13D Filings
WEREWOLF THERAPEUTICS, INC.
HOWL
Amendment
Ownership

15.00%

Total Shares

6,746,807

Issuer CIK

1785530

CUSIP

95075A107

Event Date

May 11, 2025

Accepted

May 14, 2025, 06:09 PM

Reporting Persons (4)
Joint Filing

This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.

NameType% of ClassAggregateSole VotingShared Voting
RA Capital Management, L.P.
Investment Adviser
15.00%6,746,80706,746,807
Peter Kolchinsky
Holding Company
15.00%6,746,80706,746,807
Rajeev Shah
Holding Company
15.00%6,746,80706,746,807
RA Capital Healthcare Fund, L.P.
Partnership
13.90%6,237,48206,237,482
Disclosure Items (5)

Security Title

Common Stock, $0.0001 par value per share

Issuer Name

WEREWOLF THERAPEUTICS, INC.

Issuer Address

200 TALCOTT AVENUE, WATERTOWN, MA, 02472

Filing Persons

This Amendment No. 6 is being filed on behalf of RA Capital Management, L.P. ("RA Capital"), Peter Kolchinsky, Rajeev Shah, and RA Capital Healthcare Fund, L.P. (the "Fund"), who are collectively referred to herein as the "Reporting Persons." The agreement among the Reporting Persons to file this 13D/A jointly in accordance with Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended (the "Act"), is attached hereto as Exhibit 99.1. The Reporting Persons' ownership of the Issuer's securities includes (i) 6,237,482 shares of common stock held directly by the Fund; (ii) 443,825 shares of common stock held by RA Capital Nexus Fund II, L.P. (the "Nexus Fund II"); and (iii) a total of 48,000 shares underlying vested stock options (right to buy), and 17,500 shares underlying stock options (right to buy) which shall vest within 60 days of this filing held by Dr. Derek DiRocco for the benefit of RA Capital. RA Capital Healthcare Fund GP, LLC is the general partner of the Fund and RA Capital Nexus Fund II GP, LLC is the general partner of the Nexus Fund II. The general partner of RA Capital is RA Capital Management GP, LLC, of which Dr. Kolchinsky and Mr. Shah are the controlling persons. RA Capital serves as investment adviser for the Fund and the Nexus Fund II and may be deemed a beneficial owner, for purposes of Section 13(d) of the Securities Exchange Act of 1934 (the "Act"), of any securities of the Issuer held by the Fund or the Nexus Fund II. The Fund and the Nexus Fund II have delegated to RA Capital the sole power to vote and the sole power to dispose of all securities held in the Fund's and the Nexus Fund II's portfolio, including the shares of the Issuer's common stock reported herein. Because the Fund and the Nexus Fund II have divested themselves of voting and investment power over the reported securities they hold and may not revoke that delegation on less than 61 days' notice, the Fund and the Nexus Fund II disclaim beneficial ownership of the securities they hold for purposes of Section 13(d) of the Act and therefore disclaim any obligation to report ownership of the reported securities under Section 13(d) of the Act. As managers of RA Capital, Dr. Kolchinsky and Mr. Shah may be deemed beneficial owners, for purposes of Section 13(d) of the Act, of any securities of the Issuer beneficially owned by RA Capital. RA Capital, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of the securities reported in this Schedule 13D/A other than for the purpose of determining their obligations under Section 13(d) of the Act, and the filing of this Schedule 13D/A shall not be deemed an admission that either RA Capital, Dr. Kolchinsky, or Mr. Shah is the beneficial owner of such securities for any other purpose.

Business Address

The address of the principal business office of each of the Reporting Persons is 200 Berkeley Street, 18th Floor, Boston, MA 02116.

Principal Occupation

The Fund is a private investment vehicle. RA Capital provides investment management services to the Fund and the Nexus Fund II. The principal occupation of Dr. Kolchinsky and Mr. Shah is investment management.

Convictions

During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Citizenship

See Item 6 of the cover pages.

Item 3 of the Statement is hereby amended and supplemented as follows: On May 12, 2025, the Fund purchased 320,913 shares of common stock in open market transactions at prices ranging from $0.82 to $0.89 per share (a weighted-average price of $0.86 per share). On May 13, 2025, the Fund purchased 52,974 shares of common stock in open market transactions at prices ranging from $0.96 to $0.99 per share (a weighted-average price of $0.98 per share). On May 14, 2025, the Fund purchased 162,539 shares of common stock in open market transactions at prices ranging from $0.96 to $0.99 per share (a weighted-average price of $0.98 per share). All purchases of the securities described herein were for cash and were funded by working capital of the Fund.

Percentage of Class

Rows 11 and 13 of each Reporting Person's cover page to this Schedule 13D/A set forth the aggregate number of shares of common stock and percentages of the shares of common stock beneficially owned by such Reporting Person and are incorporated by reference. The percentage set forth in each row 13 is based upon 44,873,646 shares of common stock outstanding as of May 2, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on May 8, 2025, and giving effect to stock options, to the extent exercisable within 60 days hereof, as referenced herein.

Number of Shares

Rows 7 through 10 of each Reporting Person's cover page to this Schedule 13D/A set forth the number of shares of common stock as to which such Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition and are incorporated by reference.

Transactions

Except as set forth below, none of the Reporting Persons has effected any transactions with respect to the securities of the Issuer during the past sixty days: No. Price Per Transaction Purchaser Date Shares Share Vest Stock Option (Right to Buy) RA Capital 05/24/2025 17,500 (1)(2) (1) This option represents a right to purchase a total of 17,500 shares of the Issuer's common stock, which vests in full on May 24, 2025. These options have an exercise price of $4.88. (2) Represents future vesting options within 60 days from the filing date of this Amendment No. 6.

Shareholders

Except as set forth below, none of the Reporting Persons has effected any transactions with respect to the securities of the Issuer since the most recent amendment to this Schedule 13D/A.

Date of 5% Ownership

Not applicable.

Exhibit 99.1 Joint Filing Agreement

WEREWOLF THERAPEUTICS, INC. — Schedule 13D | 13D Filings