Traws Pharma, Inc. reported its unaudited financial results for the third quarter ended September 30, 2024, on November 14, 2024. The company's cash, cash equivalents, and short-term investments stood at approximately $5.4 million as of September 30, 2024, a decrease from $20.8 million at December 31, 2023.
Research and development (R&D) expenses for Q3 2024 totaled $5.1 million, an increase from $2.5 million in the comparable period of 2023, primarily due to the initiation and completion of the Phase 1 study for TRX100. General and administrative (G&A) expenses also increased to $3.5 million from $2.7 million in Q3 2023, mainly due to professional and consulting fees.
The net loss for the third quarter of 2024 was $8.5 million, or $8.81 per basic and diluted common share, compared to a net loss of $4.7 million, or $5.64 per basic and diluted common share, for the same period in 2023. The company also noted that its shares outstanding, 3,025,554 as of November 11, 2024, reflected a 25:1 reverse split effective September 20, 2024.
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