Traws Pharma Secures $60M PIPE ($10M Upfront), Plans Q2 Influenza Challenge Trial
Traws Pharma secured a $60M PIPE financing ($10M upfront) to fund operations through Q1 2027 and advance its once-monthly influenza prophylactic candidate tivoxavir marboxil into a human challenge trial pending MHRA approval. Ratutrelvir Phase 2a topline data show a differentiated safety profile versus PAXLOVID in COVID patients, with final analysis underway.
1. Full Year 2025 Results and PIPE Financing
Traws Pharma reported financial results for the year ended December 31, 2025 and closed a private investment in public equity financing of up to $60 million, including $10 million in initial gross proceeds from the sale of 5,982,919 shares at $1.6730 per share. The financing includes milestone-based warrants and common warrants exercisable over three years to support operations into Q1 2027.
2. Tivoxavir Marboxil Influenza Prophylactic Program
The Phase 1 bridging study in Australia is evaluating a compressed tablet formulation of tivoxavir marboxil designed for once-monthly influenza prophylaxis, aiming to confirm 28-day coverage. Subject to MHRA approval, Traws plans to initiate a single-dose human influenza challenge trial in Q2 2026 while engaging with the U.S. FDA to lift the clinical hold.
3. Ratutrelvir Phase 2a COVID Trial Data
Topline Phase 2a data for Ratutrelvir in COVID-19 patients revealed a differentiated safety profile compared to PAXLOVID, with overall favorable tolerability. Final study analysis is underway, potentially positioning Ratutrelvir as an alternative oral antiviral therapy.