Traws Pharma, Inc. announced on December 30, 2024, that it has entered into definitive agreements to raise up to $72.6 million in financing from leading healthcare institutional investors. The initial tranche of $20 million in gross proceeds is expected to close around December 31, 2024, through the issuance and sale of common stock and pre-paid warrants.
This initial $20 million tranche is projected to extend the company's cash runway into the first half of 2026. An additional $52.6 million could be raised upon the full exercise of non-prepaid warrants within 30 days of key data readouts, including Ferret Bird Flu Data, Non-Human Primate Bird Flu Data (both expected early-Q1 2025), and Phase 2A Data (expected-2H 2025).
The financing round saw participation from new and existing institutional investors, including Perceptive Advisors, OrbiMed, Alyeska, Torrey Pines, and Ikarian Capital. This capital infusion is intended to advance the development of tivoxavir marboxil for H5N1 bird flu towards approval, highlighting the meaningful potential of the drug candidate.
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