NEWTOWN, Pa., Dec. 30, 2024 /PRNewswire/ -- Traws Pharma, Inc. (NASDAQ: TRAW) ("Traws Pharma", "Traws" or "the Company"), a clinical-stage biopharmaceutical company developing oral small molecule therapies for the treatment of respiratory viral diseases including bird flu, today announced that it has entered into definitive agreements to raise up to $72.6 million before deduction of placement agent's fees and other estimated offering expenses. The initial tranche of $20 million gross proceeds will come in at closing for the issuance and sale of an aggregate of 3,919,249.00 shares of common stock and pre-paid warrants, and up to another $52.6 million upon exercise of non-prepaid warrants issued with the offering if exercised in full within 30 days of the later of the following key data read outs: Ferret Bird Flu Data and Non-Human Primate Bird Flu Data (both expected early-1Q25) and Phase 2A Data (expected-2H25). The closing of the offering is expected to occur on or about December 31, 2024, subject to the satisfaction of customary closing conditions.

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"We are appreciative of the support from new and existing institutional investors including Perceptive Advisors, OrbiMed, Alyeska, Torrey Pines and Ikarian Capital. This financing by high quality investors is transformative for Traws and highlights the meaningful potential for Tivoxavir Marboxil," said Iain D. Dukes, MA, DPhil, Executive Chairman of Traws Pharma and Venture Partner of OrbiMed.

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Robert R. Redfield, MD, Chief Medical Officer for Traws Pharma and former Director of the U.S. Centers for Disease Control and Prevention (CDC) commented, "With increasing numbers of human infections and recent reports of severe cases, we should be alert to the rising potential for epidemic or pandemic spread of bird flu." According to C. David Pauza, PhD, Chief Science Officer for Traws Pharma, Tivoxavir Marboxil has demonstrated potent inhibition of bird flu viruses as well as drug-resistant influenza viruses both in vitro and in vivo.

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Traws Pharma will host an update call on Tivoxavir Marboxil during the first quarter of 2025 with additional details forthcoming.

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Tungsten Advisors acted as the sole placement agent for the offering.

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