NEWTOWN, Pa., April 15, 2026 (GLOBE NEWSWIRE) -- Traws Pharma, Inc. (NASDAQ:TRAW, "Traws Pharma", "Traws" or "the Company")), a clinical-stage biopharmaceutical company developing novel therapies to target critical threats to human health from respiratory viral diseases, today announced that it has entered into a securities purchase agreement with new and existing institutional and accredited investors for a private investment in public equity ("PIPE") financing expected to provide approximately $10.0 million in gross proceeds at closing. The financing will position Traws Pharma to complete the Challenge trial, in the United Kingdom ("Challenge Trial") and includes up to $50 million of additional gross proceeds from milestone-based and three-year warrants.
The April 2026 financing consists of (i) $10.0 million of upfront gross proceeds at a purchase price of $1.6730 per share from the sale of common stock (or pre-funded warrants in lieu thereof), (ii) a milestone-based Series A warrant with potential additional aggregate gross proceeds of approximately $10.0 million if fully exercised upon receipt of approval from the Medicines and Healthcare products Regulatory Agency ("MHRA") to conduct a human challenge trial in the UK, (iii) a milestone-based Series B warrant with potential additional aggregate gross proceeds of approximately $10.0 million if fully exercised following both shareholder approval and the announcement of data from the challenge trial, and (iv) a Series C warrant with a three-year term providing potential additional aggregate gross proceeds of approximately $30.0 million if fully exercised following shareholder approval. The PIPE was priced "at-the-market" under the rules and regulations of The Nasdaq Stock Market LLC, with each warrant having an exercise price equal to the deal price.
"We are pleased to announce this financing and the support of existing and new investors," said Iain Dukes, MA, DPhil, Chief Executive Officer of Traws Pharma. "The capital from this financing positions us to advance our influenza program through a human challenge trial in the UK while preserving access to additional capital as we achieve key development milestones."
The financing was completed on April 15, 2026, with funding thereunder expected April ...
