Core Insights - Traws Pharma is advancing its Phase 2 studies for ratutrelvir, a ritonavir-free protease inhibitor aimed at treating Acute and Long COVID, with topline data expected by year-end 2025 [1][3] - The company has acquired significant intellectual property and assets, enhancing its portfolio [1][6] - Traws Pharma has achieved notable cost reductions in its financials quarter over quarter [1][7] Product Development - Ratutrelvir is positioned as a potential best-in-class therapy to minimize the risk of viral rebound and Long COVID, designed for single-dose administration with a target regimen of 600 mg/day for ten days [3][12] - Tivoxavir Marboxil (TXM) is being developed as a single-dose treatment for bird flu and seasonal flu, showing promising preclinical results [3][13] - The U.S. market opportunity for both ratutrelvir and TXM is estimated to be multi-billion dollars, with potential government stockpiling for pandemic preparedness [4][12] Financial Results - As of September 30, 2025, Traws Pharma reported cash and cash equivalents of approximately $6.4 million, a decrease from $21.3 million as of December 31, 2024 [5][21] - Revenue for the quarter ended September 30, 2025, was zero, compared to $57 thousand for the same period in 2024 [7][24] - Research and development expenses decreased to $2.3 million from $5.1 million year-over-year, reflecting cost management efforts [7][8] Management Updates - The company is actively seeking partnerships for its legacy oncology assets, including rigosertib and narazaciclib, to support further development [4][16] - Recent management changes include the appointment of John Leaman, MD, as Independent Board Director and the confirmation of Iain Dukes as CEO [11]