Werewolf Therapeutics, Inc. (Form: 4, Received: 11/25/2025 18:05:10)

FORM 4 ☐ Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). ☒ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* MPM BioVentures 2014, L.P.	2. Issuer Name and Ticker or Trading Symbol Werewolf Therapeutics, Inc. [ HOWL ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle) C/O MPM BIOIMPACT LLC, 399 BOYLSTON STREET, SUITE 1100	3. Date of Earliest Transaction (MM/DD/YYYY) 11/21/2025
(Street) BOSTON, MA 02116	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person
(City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/21/2025		S⁽¹⁾		64,331 ⁽²⁾	D	$0.83 ⁽³⁾	5,257,105	I	See Footnotes ⁽⁴⁾⁽⁵⁾
Common Stock	11/24/2025		S⁽¹⁾		88,802 ⁽⁶⁾	D	$0.98 ⁽⁷⁾	5,168,303	I	See Footnotes ⁽⁴⁾⁽⁸⁾
Common Stock	11/25/2025		S⁽¹⁾		42,533 ⁽⁹⁾	D	$0.92 ⁽¹⁰⁾	5,125,770	I	See Footnotes ⁽⁴⁾⁽¹¹⁾

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:
(1)	Transaction effected pursuant to a plan established pursuant to Rule 10b5-1 dated September 24, 2025.
(2)	The shares were sold as follows: 4,417 by MPM Asset Management LLC ("AM LLC"), 27,904 by MPM BioVentures 2014, L.P. ("BV 2014"), 1,861 by MPM BioVentures 2014(B), L.P. ("BV 2014(B)"), 960 by MPM Asset Management Investors BV2014 LLC ("AM BV2014"), 6,145 by MPM Oncology Innovations Fund, L.P. ("MPM OIF") and 23,044 by UBS Oncology Impact Fund L.P. ("UBS Oncology").
(3)	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.
(4)	MPM BioVentures 2014 GP LLC and MPM BioVentures 2014 LLC ("BV LLC") 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 ("MPM OIF GP") is the general partner of MPM OIF. MPM BioImpact LLC ("BioImpact") is the General Partner of Oncology Impact Fund (Cayman) Management L.P., the General Partner of UBS Oncology. Ansbert Gadicke is a member of AM LLC, a managing director of BV LLC, a manager of MPM OIF GP and the managing partner of BioImpact. Each Reporting Person disclaims beneficial ownership of the securities except to the extent of his or its pecuniary interest therein.
(5)	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, 500,047 by MPM OIF and 1,885,265 by UBS Oncology.
(6)	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, 8,483 by MPM OIF and 31,810 by UBS Oncology.
(7)	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.
(8)	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, 491,564 by MPM OIF and 1,853,455 by UBS Oncology.
(9)	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, 4,063 by MPM OIF and 15,236 by UBS Oncology.
(10)	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.
(11)	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, 487,501 by MPM OIF and 1,838,219 by UBS Oncology.

Remarks:
This filing is 1 of 2 identical filings due to limitations on number of Reporting Persons. See Form 4 filed by Ansbert Gadicke.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MPM BioVentures 2014, L.P. C/O MPM BIOIMPACT LLC 399 BOYLSTON STREET, SUITE 1100 BOSTON, MA 02116		X
MPM BioVentures 2014 (B), L.P. C/O MPM BIOIMPACT 399 BOYLSTON STREET, SUITE 1100 BOSTON, MA 02116		X
MPM BioVentures 2014 LLC C/O MPM BIOIMPACT LLC 399 BOYLSTON STREET, SUITE 1100 BOSTON, MA 02116		X
MPM BioVentures 2014 GP LLC C/O MPM BIOIMPACT LLC 399 BOYLSTON STREET, SUITE 1100 BOSTON, MA 02116		X
MPM Asset Management Investors BV2014 LLC C/O MPM BIOIMPACT LLC 399 BOYLSTON STREET, SUITE 1100 BOSTON, MA 02116		X

Signatures
/s/ Ansbert Gadicke, Managing Director of MPM BioVentures 2014 LLC, the manager of MPM Asset Management Investors BV2014 LLC		11/25/2025
^**Signature of Reporting Person		Date
/s/ Ansbert Gadicke, Managing Director of MPM BioVentures 2014 LLC, the Managing Member of MPM BioVentures 2014 GP LLC, the GP of MPM BioVentures 2014 (B), L.P.		11/25/2025
^**Signature of Reporting Person		Date
/s/ Ansbert Gadicke, Managing Director of MPM BioVentures 2014 LLC, the Managing Member of MPM BioVentures 2014 GP LLC, the GP of MPM BioVentures 2014, L.P.		11/25/2025
^**Signature of Reporting Person		Date
/s/ Ansbert Gadicke, Managing Director of MPM BioVentures 2014 LLC, the Managing Member of MPM BioVentures 2014 GP LLC		11/25/2025
^**Signature of Reporting Person		Date
/s/ Ansbert Gadicke, Managing Director of MPM BioVentures 2014 LLC		11/25/2025
^**Signature of Reporting Person		Date

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