As someone who is taking writing courses and has pitched before I can say this: Projects with werewolves SUCK to get sponsored.
1. The person you are pitching to has a clear idea of what he wants a werewolf to do and if you want the money you better not stray from that, otherwise you risk not getting sponsored.
2. You pitch something and already need specialty props like Animatronics or expensive CGI... you don't usually get that with smaller projects, unless you are pitching to Blumhouse, but they are still new players. And if you want to feature that wolf prominently they probably won't provide you with enough budget as they can fund 3 other movies for the price of werewolf CGI or Animatronics. So if oyu want a big project there are to many cooks involved, if you want a small project you are lacking funds for a lot of things you want to do. My god are transformation sequences expensive, even big budget movies skip on that part.
3. Writing a new story with werewolves is difficult because so many versions have been written of that concept, just not necessarily with Wolves. Why do we pit wolves and vampires so often against each other? As a concept they are very similar, with the difference that one has control, the other doesn't. As much as I hate to use twilight as an example, writing wise both parties have control and it doesn't matter if Bella joins Edward or Jacob as far as the supernatural aspect is concerned.
4. Your werewolf movie probably sucks. The werewolf doesn't have much to work with which is why usually in werewolf movies the focus is away from the wolves. The Howling is about an Interview, Ginger Snaps is about the dynamic between the two sisters, Wolf Soldiers is esentially a Zombie movie with terrible Audio mixing etc. etc. If you want to make him more interesting, go back to step 1 or market towards the twilight crowd.
