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TRAW

Traws Pharma, Inc.

TRAW

Traws Pharma, Inc. • NASDAQ
$2.70 ▲ 5.47% (+0.14)
Market Cap $12.87 M
52w High $19.44
52w Low $0.97
Dividend Yield 0%
P/E -1.48
Volume 83.07K
Outstanding Shares 4.77M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $2.733M $3.982M $-625K ▲ -22.869% ▲ $-0.11 $-2.496M ▼
Q2-2025 $2.733M ▲ $3.982M ▼ $-915K ▼ -33.48% ▼ $-0.11 ▼ $-914K ▼
Q1-2025 $57K $5.259M ▼ $15.083M ▲ 26.461K% ▲ $2.17 ▲ $21.491M ▲
Q4-2024 $57K $8.591M $-8.475M -14.868K% $-8.81 $-8.473M
Q3-2024 $57K $8.591M $-8.475M -14.868K% $-8.81 $-8.473M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $6.42M ▼ $12.443M ▼ $7.898M ▲ $4.545M ▼
Q2-2025 $13.081M ▼ $15.622M ▼ $7.36M ▼ $8.262M ▲
Q1-2025 $15.937M ▼ $19.063M ▼ $13.063M ▼ $6M ▲
Q4-2024 $21.338M ▲ $24.962M ▲ $56.592M ▲ $-31.63M ▼
Q3-2024 $5.41M $8.936M $10.969M $-2.033M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-1.83M ▼ $-5.979M $0 $3.095M $-2.856M $-11.958M ▲
Q2-2025 $20.554B ▲ $-5.979M ▼ $0 $3.095M ▲ $-2.856M ▲ $-11.411B ▼
Q1-2025 $21.49M ▲ $-5.437M ▲ $0 $13K ▼ $-5.401M ▼ $-5.437M ▲
Q4-2024 $-38.397M ▼ $-15.516M ▼ $0 $19.977M ▲ $15.928M ▲ $-15.516M ▼
Q3-2024 $-8.475M $-11.476M $0 $0 $-11.476M $-11.476M

Five-Year Company Overview

Income Statement

Income Statement Traws Pharma is still a pure research-stage company with no product sales, so all activity flows through as costs rather than revenue. The company has posted steady operating losses for several years, which is typical for an early‑stage biotech funding clinical trials and overhead. Losses appear to have widened recently, likely reflecting higher R&D and merger‑related expenses. Per‑share losses look especially large because of multiple reverse stock splits, which mechanically magnify the reported loss per share even if the underlying dollar loss is modest. Overall, the income statement shows a business entirely dependent on future drug success or partnerships to eventually offset its cost base.

Balance Sheet

Balance Sheet The balance sheet is very small and almost entirely made up of cash, with little in the way of physical assets or property, which is normal for a lean biotech platform. Cash levels have drifted down over time, and shareholder equity has recently turned negative, meaning obligations now exceed recorded assets. There is effectively no traditional bank debt, so the capital structure is driven more by equity and other liabilities than by loans. However, the combination of a thin asset base and negative equity suggests a limited financial cushion and a heightened need for fresh capital to support ongoing trials. Repeated reverse splits over the years highlight past pressure on the share count and stock price, which often goes hand‑in‑hand with frequent capital raises in this sector.

Cash Flow

Cash Flow Traws Pharma consistently uses cash in its operations, as would be expected for a company funding clinical research without any commercial products. Operating cash outflows have been fairly steady year to year, suggesting a controlled but ongoing cash burn rather than sudden spikes. There is essentially no spending on long‑term assets, so nearly every dollar goes into R&D, clinical trials, and corporate expenses rather than buildings or equipment. Because there is no internal cash generation, the business model relies on periodic injections of outside capital—through equity issuance, collaborations, or other financing—to sustain operations. The small cash balance relative to the burn rate points to recurring funding risk if new capital is not secured on reasonable terms.

Competitive Edge

Competitive Edge Traws Pharma’s competitive position rests on a focused pipeline rather than on size or market reach. It is going up against large, well‑funded pharmaceutical companies in COVID, influenza, and oncology, but it is targeting more specific niches: resistant viruses, patients who cannot take current standard treatments, and cancers that have stopped responding to existing drugs. Its oral antiviral candidates are designed to avoid known drawbacks of current options, such as complex drug interactions or multi‑day dosing schedules, which could be meaningful advantages if clinical data holds up. On the oncology side, its drugs aim to overcome treatment resistance by hitting multiple pathways, potentially offering options where current therapies fail. Still, all of this remains unproven in late‑stage trials, so the competitive edge is more about scientific promise than demonstrated market power at this stage.

Innovation and R&D

Innovation and R&D The company is highly R&D‑driven, with a pipeline that spans antivirals for COVID and influenza, as well as targeted cancer therapies. Its COVID candidate aims to remove the need for ritonavir, potentially broadening use to patients on many other medicines, while its flu drug is designed as a convenient single‑dose treatment with activity against resistant and bird‑flu strains. In oncology, Traws is working on drugs that go beyond standard cell‑cycle blockers, trying to shut down multiple resistance pathways and rare, difficult‑to‑treat cancers. The use of AI‑enhanced chemistry is a further attempt to speed design and improve safety profiles, although these tools have to prove their real‑world impact. Several programs are in or heading toward mid‑stage trials, but some studies are paused for funding, underlining that scientific ambition is constrained by the company’s financial resources.

Summary

Traws Pharma is a tiny, pre‑revenue biotech created through a recent merger, with a narrow cash cushion, negative equity, and a consistent pattern of operating losses typical of its stage. The investment story is almost entirely about the pipeline: differentiated oral antivirals for COVID and influenza and multi‑target oncology agents aimed at treatment‑resistant disease. Success would depend on delivering solid clinical data, securing regulatory approvals or accelerated pathways, and likely partnering with larger companies, especially for global antiviral markets. On the risk side, the firm faces intense competition from established players, high scientific and regulatory uncertainty, and clear ongoing financing needs, as reflected in its history of reverse splits and its small balance sheet. Overall, this is a high‑risk, high‑uncertainty profile where future outcomes are dominated by clinical results and access to capital rather than current financial performance.

NEWS

October 30, 2025 · 12:00 PM UTC

ChemDiv Extends CMC Services Collaboration for Ratutrelvir, a Potential Best-in-Class COVID-19 Therapeutic Advancing in Phase 2 Clinical Trials

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October 22, 2025 · 6:40 PM UTC

Dover, Delaware -- Expert Systems Inc., a leading life sciences accelerator, Supports Traws Pharma Phase 2 Clinical Studies of Ratutrelvir -- a Novel Ritonavir-Free Antiviral for COVID-19.

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October 14, 2025 · 7:00 AM UTC

Traws Pharma Doses First Patient with Ratutrelvir in Phase 2 COVID Studies, Expects Results by Year-End 2025

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