Traws Pharma, Inc.

Snapshot

Traws is a clinical-stage biotech with no meaningful revenue and a going-concern warning from its own filings: just $3.1M in cash against a business burning roughly $20.8M a year in free cash flow.

What's Happening Right Now

• Wed 9th Sep '26 · Going concern: The Q2 2026 10-Q disclosed substantial doubt about continuing as a going concern, with $5.0M cash against a $650.1M accumulated deficit, plus an FDA clinical hold on lead drug tivoxavir marboxil and a UK MHRA deferral of its planned trial.
• Wed 9th Sep '26 · Earnings: Q2 2026 revenue fell to zero from $2.7M a year earlier, net loss widened to $3.0M, and management said cash plus planned ATM sales fund operations only into Q1 2027 without more financing.
• Thu 27th Aug '26 · Delisting notice: Nasdaq notified Traws it is out of compliance with the $1.00 minimum bid price rule, giving the company until January 25, 2027 to regain compliance or face delisting risk.
• Sun 12th Jul '26 · ATM offering: Traws filed a prospectus supplement to sell up to $5.6M of stock via an at-the-market program, again flagging going-concern doubt with cash sufficient only into Q1 2027.
• Fri 10th Jul '26 · Shareholder vote: At the July 8, 2026 annual meeting, shareholders approved Series B and C warrant tranches from the April 2026 financing and increased incentive plan shares by 2,000,000.
• Thu 9th Jul '26 · Registration: Registered $139.19M of securities for sale on Form S-3.
• Tue 30th Jun '26 · ATM sale: Sold $2.02M of stock / 1.19M shares through its at-the-market program.
• Fri 8th May '26 · Registration: Registered additional securities for sale on Form S-3.