Onconova Therapeutics(ONTX) - 2024 Q4 - Annual Results

Financial Performance - Traws Pharma reported a net loss of $166.5 million for the year ended December 31, 2024, compared to a net loss of $18.9 million for 2023, resulting in a net loss per share of $35.21[16] - Total revenue for 2024 remained unchanged at $226 million compared to 2023[28] - Operating expenses increased significantly to $142.6 million in 2024 from $20.5 million in 2023, primarily due to acquired in-process research and development costs of $117.5 million[28] - Net loss for 2024 was $166.5 million, a substantial increase from a net loss of $18.9 million in 2023[28] - Net loss attributable to common stockholders was $54.7 million, with a net loss per share of $35.21 for 2024[28] - Net loss attributable to Series C Preferred stockholders was $111.8 million, with a net loss per share of $14,085.00[28] - The company reported a loss from operations of $142.4 million in 2024, compared to a loss of $20.3 million in 2023[28] Cash and Investments - Cash, cash equivalents, and short-term investments as of December 31, 2024, were approximately $21.3 million, up from $20.8 million at the end of 2023, reflecting $20 million in gross proceeds from financing[13] Expenses - Research and development (R&D) expenses for 2024 totaled $12.8 million, an increase of $1.4 million from $11.4 million in 2023, primarily due to clinical and preclinical trials[14] - General and administrative (G&A) expenses rose to $12.3 million in 2024, up from $9.1 million in 2023, mainly due to increased consulting fees[15] - Other income decreased to $289,000 in 2024 from $1.35 million in 2023[28] Liabilities - The total liabilities of Traws Pharma increased significantly to $56.6 million as of December 31, 2024, compared to $12.0 million in 2023, largely due to warrant liabilities[26] Product Development - Traws Pharma's lead product candidate, tivoxavir marboxil, demonstrated robust antiviral activity in three validated flu models and positive Phase 1 pharmacokinetic results[3] - The company plans to provide an update on FDA discussions regarding the Animal Rule for tivoxavir marboxil in Q2 2025[6] - Traws Pharma aims to finalize the development plan for tivoxavir marboxil and move forward on the path to approval in 2025[6] - Ratutrelvir, the company's COVID-19 candidate, showed promising data at the International Conference for Antiviral Research (ICAR 2025)[11] Share Information - As of March 26, 2025, Traws had 5,073,790 shares of common stock outstanding, reflecting the issuance of 3.9 million shares related to the December 2024 financing[17] - The weighted-average shares of common stock outstanding increased to 1,552,685 in 2024 from 839,554 in 2023[28]