

Excellent — 34.1% operating margin

Return on the money invested

ROCE

-165.4%

Weak — -165.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-143.6%

Burning cash (-143.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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