Traws Pharma files prospectus supplement for up to $5.58 million at-the-market stock sale

Traws Pharma, Inc. filed a prospectus supplement dated July 10, 2026 covering an at-the-market stock offering of up to $5,575,709 through Citizens JMP Securities under an agreement dated March 10, 2025. The company's stock trades on Nasdaq under "TRAW," and closed at $0.70 per share on July 7, 2026.¹ Citizens will receive a commission of 3.0% of gross proceeds from each share sale.¹

The filing discloses that Traws' influenza program hit a regulatory setback. The FDA notified the company that its US investigational new drug application for tivoxavir marboxil was placed on clinical hold over concerns with the toxicology data package.¹ Traws said it is working with the FDA to resolve the hold and advance the program in the US during fiscal year 2027.¹

On the COVID-19 side, the company reported progress for ratutrelvir. In February 2026, Traws announced completion of clinical analysis for its 90-patient, open-label Phase 2 study comparing ratutrelvir to PAXLOVID, plus a single arm in PAXLOVID-ineligible subjects, reporting fewer adverse events, no viral rebounds, and equivalent time to symptom resolution, with similar results in the ineligible group.¹ In that ineligible population, Traws reported 3 treatment-related adverse events in 30 subjects (10%) versus 7 events in 30 subjects (23.3%) for PAXLOVID, with faster symptom resolution (HR 1.31; 95% CI 0.78-2.20; p=0.018).¹

The filing also flags financial strain. Traws said it has substantial doubt about its ability to continue as a going concern, citing recurring losses and an accumulated deficit of $647.1 million as of March 31, 2026.¹ As of the prospectus date the company had about $5.0 million in cash, insufficient to fund operations past the first quarter of 2027.¹