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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
Monday, 30th December at 8:00 am
Initial tranche of $20 Million extends cash runway into 1H26, subsequent tranche of up to $52.6 Million will provide for runway 3+ years enabling the company to reach both near-term and long-term value inflecting readouts
NEWTOWN, Pa., Dec. 30, 2024 /PRNewswire/ -- Traws Pharma, Inc. (NASDAQ: TRAW) ("Traws Pharma", "Traws" or "the Company"), a clinical-stage biopharmaceutical company developing oral small molecule therapies for the treatment of respiratory viral diseases including bird flu, today announced that it has entered into definitive agreements to raise up to $72.6 million before deduction of placement agent's fees and other estimated offering expenses. The initial tranche of $20 million gross proceeds will come in at closing for the issuance and sale of an aggregate of 3,919,249.00 shares of common stock and pre-paid warrants, and up to another $52.6 million upon exercise of non-prepaid warrants issued with the offering if exercised in full within 30 days of the later of the following key data read outs: Ferret Bird Flu Data and Non-Human Primate Bird Flu Data (both expected early-1Q25) and Phase 2A Data (expected-2H25). The closing of the offering is expected to occur on or about December 31, 2024, subject to the satisfaction of customary closing conditions.
Monday, 30th December at 8:00 am
Initial tranche of $20 Million extends cash runway into 1H26, subsequent tranche of up to $52.6 Million will provide for runway 3+ years enabling the company to reach both near-term and long-term value inflecting readouts
NEWTOWN, Pa., Dec. 30, 2024 /PRNewswire/ -- Traws Pharma, Inc. (NASDAQ: TRAW) ("Traws Pharma", "Traws" or "the Company"), a clinical-stage biopharmaceutical company developing oral small molecule therapies for the treatment of respiratory viral diseases including bird flu, today announced that it has entered into definitive agreements to raise up to $72.6 million before deduction of placement agent's fees and other estimated offering expenses. The initial tranche of $20 million gross proceeds will come in at closing for the issuance and sale of an aggregate of 3,919,249.00 shares of common stock and pre-paid warrants, and up to another $52.6 million upon exercise of non-prepaid warrants issued with the offering if exercised in full within 30 days of the later of the following key data read outs: Ferret Bird Flu Data and Non-Human Primate Bird Flu Data (both expected early-1Q25) and Phase 2A Data (expected-2H25). The closing of the offering is expected to occur on or about December 31, 2024, subject to the satisfaction of customary closing conditions.
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