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Mar 31, 2024
Onconova Q1 2024 Earnings Report
Reported financial results for the first quarter of 2024 and provided a business update.
Key Takeaways
Traws Pharma reported first quarter 2024 financial results, including revenue of $56,000 and a net loss of $5.0 million, or $0.24 per share. The company's cash and cash equivalents were $16.4 million as of March 31, 2024, and they completed the acquisition of Trawsfynydd and a concurrent $14 million private placement financing.
Completed acquisition of Trawsfynydd and a concurrent $14 million capital raise.
Advanced pipeline, focusing on candidates for COVID 19, influenza, and oncology programs
Initiated first-in-human dosing for COVID 19 product candidate and completed the last dose escalation cohort for narazaciclib.
Poised to initiate Phase 2 studies in H2 2024 for influenza candidate and ritonavir-free COVID 19 protease inhibitor.
Forward Guidance
The Company believes that its cash and cash equivalents will be sufficient to fund ongoing clinical trials and business operations into the fourth quarter of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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