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DWTX

Dogwood Therapeutics, Inc.

DWTX

Dogwood Therapeutics, Inc. • NASDAQ
$6.57 ▲ 0.77% (+0.05)
Market Cap $12.56 M
52w High $29.28
52w Low $1.87
Dividend Yield 0%
P/E -0.26
Volume 14.49K
Outstanding Shares 1.91M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $15.809M ▲ $-15.745M ▼ 0% $-8.2 ▼ $-15.729M ▼
Q2-2025 $0 $3.923M ▼ $-3.807M ▲ 0% $-1.99 ▲ $-3.906M ▲
Q1-2025 $0 $4.43M ▼ $-10.925M ▼ 0% $-8.45 ▼ $-4.413M ▲
Q4-2024 $0 $7.542M ▲ $-7.728M ▼ 0% $-5.9 ▼ $-7.573M ▼
Q3-2024 $0 $2.301M $-2.281M 0% $-2.05 $-2.301M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.127M ▼ $91.993M ▼ $14.608M ▲ $77.385M ▼
Q2-2025 $13.403M ▼ $96.693M ▼ $14.152M ▼ $82.541M ▲
Q1-2025 $17.539M ▲ $96.985M ▲ $89.898M ▲ $7.087M ▼
Q4-2024 $14.848M ▲ $94.308M ▲ $30.027M ▲ $64.281M ▲
Q3-2024 $2.04M $2.283M $1.334M $949.431K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-15.745M ▼ $-3.273M ▲ $0 $0 ▲ $-3.276M ▲ $-3.273M ▲
Q2-2025 $-3.807M ▲ $-4.026M ▲ $0 $-120.133K ▼ $-4.136M ▼ $-4.026M ▲
Q1-2025 $-10.925M ▼ $-4.683M ▲ $0 ▼ $7.372M ▼ $2.691M ▼ $-4.683M ▲
Q4-2024 $-7.728M ▼ $-6.132M ▼ $3.762M ▲ $15.322M ▲ $12.808M ▲ $-6.132M ▼
Q3-2024 $-2.281M $-910.137K $0 $-70.227K $-980.364K $-910.137K

Five-Year Company Overview

Income Statement

Income Statement Dogwood is a classic early-stage biotech: it has not generated product revenue over the past several years and has consistently reported operating losses. Those losses appear relatively stable in size, reflecting ongoing research, clinical development, and corporate overhead rather than any mature commercial activity. Earnings per share have swung sharply, most likely because of changes in share count and capital structure around the merger, not because of business performance. Profitability will depend entirely on successful clinical outcomes and future partnering or commercialization, which remain uncertain at this stage.

Balance Sheet

Balance Sheet The balance sheet is very light, with modest total assets and a small cash position, supported by a thin but positive equity base. Debt only recently appears on the balance sheet and is still limited in scale, so leverage is not yet a central concern. However, the overall financial cushion is small for a company running multiple clinical programs, which means the balance sheet is highly sensitive to future funding decisions, trial outcomes, and partnering activity. Any setback in development or delay in raising capital could quickly tighten financial flexibility.

Cash Flow

Cash Flow Cash flows reflect a typical development-stage biotech pattern: ongoing cash outflows from operations tied to R&D and general expenses, with no offsetting inflows from product sales. Capital spending is negligible, so negative free cash flow is driven almost entirely by the cost of running the pipeline. This means the company depends on external financing, grants, or partnerships to sustain operations. While the current burn rate looks controlled in absolute terms, the limited starting cash base implies that future capital raises or non-dilutive funding will likely be needed to maintain the pipeline over the next several years.

Competitive Edge

Competitive Edge Dogwood’s competitive position rests on a diversified but coherent pipeline focused on two high-need areas: non-opioid pain and fatigue-related antiviral therapies. The pain franchise centers on Halneuron, a highly selective sodium channel blocker aimed at chemotherapy-induced neuropathic pain, an indication with no approved targeted therapies today. SP16 adds a differentiated nerve-repair angle via an anti-inflammatory and neuroprotective mechanism. On the antiviral side, IMC-1 and IMC-2 use proprietary combinations of established drugs to target conditions like fibromyalgia and Long-COVID fatigue, where patients often have limited effective options. Fast Track designations and NCI-funded work add credibility and some regulatory and financial support. Against this, the company is small, all assets are still experimental, prior fibromyalgia data have been mixed, and Dogwood faces competition from larger firms also working on pain and post-viral syndromes. Overall, the company has a clear niche and interesting science but remains competitively unproven until later-stage data arrive.

Innovation and R&D

Innovation and R&D Innovation is the core of Dogwood’s story. The pipeline spans four clinical-stage assets with distinct mechanisms: a highly selective NaV1.7 blocker for pain, a first-in-class LRP1 agonist for nerve repair, and two antiviral–anti-inflammatory combinations targeting chronic, fatigue-heavy conditions. This reflects a strategy of going after difficult indications where biology suggests viral or inflammatory drivers and where existing treatments are inadequate. The National Cancer Institute’s funding of SP16’s early trial reduces some cost and provides external scientific validation, while regulatory alignment and Fast Track status for other programs should help streamline development. Still, the R&D track record is early: one key fibromyalgia trial did not meet its primary endpoint, and much of the enthusiasm rests on subgroup findings and small studies. Execution quality in upcoming trials and the ability to prioritize among programs will heavily influence how effective this innovation engine really is.

Summary

Dogwood Therapeutics is a pre-revenue, clinical-stage biotech with a lean financial base and a relatively broad pipeline for its size. Financial statements show a company still firmly in the investment phase: recurring operating losses, modest assets and cash, and reliance on external capital rather than internally generated funds. Strategically, the merger-created pipeline offers multiple shots on goal in areas of genuine unmet need, supported by novel mechanisms, some regulatory advantages, and partial non-dilutive funding. Offsetting these positives are the typical high risks of early-stage biotech: clinical uncertainty, prior mixed data in at least one program, a thin balance sheet, and a likely need for further capital and partnerships to reach late-stage development. Future value will hinge on upcoming trial readouts, the ability to secure strong partners, and disciplined financial management while navigating a high-risk, high-uncertainty path.

NEWS

November 11, 2025 · 8:45 AM UTC

Dogwood Announces Enrollment of First 100 Patients in Ongoing Halneuron(R) Phase 2b Trial, Interim Sample Size Analysis on Track for December 2025

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November 6, 2025 · 8:45 AM UTC

Dogwood Therapeutics Reports Third Quarter 2025 Financial Results

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October 30, 2025 · 9:15 AM UTC

Dogwood Therapeutics to Report Third Quarter 2025 Financial Results on Thursday, November 6, 2025

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October 14, 2025 · 8:45 AM UTC

Dogwood Therapeutics to Participate at the Maxim Growth Summit 2025

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October 7, 2025 · 8:45 AM UTC

Dogwood Therapeutics, Inc. Chief Medical Officer, Dr. Michael Gendreau, to Present an Overview of the Halneuron® Pain Research Program at the 19th Annual Pain Therapeutics Summit

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