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Traws Pharma Inc. (TRAW+3.50%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing a net loss of $166.5 million compared to a net loss of $18.9 million in the previous year. The increase in net loss is primarily attributed to a $117.5 million expense related to acquired in-process research and development following the merger with Trawsfynydd Therapeutics, Inc.
Research and development expenses increased to $12.8 million from $11.4 million, reflecting costs associated with the development of new virology programs acquired through the merger.
General and administrative expenses rose to $12.3 million from $9.1 million, driven by increased consulting fees related to strategic initiatives and higher stock-based compensation expenses.
The company reported $226,000 in revenue for both 2024 and 2023, derived from its collaboration with SymBio Pharmaceuticals Limited.
Cash and cash equivalents were $21.3 million as of December 31, 2024, with a working capital of $13.4 million. The company raised $34 million through financing activities during the year, including a private placement and a securities purchase agreement.
Traws Pharma acknowledges substantial doubt about its ability to continue as a going concern, citing the need for additional financing to support ongoing clinical trials and operations.
The company is exploring various funding options, including equity financings and strategic alliances, to address its financial needs.
The filing details the company's focus on developing novel therapies for respiratory viral diseases and cancer, with four clinical programs currently in progress: tivoxavir marboxil, ratutrelvir, narazaciclib, and rigosertib.
Traws Pharma's management emphasizes the importance of obtaining regulatory approval for its product candidates to achieve future revenue and profitability.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Traws Pharma Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.