NEWTOWN, PA — Traws Pharma, Inc. (Nasdaq: TRAW) secured up to $60 million in new financing and outlined plans to begin a human influenza challenge trial for its lead antiviral candidate this quarter, as the company works to advance its respiratory virus pipeline despite an ongoing FDA clinical hold.
The clinical-stage biopharmaceutical company is developing tivoxavir marboxil, or TXM, as a once-monthly prophylactic treatment for seasonal influenza and is also expanding into hantavirus antiviral development following recent outbreaks that renewed attention on the disease.
“The recently announced private financing of up to $60 million in gross proceeds provides us with a clear runway into Q1 2027,” Chief Executive Officer Iain Dukes stated.
Traws announced the financing on April 15 through a private investment in public equity transaction that included $10 million in upfront gross proceeds and up to approximately $50 million tied to milestone-based and long-term warrants.
The company indicated existing cash combined with financing proceeds is expected to fund operations through the first quarter of 2027, including completion of a planned influenza human challenge study.
TXM is being evaluated as a potential once-monthly influenza prevention therapy that could also have applications in pandemic preparedness programs.
Traws is currently conducting a Phase 1 bridging study in Australia to evaluate whether its compressed tablet formulation can provide 28 days of antiviral coverage.
Following completion of that study and anticipated approval from the U.K.’s Medicines and Healthcare products Regulatory Agency, the company plans to initiate a single-dose influenza challenge trial through hVIVO in the United Kingdom.
At the same time, Traws continues efforts to resolve a clinical hold placed on the U.S. investigational new drug application for TXM.
The FDA halted the program over concerns tied to the therapy’s toxicology package, according to the company.
“We will be actively engaging with the FDA to resolve the clinical hold and enable initiation of global studies by year end,” Dukes noted.
Separately, Traws disclosed plans to rapidly advance development of a hantavirus treatment candidate. Hantavirus infections can carry fatality rates between 30% and 50% when transmitted to humans, according to the company.
For the quarter ended March 31, Traws reported cash and cash equivalents of approximately $3.1 million, compared with $3.8 million at the end of 2025, excluding financing proceeds completed after quarter end.
Research and development expenses increased to $4.9 million from $2.5 million a year earlier, reflecting higher antiviral clinical trial costs.
General and administrative expenses declined to $2.0 million from $2.8 million, primarily because of lower consulting and professional fees.
Traws reported a net loss of $7.1 million, or $0.53 per share, compared with net income of $21.5 million, or $2.17 per basic share, in the prior-year quarter. The earlier profit was largely driven by warrant liability accounting adjustments.
The company reported 15.2 million shares outstanding as of May 12, 2026.
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