Traws Pharma Reports $2.73M Revenue for Q2 2025, Net Loss Improves to $915K

Traws Pharma, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company generated revenue of $2.73 million for the quarter, a substantial increase from $57,000 in the same period last year. This growth is attributed to the recognition of previously deferred revenue following the termination of a license agreement with Symbio Pharmaceuticals. For the first half of 2025, Traws Pharma's revenue reached $2.79 million, compared to $113,000 in the first half of 2024. Despite this revenue increase, the company reported a net loss of $915,000 for the quarter, a significant improvement from a loss of $123.14 million in the prior year, and a net income of $20.58 million for the first half of 2025, contrasting with a loss of $128.13 million in the same period last year.

The financial performance reflects a dramatic reduction in operating expenses, which totaled $3.98 million for the quarter, down from $123.41 million a year earlier. This decrease was primarily due to the absence of a non-cash in-process research and development expense of $117.46 million recognized in the previous year related to the acquisition of Trawsfynydd Therapeutics. Research and development expenses also fell to $2.29 million from $3.96 million, while general and administrative expenses decreased to $1.69 million from $1.98 million. The company’s accumulated deficit as of June 30, 2025, stood at $628.58 million, down from $649.15 million at the end of 2024.

Strategically, Traws Pharma has made significant moves, including the acquisition of Trawsfynydd Therapeutics in April 2024, which has expanded its clinical pipeline to four programs targeting respiratory viral diseases and cancer. The company is focusing on developing tivoxavir marboxil and ratutrelvir, with ongoing clinical trials and plans for future studies. The company has also engaged in a reverse stock split in September 2024 to enhance its stock price and comply with Nasdaq listing requirements, which it successfully met as of February 2025.

Operationally, Traws Pharma has seen changes in its workforce and management structure, with several key appointments and resignations in early 2025. The company’s employee headcount and operational metrics are not detailed in the filing, but it has indicated a need for additional financing to support ongoing clinical trials and operations. As of June 30, 2025, Traws Pharma had cash and cash equivalents of $13.08 million, a decrease from $21.34 million at the end of 2024, raising concerns about its ability to sustain operations for the next year without further funding.

Looking ahead, Traws Pharma acknowledges substantial doubt regarding its ability to continue as a going concern, emphasizing the need for additional financing to support its clinical development and operational strategies. The company plans to explore various funding sources, including equity financings and strategic partnerships, to ensure its future viability. The management's outlook remains cautious, reflecting the inherent uncertainties in the biopharmaceutical industry and the challenges associated with securing necessary capital.