<SEC-DOCUMENT>0001134657-25-000012.txt : 20251125
<SEC-HEADER>0001134657-25-000012.hdr.sgml : 20251125
<ACCEPTANCE-DATETIME>20251125180525
ACCESSION NUMBER:		0001134657-25-000012
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251121
FILED AS OF DATE:		20251125
DATE AS OF CHANGE:		20251125

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EVNIN LUKE
		CENTRAL INDEX KEY:			0001134657
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40366
		FILM NUMBER:		251523001

	MAIL ADDRESS:	
		STREET 1:		399 BOYLSTON STREET
		STREET 2:		SUITE 1100
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Werewolf Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001785530
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				823523180
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		200 TALCOTT AVENUE
		STREET 2:		2ND FLOOR
		CITY:			WATERTOWN
		STATE:			MA
		ZIP:			02472
		BUSINESS PHONE:		617-952-0555

	MAIL ADDRESS:	
		STREET 1:		200 TALCOTT AVENUE
		STREET 2:		2ND FLOOR
		CITY:			WATERTOWN
		STATE:			MA
		ZIP:			02472
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-11252025_111121.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-11-21</periodOfReport>

    <issuer>
        <issuerCik>0001785530</issuerCik>
        <issuerName>Werewolf Therapeutics, Inc.</issuerName>
        <issuerTradingSymbol>HOWL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001134657</rptOwnerCik>
            <rptOwnerName>EVNIN LUKE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MPM BIOIMPACT LLC</rptOwnerStreet1>
            <rptOwnerStreet2>399 BOYLSTON STREET, SUITE 1100</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>1</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>41287</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.83</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3371840</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>56992</value>
                    <footnoteId id="F6"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.98</value>
                    <footnoteId id="F7"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3314848</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F8"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-11-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>27297</value>
                    <footnoteId id="F9"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.92</value>
                    <footnoteId id="F10"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3287551</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes</value>
                    <footnoteId id="F4"/>
                    <footnoteId id="F11"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Transaction effected pursuant to a plan established pursuant to Rule 10b5-1 dated September 24, 2025.</footnote>
        <footnote id="F2">The shares were sold as follows: 4,417 by MPM Asset Management LLC (&quot;AM LLC&quot;), 27,904 by MPM BioVentures 2014, L.P. (&quot;BV 2014&quot;), 1,861 by MPM BioVentures 2014(B), L.P. (&quot;BV 2014(B)&quot;), 960 by MPM Asset Management Investors BV2014 LLC (&quot;AM
BV2014&quot;) and 6,145 by MPM Oncology Innovations Fund, L.P. (&quot;MPM OIF&quot;).</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.80 to $0.8861 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the
Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F4">MPM BioVentures 2014 GP LLC and MPM BioVentures 2014 LLC (&quot;BV LLC&quot;) are the direct and indirect general partners of BV 2014 and BV 2014(B). BV LLC is the manager of AM
BV2014. MPM Oncology Innovations Fund GP LLC (&quot;MPM OIF GP&quot;) is the general partner of MPM OIF. Luke Evnin is a member of AM LLC, a Managing Director of BV LLC and a manager of MPM OIF GP. The Reporting Person disclaims beneficial ownership of the
securities except to the extent of his pecuniary interest therein.</footnote>
        <footnote id="F5">The shares are held as follows: 361,062 by AM LLC, 2,280,166 by BV 2014, 152,083 by BV 2014(B), 78,482 by AM BV2014 and 500,047 by MPM OIF.</footnote>
        <footnote id="F6">The shares were sold as follows: 6,097 by AM LLC, 38,518 by BV 2014, 2,569 by BV 2014(B), 1,325 by AM BV2014 and 8,483 by MPM OIF.</footnote>
        <footnote id="F7">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.8733 to $1.03 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the
Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F8">The shares are held as follows: 354,965 by AM LLC, 2,241,648 by BV 2014, 149,514 by BV 2014(B), 77,157 by AM BV2014 and 491,564 by MPM OIF.</footnote>
        <footnote id="F9">The shares were sold as follows: 2,920 by AM LLC, 18,449 by BV 2014, 1,230 by BV 2014(B), 635 by AM BV2014 and 4,063 by MPM OIF.</footnote>
        <footnote id="F10">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.90 to $0.99 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the
Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F11">The shares are held as follows: 352,045 by AM LLC, 2,223,199 by BV 2014, 148,284 by BV 2014(B), 76,522 by AM BV2014 and 487,501 by MPM OIF.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Luke Evnin</signatureName>
        <signatureDate>2025-11-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
