Financial Performance - Net loss attributable to common stockholders for Q4 2025 was $3.8 million, or $0.26 per share, compared to a net loss of $8.2 million, or $6.29 per share, in Q4 2024[6]. - The net loss for the full year 2025 was $35.5 million, or $7.13 per share, compared to a net loss of $12.9 million, or $12.52 per share, in 2024[9]. Expenses - Research and development expenses for Q4 2025 were $2.3 million, consistent with Q4 2024[4]. - Full year 2025 research and development expenses increased to $21.8 million from $3.5 million in 2024, driven by acquired in-process research and development expenses and clinical trial costs[7]. - General and administrative expenses for Q4 2025 decreased to $1.5 million from $5.2 million in Q4 2024, primarily due to a reduction in nonrecurring transaction costs[5]. - Full year 2025 general and administrative expenses were $6.1 million, down from $8.7 million in 2024, mainly due to lower transaction costs[8]. Cash Position - As of December 31, 2025, cash and cash equivalents totaled $6.5 million, expected to fund operations through the Phase 2b final data readout[10]. Clinical Trials - The Halneuron® Phase 2b trial has enrolled 143 patients, with top-line results expected in Q3 2026[2]. Financing - A financing of up to $26.9 million was completed in January 2026, with gross proceeds of $12.5 million received[5]. Regulatory Designation - Halneuron® has received fast track designation from the FDA for treating chemotherapy-induced neuropathic pain[13].
Dogwood Therapeutics, Inc(DWTX) - 2025 Q4 - Annual Results