Harpoon Therapeutics (HARP)
Harpoon Therapeutics is a clinical-stage immunotherapy company focused on developing T cell engagers to treat cancer. Their TriTAC platform is designed to harness the body's immune system to target and eliminate tumors.
Company Overview
Harpoon Therapeutics is pioneering a novel class of T cell engagers with its TriTAC platform, offering a differentiated approach to cancer immunotherapy and positioning the company to capitalize on the growing demand for targeted cancer therapies with a current market cap of $0.87 billion.
Investment Thesis
Harpoon Therapeutics presents a compelling investment opportunity due to its innovative TriTAC platform and promising clinical pipeline. The company's lead product candidates, including HPN328, HPN217, and HPN536, are in Phase I/II clinical trials, demonstrating initial safety and efficacy signals. The collaboration with AbbVie Biotechnology Ltd. validates the potential of the TriTAC platform and provides financial resources for further development. With a gross margin of 90.3%, Harpoon has the potential for significant profitability upon commercialization of its products. The current market cap of $0.87 billion may undervalue the long-term potential of the company's pipeline and technology. Upcoming clinical trial results and potential partnerships could serve as catalysts for stock appreciation.
Key Highlights
- Market Cap of $0.87 billion reflects investor valuation of Harpoon's pipeline and technology.
- Gross Margin of 90.3% indicates strong potential profitability upon commercialization.
- Phase I/II clinical trials underway for HPN328, HPN217, and HPN536, demonstrating progress in clinical development.
- Collaboration with AbbVie Biotechnology Ltd. validates the TriTAC platform and provides financial support.
- Beta of 1.55 suggests higher volatility compared to the overall market.
Competitors
Strengths
- Innovative TriTAC platform technology.
- Promising clinical pipeline with multiple product candidates.
- Strategic collaboration with AbbVie Biotechnology Ltd.
- High gross margin potential (90.3%).
Weaknesses
- Clinical-stage company with no approved products.
- High operating expenses due to research and development costs.
- Negative profit margin (-210.4%).
- Reliance on clinical trial success for future growth.
Catalysts
- Upcoming: Clinical trial results for HPN328 in small cell lung cancer.
- Upcoming: Clinical trial results for HPN217 in multiple myeloma.
- Upcoming: Clinical trial results for HPN536 in ovarian and pancreatic cancer.
- Ongoing: Advancement of HPN601 into clinical trials.
- Ongoing: Potential for new strategic partnerships and collaborations.
Risks
- Potential: Clinical trial failures could significantly impact the company's value.
- Potential: Competition from larger pharmaceutical companies with more resources.
- Potential: Regulatory delays or rejections could delay or prevent product approvals.
- Ongoing: High cash burn rate due to ongoing research and development activities.
- Ongoing: Dependence on key personnel and scientific expertise.
Growth Opportunities
- Expansion of TriTAC Platform: Harpoon can expand its TriTAC platform to target additional cancer types beyond its current pipeline. This involves identifying new tumor-associated antigens and engineering TriTAC molecules to specifically target those antigens. The market for targeted cancer therapies is substantial, with significant unmet needs in various solid tumors and hematological malignancies. Success in this area could lead to new product candidates and partnerships, driving long-term growth.
- Advancement of Clinical Pipeline: Progressing its lead product candidates (HPN328, HPN217, HPN536) through clinical trials is a key growth driver. Positive clinical data could lead to regulatory approvals and commercialization, generating substantial revenue. Each of these product candidates targets a significant cancer market, including small cell lung cancer, multiple myeloma, and ovarian/pancreatic cancer. The timeline for this growth driver depends on the successful completion of clinical trials and regulatory review.
- Strategic Partnerships and Collaborations: Forming additional partnerships with pharmaceutical companies can provide financial resources and expertise to accelerate the development and commercialization of Harpoon's products. The collaboration with AbbVie Biotechnology Ltd. serves as a model for future partnerships. These collaborations can also expand the reach of Harpoon's technology to new markets and indications. The timing of these partnerships is uncertain but represents a significant growth opportunity.
- Development of HPN601: Advancing HPN601, its preclinical stage product, into clinical trials represents a significant growth opportunity. HPN601 targets multiple solid tumor indications, potentially expanding Harpoon's addressable market. Successful development of HPN601 could lead to a new wave of clinical trials and potential regulatory approvals. The timeline for this growth driver depends on preclinical data and regulatory filings.
- Geographic Expansion: Expanding its operations beyond the United States can unlock new markets and revenue streams. This involves conducting clinical trials in other countries and establishing commercial partnerships in key regions. The global market for cancer therapies is substantial, with significant opportunities in Europe, Asia, and other regions. The timeline for this growth driver depends on regulatory approvals and market access in different countries.
Opportunities
- Expansion of TriTAC platform to new cancer targets.
- Advancement of clinical pipeline through regulatory approvals.
- Formation of additional strategic partnerships.
- Geographic expansion into new markets.
Threats
- Clinical trial failures.
- Competition from other immunotherapy companies.
- Regulatory hurdles and delays.
- Patent challenges and intellectual property disputes.
Competitive Advantages
- Proprietary TriTAC platform for T cell engager therapy.
- Strong intellectual property portfolio protecting its technology.
- Clinical-stage pipeline with promising early results.
- Strategic collaboration with AbbVie Biotechnology Ltd.
About
Harpoon Therapeutics, incorporated in 2015 and headquartered in South San Francisco, California, is a clinical-stage immunotherapy company dedicated to developing innovative cancer treatments. The company's core technology is the Tri-specific T cell activating construct (TriTAC) platform, which engineers T cells to target and destroy cancer cells. This approach aims to harness the body's own immune system to fight cancer, offering a potentially more effective and less toxic alternative to traditional therapies. Harpoon's lead product candidates include HPN328, currently in Phase I/II clinical trials for small cell lung cancer and other Delta-like canonical Notch ligand 3-expressing tumors; HPN217, also in Phase I/II clinical trials for multiple myeloma; and HPN536, in Phase I/IIa clinical trials targeting ovarian and pancreatic cancer, as well as other mesothelin-expressing tumors. Additionally, HPN601 is in the preclinical stage for multiple solid tumor indications. The company has a strategic discovery collaboration and license agreement with AbbVie Biotechnology Ltd., leveraging the TriTAC platform and soluble T cell receptors to develop and commercialize new therapies. With a focus on innovative immunotherapy, Harpoon Therapeutics is striving to make a significant impact on cancer treatment.
What They Do
- Develop tri-specific T cell activating construct (TriTAC) product candidates.
- Engineer T cells to target and destroy cancer cells.
- Conduct Phase I/II clinical trials for HPN328 to treat small cell lung cancer.
- Conduct Phase I/II clinical trials for HPN217 to treat multiple myeloma.
- Conduct Phase I/IIa clinical trials for HPN536 to treat ovarian and pancreatic cancer.
- Develop HPN601 for the treatment of multiple solid tumor indications in preclinical stage.
- Collaborate with AbbVie Biotechnology Ltd. to develop and commercialize products using the TriTAC platform.
Business Model
- Develop and out-license novel T-cell engager therapies.
- Generate revenue through collaboration agreements with pharmaceutical companies.
- Potentially generate revenue through direct sales of approved therapies in the future.
- Focus on developing and patenting innovative cancer immunotherapies.
Industry Context
Harpoon Therapeutics operates in the rapidly evolving biotechnology industry, specifically within the cancer immunotherapy market. This market is characterized by intense competition and a high degree of innovation, with companies like ALBO, ASLN, CBIO, CDMO, and CMRX also developing novel cancer therapies. The demand for more effective and less toxic cancer treatments is driving significant investment and growth in the immunotherapy sector. Harpoon's TriTAC platform positions it to compete effectively by offering a unique approach to T cell engager therapy. The overall oncology market is projected to reach hundreds of billions of dollars in the coming years, providing a substantial opportunity for companies with innovative technologies.
Key Customers
- Pharmaceutical companies seeking innovative cancer therapies.
- Patients suffering from cancer who may benefit from Harpoon's therapies.
- Healthcare providers who prescribe and administer cancer treatments.
Financials
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2023 | $4M | -$2M | $-0.46 |
| Q2 2023 | $20M | $1M | $0.28 |
| Q1 2023 | $9M | -$12M | $-3.26 |
| Q4 2022 | $4M | -$18M | $-5.37 |
Source: Company filings
Chart & Info
Price Chart
Harpoon Therapeutics (HARP) stock price: $23.00 (+0.02, +0.09%)
Why Bull
- •Harpoon's recent insider buying suggests those in the know see long-term value, similar to when insiders loaded up on Apple before major product launches. The social buzz around their novel cancer therapies is growing, indicating increased investor interest. Bullish community chatter highlights the potential of their TriTAC platform, a sentiment reminiscent of early enthusiasm for CRISPR technology. Market perception seems to be shifting positively as Harpoon presents at key industry conferences, potentially signaling future partnerships.
- •Harpoon's recent insider buying suggests those in the know see long-term value, similar to when insiders loaded up on Apple before major product launches.
- •The social buzz around their novel cancer therapies is growing, indicating increased investor interest.
- •Bullish community chatter highlights the potential of their TriTAC platform, a sentiment reminiscent of early enthusiasm for CRISPR technology.
Why Bear
- •Despite the hype, clinical trial outcomes are always uncertain, and Harpoon is no exception; remember the initial excitement around certain Alzheimer's drugs that ultimately disappointed. Community sentiment also reveals concerns about competition in the immunotherapy space, a crowded field akin to the electric vehicle market. Some investors are wary of Harpoon's cash burn rate, drawing parallels to biotech firms that struggled to secure funding during the 2008 financial crisis. Market perception could quickly sour if upcoming data doesn't meet expectations, a risk amplified in the volatile biotech sector.
- •Despite the hype, clinical trial outcomes are always uncertain, and Harpoon is no exception; remember the initial excitement around certain Alzheimer's drugs that ultimately disappointed.
- •Community sentiment also reveals concerns about competition in the immunotherapy space, a crowded field akin to the electric vehicle market.
- •Some investors are wary of Harpoon's cash burn rate, drawing parallels to biotech firms that struggled to secure funding during the 2008 financial crisis.
Latest News
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US GDP growth falls sharply to 1.4% rate in fourth quarter
International homepage · Feb 20, 2026
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Morgan Stanley issues sharp take on the stock market
TheStreet · Feb 20, 2026
Technical Analysis
Rationale
AI-generated technical analysis for HARP including trend direction, momentum, and pattern recognition.
What to Watch
Key support and resistance levels, volume signals, and upcoming events.
Risk Management
Position sizing, stop-loss levels, and risk-reward assessment.
Community
Discussion
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Sentiment
Community sentiment and discussion activity for HARP.
Make a Prediction
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Current price: $23.00
Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for HARP.
Price Targets
Wall Street price target analysis for HARP.
Insider Flow (30d)
No insider trades in the last 30 days.
MoonshotScore
Score Factors
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Revenue Growth 6/100
Revenue increased 34.9% YoY, reflecting moderate but steady business growth.
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Gross Margin 10/100
Gross margin of 90.3% shows excellent pricing power and a strong competitive moat.
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Operating Leverage 6/100
Revenue growth is driving operating leverage, meaning profits can grow faster than costs.
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Cash Runway 6/100
Adequate cash of $52M covers near-term needs but may require additional funding for aggressive expansion.
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R&D Intensity 10/100
Investing 255.0% of revenue in R&D signals heavy commitment to innovation and future product pipeline.
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Insider Activity 6/100
No significant insider buying or selling recently, which is neutral for the stock outlook.
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Short Interest 5/100
Float and volume data unavailable for liquidity analysis.
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Price Momentum 0/100
No bullish technical signals detected. The stock lacks upward price momentum currently.
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News Sentiment 5/100
No sentiment data available
What does this score mean?
The MoonshotScore rates HARP's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Competitors & Peers
Frequently Asked Questions
What does Harpoon Therapeutics, Inc. do?
Harpoon Therapeutics is a clinical-stage biotechnology company focused on developing novel cancer immunotherapies based on its proprietary TriTAC platform. The TriTAC platform engineers T cells to target and destroy cancer cells, offering a potentially more effective and less toxic alternative to traditional cancer treatments. The company's pipeline includes product candidates targeting various cancers, including small cell lung cancer, multiple myeloma, and ovarian/pancreatic cancer. Harpoon's goal is to develop and commercialize innovative immunotherapies that improve outcomes for patients with cancer.
Is HARP stock a good buy?
HARP stock presents a high-risk, high-reward investment opportunity. The company's innovative TriTAC platform and promising clinical pipeline offer significant potential for growth. However, as a clinical-stage company, Harpoon faces significant risks related to clinical trial outcomes and regulatory approvals. The company's negative profit margin (-210.4%) and reliance on future funding are also important considerations. Investors should carefully weigh the potential upside against the inherent risks before investing in HARP stock. Positive clinical trial data could significantly increase the stock price, while negative data could have the opposite effect.
What are the main risks for HARP?
The main risks for Harpoon Therapeutics include clinical trial failures, competition from other immunotherapy companies, regulatory hurdles, and financial risks. Clinical trial failures could significantly impact the company's value and delay or prevent product approvals. Competition from larger pharmaceutical companies with more resources could limit Harpoon's market share. Regulatory delays or rejections could also delay or prevent product approvals. The company's high cash burn rate and reliance on future funding pose financial risks. Additionally, patent challenges and intellectual property disputes could threaten the company's competitive advantage.
Is HARP a good stock to buy?
Whether HARP is a good investment depends on your financial goals, risk tolerance, and investment horizon. Key factors to evaluate include the company's revenue growth trajectory, profit margins, debt-to-equity ratio, competitive moat, and valuation multiples (P/E, P/S, EV/EBITDA) relative to industry peers. Our AI-generated Investment Thesis and SWOT analysis on this page provide a data-driven starting point. Always do your own research and consider consulting a financial advisor before making investment decisions.
What is the HARP MoonshotScore?
The MoonshotScore for HARP is an AI-powered rating from 0 to 100 that evaluates a stock across four dimensions: growth potential (revenue and earnings trajectory), financial health (balance sheet strength, cash flow), market momentum (price trends, volume patterns, institutional flows), and risk factors (volatility, debt levels, sector headwinds). Scores above 70 indicate strong potential, 50-70 moderate, and below 50 suggests caution. The score is recalculated daily using the latest financial data and market signals.
How often is HARP data updated?
HARP stock prices are updated in real-time during U.S. market hours (9:30 AM - 4:00 PM ET, Monday through Friday). After-hours and pre-market prices are also tracked. Company fundamentals (earnings, revenue, balance sheet) are refreshed when new quarterly or annual reports are filed. Analyst ratings, price targets, and AI-generated insights are updated daily. Breaking news related to HARP is aggregated continuously from premium financial news sources throughout the day.
What are the growth catalysts for HARP?
Growth catalysts for Harpoon Therapeutics (HARP) can include several categories: product catalysts (new launches, FDA approvals, patent grants), financial catalysts (earnings beats, margin expansion, share buybacks), strategic catalysts (acquisitions, partnerships, market expansion into new regions), and macro catalysts (favorable regulation, industry tailwinds, secular growth trends). Our AI analyzes Harpoon Therapeutics's specific catalysts using earnings transcripts, SEC filings, and news sentiment to identify the most impactful near-term and long-term drivers.
Who are HARP's main competitors?
Harpoon Therapeutics (HARP) competes with companies in its industry that target similar customers, markets, or product categories. Competitor analysis involves comparing key metrics: market share, revenue growth rates, profit margins, R&D spending, and valuation multiples. Understanding competitive positioning helps investors assess whether HARP has a sustainable competitive advantage (moat) through brand strength, network effects, cost leadership, or switching costs. Our Competitors section provides a side-by-side comparison with relevant peers.
What do analysts say about HARP?
Wall Street analyst coverage for HARP includes consensus ratings (buy, hold, or sell), 12-month price targets, and earnings estimates. Analyst opinions are aggregated from major investment banks and research firms. Key metrics to watch include the consensus price target (average, high, and low estimates), the number of analysts covering the stock, any recent rating changes (upgrades or downgrades), and how actual earnings compare to analyst estimates (beat or miss history). Our platform aggregates these from multiple data providers for a comprehensive view.
What is HARP's market cap?
Market capitalization (market cap) for HARP is calculated by multiplying the current share price by the total number of outstanding shares. It represents the market's total valuation of the company. Stocks are typically categorized as mega-cap ($200B+), large-cap ($10B-$200B), mid-cap ($2B-$10B), small-cap ($300M-$2B), or micro-cap (under $300M). Market cap influences index inclusion, institutional ownership eligibility, and risk profile. Our Key Statistics section shows HARP's current market cap alongside enterprise value and other valuation metrics.
How has HARP stock performed recently?
HARP's recent stock performance can be evaluated across multiple timeframes: daily price changes, week-over-week momentum, monthly trends, and year-to-date returns. Important performance indicators include the stock's 52-week high and low, moving averages (50-day and 200-day SMA), relative strength index (RSI), and volume trends. Comparing HARP's performance against its sector index and the S&P 500 provides context on whether it is outperforming or underperforming the broader market.
What are the risks of investing in HARP?
Key risk categories for HARP include: market risk (overall market downturns affecting stock prices), company-specific risk (management changes, product failures, competitive threats), financial risk (high debt levels, cash burn, dilution from stock issuance), regulatory risk (government policy changes, lawsuits, compliance issues), and macroeconomic risk (interest rate changes, inflation, currency fluctuations). Beta measures HARP's volatility relative to the market - a beta above 1.0 means higher volatility than the S&P 500. Our AI-generated risk assessment identifies the most relevant risk factors for this specific stock.
Are insiders buying or selling HARP?
Insider trading activity for HARP tracks purchases and sales by company executives, directors, and major shareholders (10%+ owners) as reported in SEC Form 4 filings. Insider buying is generally considered a bullish signal because insiders have the deepest knowledge of company operations, while selling may have various motivations (diversification, tax planning, pre-planned 10b5-1 trading plans). Key metrics include the buy-to-sell ratio, total dollar value of insider transactions, and whether multiple insiders are trading in the same direction. Our Insider Flow tab shows recent transactions with dates and dollar amounts.
Is HARP a good stock for beginners?
Harpoon Therapeutics (HARP) can be suitable for beginner investors depending on several factors. Look at the MoonshotScore on this page for an overall AI-powered assessment of growth potential and risk. Beginners should also check the company's market cap (larger companies tend to be less volatile), gross margin (higher margins mean stronger business fundamentals), and cash position (healthy cash reduces bankruptcy risk). Always start with a small position size and never invest money you cannot afford to lose.
How risky is HARP for first-time investors?
Every stock carries risk, including Harpoon Therapeutics (HARP). First-time investors should review the Risk Factors section on this page for company-specific risks. Key risk indicators include price volatility (check the chart for daily swings), insider selling activity (see Insider Flow tab), and cash runway (see MoonshotScore breakdown). A diversified portfolio with an index fund like the S&P 500 as a core holding is generally recommended before adding individual stocks like HARP.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- Stock data pending update.