Traws Pharma, Inc.(TRAW) - 2025 Q1 - Quarterly Results

Financial Performance - Revenue for the quarter ended March 31, 2025, was $57 thousand, a slight increase from$56 thousand for the same period in 2024[10] - Total revenue for the three months ended March 31, 2025, was $57,000, a slight increase from$56,000 in the same period of 2024, representing a growth of approximately 1.79%[24] - The net income for the quarter was $21.5 million, significantly improved from a net loss of$5.0 million in the same quarter of 2024, driven by a change in fair value of warrant liability[12] - The net income for Q1 2025 was $21,490,000, compared to a net loss of$4,983,000 in Q1 2024, indicating a significant turnaround[24] - Net income per share of common stock for Q1 2025 was $2.17, compared to a loss of$5.92 per share in Q1 2024[24] Expenses - Research and development (R&D) expenses for the quarter totaled $2.5 million, up from$1.9 million in the comparable period in 2024, primarily due to increased expenses related to virology programs[10] - Research and development expenses increased to $2,506,000 in Q1 2025, up from$1,912,000 in Q1 2024, reflecting a rise of 30.96%[24] - General and administrative (G&A) expenses decreased to $2.8 million from$3.4 million in the same period in 2024, mainly due to reduced consulting fees[11] - General and administrative expenses decreased to $2,754,000 in Q1 2025, down from$3,356,000 in Q1 2024, a reduction of 17.91%[24] Assets and Liabilities - As of March 31, 2025, Traws Pharma had cash, cash equivalents, and short-term investments of approximately $15.9 million, down from$21.3 million as of December 31, 2024[9] - Total current assets decreased to $18,856,000 as of March 31, 2025, down from$24,951,000 as of December 31, 2024, a decline of 24.43%[22] - Total liabilities significantly decreased to $13,063,000 as of March 31, 2025, compared to$56,592,000 as of December 31, 2024, a reduction of 76.98%[22] - Stockholders' equity improved to $6,000,000 as of March 31, 2025, from a deficit of$31,630,000 as of December 31, 2024[22] Product Development and Regulatory Activities - Traws Pharma is preparing to submit a briefing package for ratutrelvir to regulatory authorities in Q2 2025, targeting acute COVID treatment and Long COVID prevention[6] - Tivoxavir marboxil (TXM) is positioned for a multi-billion dollar market opportunity in the U.S. for bird flu and seasonal flu treatments, with ongoing preparations for regulatory approval[7] - Phase 1 data for TXM indicated that it maintained plasma blood levels above the EC90 for approximately three weeks after a single oral dose, supporting its use as a single-dose treatment[7] - Ratutrelvir's pharmacokinetic profile showed maintenance of target blood plasma levels approximately 13 times above the EC50, indicating potential effectiveness against COVID-19[15] Strategic Initiatives - Traws Pharma is seeking partnership opportunities for its legacy oncology assets, narazaciclib and rigosertib[6] Changes in Fair Value - The change in fair value of warrant liability contributed $26,513,000 to the income statement in Q1 2025, with no comparable figure in Q1 2024[24] Shareholder Information - The weighted-average shares of common stock outstanding increased to 6,965,927 in Q1 2025, compared to 841,738 in Q1 2024, reflecting a substantial increase in shares[24]