Traws Pharma Reports Q3 Financials and Updates on Clinical Advances

Traws Pharma

NEWTOWN, PATraws 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.

READ:  Five Below Reports Strong Q3 Results and Names New CEO

Traws continues to push forward with its clinical developments, aiming to deliver innovative treatments that address significant unmet needs in viral infections.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.