NEWTOWN, PA — Traws Pharma, Inc. (NASDAQ: TRAW) has shared its latest business updates and unaudited financial results for the third quarter ending September 30, 2024. The company is advancing its clinical pipeline, notably with promising Phase 1 data from its antiviral programs for COVID-19 and influenza.
CEO Werner Cautreels, PhD, expressed optimism about the company’s progress, noting, “Traws is making excellent progress with its clinical pipeline. Phase 1 data for each of the antiviral programs for COVID and influenza are particularly exciting.” Cautreels highlighted the potential of ratutrelvir as a monotherapy for COVID, which may reduce the likelihood of clinical rebound. Additionally, tivoxavir marboxil, an oral treatment for influenza, shows promise as a single-dose therapy, even in pandemic scenarios like avian flu.
Looking ahead, Traws plans to commence Phase 2 studies for both ratutrelvir and tivoxavir marboxil in 2025. These studies aim to explore their efficacy in community-acquired settings, potentially offering new, effective treatments for these widespread viruses.
Financially, Traws reported cash, cash equivalents, and short-term investments of approximately $5.4 million as of September 30, down from $20.8 million at the end of 2023. R&D expenses for the quarter reached $5.1 million, nearly doubling from the previous year, mainly due to the completion of Phase 1 studies for TRX100 in Australia. General and administrative expenses rose to $3.5 million, driven by increased professional fees related to strategic investor alternatives, despite a decrease in public company costs.
The company incurred a net loss of $8.5 million for the quarter, up from $4.7 million in the same period in 2023, reflecting ongoing investments in its clinical programs. As of November 11, 2024, Traws had 3,025,554 shares outstanding, post a 25:1 reverse split effective September 20.
Traws continues to push forward with its clinical developments, aiming to deliver innovative treatments that address significant unmet needs in viral infections.
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