Traws Pharma, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 15, 2025. The company's cash, cash equivalents, and short-term investments were approximately $15.9 million as of March 31, 2025, with a projected cash runway extending into Q1 2026.
The company reported net income of $21.5 million for Q1 2025, or $2.17 per basic common share, primarily driven by a $26.5 million non-cash change in the fair value of warrant liability associated with the December 2024 financing. This contrasts with a net loss of $5.0 million for Q1 2024. Revenue for the quarter was $57 thousand, comparable to $56 thousand in Q1 2024.
Research and development expenses increased to $2.5 million in Q1 2025 from $1.9 million in Q1 2024, mainly due to increased virology program costs. General and administrative expenses decreased to $2.8 million from $3.4 million in the prior year. The company also announced that Iain D. Dukes was named Interim CEO, and Jack Stover was appointed Chairman of the Board on April 15, 2025. A briefing document for tivoxavir marboxil was submitted to the FDA on April 24, 2025, to discuss accelerated approval pathways.
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