Group 1 - Traws Pharma, Inc. has announced a financing agreement to raise up to 20 million and a subsequent tranche of up to $52.6 million, aimed at extending its cash runway into the first half of 2026 and beyond [1][2] - The financing will support the development of Tivoxavir Marboxil, a drug candidate designed to treat respiratory viral diseases, including bird flu, with significant potential in the antiviral market [2][9] - The initial tranche will be funded through the issuance of 3,919,249 shares of common stock and pre-paid warrants, with additional funds available upon the exercise of non-prepaid warrants [1] Group 2 - The company is expecting key data readouts in early 2025 related to Ferret Bird Flu and Non-Human Primate Bird Flu, as well as Phase 2A data anticipated in the second half of 2025 [1] - Traws Pharma has received support from notable institutional investors, indicating strong confidence in the company's potential and the transformative nature of this financing [2] - The company plans to host an update call regarding Tivoxavir Marboxil in the first quarter of 2025, providing further insights into its development [14] Group 3 - The H5N1 bird flu virus has been confirmed in at least 866 herds across 16 states in the U.S., with over 60 human infections reported, highlighting the urgency for effective treatments [8][13] - Tivoxavir Marboxil has shown potent in vitro activity against various influenza strains, including highly pathogenic avian flu, and may enable a single-dose prophylaxis regimen [9][13] - The financing and ongoing development efforts are crucial as health officials warn of the rising potential for epidemic or pandemic spread of bird flu [13]
Traws Pharma, Inc. Announces Financing up to $72.6 Million from Leading Healthcare Institutional Investors to Advance Tivoxavir Marboxil Development for H5N1 Bird Flu to Approval