---
title: "Traws Pharma (TRAW) news: going concern and offering"
url: "https://aibio.space/companies/traws-pharma/"
publisher: "aibio.space (Biotech Investor Relations News)"
summary: "TRAW going concern, offering and Nasdaq notice news: Traws Pharma files NT 10-K, cites financing efforts and going concern assessment. Traws Pharma, Inc."
---

TRAW Traws Pharma, Inc. NASDAQ · United States

# Traws Pharma (TRAW) news TRAW going concern, offering and Nasdaq notice news

Financings · 2026-10-23

## [Traws Pharma signs $50,000,000 stock purchase agreement with Roth Principal Investments](https://aibio.space/news/traws-pharma-signs-50-000-000-stock-purchase-agreement-roth-principal/)

Traws can sell up to $50,000,000 of new stock to Roth over 36 months, but no shares can be sold until the SEC declares a resale registration effective. Cash was $5.0 million on June 30, 2026, and cash used in operations was $18.2 million in 2025.

## Latest Traws Pharma news

1. 2026-08-14 Company Updates [Traws Pharma reports Q2 2026 results and updated MHRA timeline](https://aibio.space/news/traws-pharma-reports-q2-2026-results-updated-mhra-timeline/) Traws reports $5.0 million in cash at June 30, 2026, and says existing cash plus expected at-the-market proceeds fund planned operations into the first quarter of 2027.
2. 2026-07-29 Listings [Traws Pharma receives Nasdaq notice on $1.00 minimum bid price](https://aibio.space/news/traws-pharma-receives-nasdaq-notice-1-00-minimum-bid-price/) Nasdaq says Traws has until January 25, 2027 to regain compliance with the minimum bid price requirement, and that its listing remains fully effective for now.
3. 2026-07-10 Financings [Traws Pharma sets $5,575,709 at-the-market sales limit with Citizens JMP](https://aibio.space/news/traws-pharma-sets-5-575-709-market-sales-limit-citizens-jmp/) Citizens JMP Securities, LLC may sell up to $5,575,709 of Traws common stock under a July 10, 2026 prospectus supplement, the amount the company's current baby shelf limit allows.
4. 2026-06-22 Company Updates [Traws Pharma prepares updated MHRA data package for third quarter](https://aibio.space/news/traws-pharma-prepares-updated-mhra-data-package-third-quarter/) Traws says MHRA feedback has led it to add preclinical safety information to the tivoxavir marboxil data package, which it expects to resubmit in the third quarter of 2026.
5. 2026-06-12 Company Updates [Traws Pharma defers TXM challenge study after negative MHRA review](https://aibio.space/news/traws-pharma-defers-txm-challenge-study-after-negative-mhra-review/) Traws says a negative review by the UK regulator has deferred its planned Phase 2a influenza challenge study, and that it is advancing backup influenza compounds.
6. 2026-05-27 Company Updates [Traws Pharma unveils dual-strike antiviral aimed at hantavirus and Ebola](https://aibio.space/news/traws-pharma-unveils-dual-strike-antiviral-aimed-hantavirus-ebola/) Traws says a proprietary combination antiviral may have activity against hantavirus, Ebola and Lassa, and that it plans to work with the U.S. CDC and regional regulators in Africa.
7. 2026-05-15 Company Updates [Traws Pharma reports Q1 2026 net loss of $7.1 million and financing](https://aibio.space/news/traws-pharma-reports-q1-2026-net-loss-7-1-million-financing/) Traws reports a net loss of $7.1 million for the quarter ended March 31, 2026, and says its private financing of up to $60 million supports operations into the first quarter of 2027.
8. 2026-04-15 Company Updates [Traws Pharma reports 2025 results and completes up to $60 million PIPE](https://aibio.space/news/traws-pharma-reports-2025-results-completes-up-60-million-pipe/) Traws says a $10 million upfront private placement, with up to $50 million more in warrants, supports operations into the first quarter of 2027, including a planned challenge trial of tivoxavir marboxil.
9. 2026-03-31 Distress [Traws Pharma files NT 10-K, cites financing efforts and going concern assessment](https://aibio.space/news/traws-pharma-files-nt-10-k-cites-financing-efforts-going-concern/) Traws Pharma filed a Form NT 10-K on March 31, 2026, saying it has not yet signed any financing and needs time to assess how a deal would affect its going-concern evaluation. The notice also gives unaudited 2025 net income of about $9.2 million, driven by a $26.7 million warrant accounting gain.
10. 2025-09-12 Mergers [Traws Pharma buys antiviral compound assets from related party Viriom for $2,350,000 cash](https://aibio.space/news/traws-pharma-buys-antiviral-compound-assets-related-party-viriom-2-350/) Traws Pharma paid $2,350,000 in cash, in full, for assets tied to a pyrrolidine antiviral compound held by Viriom. The seller's executive chairman is Traws's own chief operating officer, and its 2024 annual report carries a going-concern warning.
11. 2025-09-12 Mergers [Traws Pharma buys antiviral assets from Viriom for $2,350,000 in related-party deal](https://aibio.space/news/traws-pharma-buys-antiviral-assets-viriom-2-350-000-related-party-deal/) Traws Pharma paid $2,350,000 in cash for intellectual property and other assets from Viriom, a company tied to its chief operating officer. The board and audit committee approved the deal and called the price fair and reasonable.
12. 2025-04-07 Financings [Traws Pharma sets at-the-market sales limit at $7,427,749 under baby shelf cap](https://aibio.space/news/traws-pharma-sets-market-sales-limit-7-427-749-under-baby-shelf-cap/) Traws Pharma raised its at-the-market limit to $7,427,749 under the baby shelf cap, after selling 42,100 shares for about $122,210. The float that sets the cap uses an $8.29 high close, while the stock closed at $1.96 on April 4, 2025.

## Traws Pharma at a glance

- **Ticker**: TRAW

- **Listing**: NASDAQ

- **Country**: United States

- **Cash, Jun 30, 2026**: $5.0 million

### Related companies

- [LianBio](https://aibio.space/companies/lianbio/) OTC: LIANY
- [Iambic Therapeutics](https://aibio.space/companies/iambic-therapeutics/) NASDAQ: IAM
- [ANI Pharmaceuticals](https://aibio.space/companies/ani-pharmaceuticals/) NASDAQ: ANIP
- [Zivo Bioscience](https://aibio.space/companies/zivo-bioscience/) OTC: ZIVO
- [Novavax](https://aibio.space/companies/novavax/) NASDAQ: NVAX
- [Frontage Holdings](https://aibio.space/companies/frontage/) HKEX: 1521
- [SKYTECH ORION GLOBAL CORP.](https://aibio.space/companies/skytech-orion-global/) OTC: SKTG
- [Exicure](https://aibio.space/companies/exicure/) NASDAQ: XCUR

### Also on NASDAQ

- [Legend Biotech](https://aibio.space/companies/legend-biotech/) LEGN
- [QTREX Quantum](https://aibio.space/companies/qtrex-quantum/) QTEX
- [MediWound](https://aibio.space/companies/mediwound/) MDWD
- [Xenon Pharmaceuticals](https://aibio.space/companies/xenon-pharmaceuticals/) XENE
- [Ultragenyx Pharmaceutical](https://aibio.space/companies/ultragenyx-pharmaceutical/) RARE
- [Clene](https://aibio.space/companies/clene/) CLNN

## Traws Pharma annual financials

| Line | FY2025 | FY2024 |
|---|---|---|
| Revenue | [$2.8 million](https://www.sec.gov/Archives/edgar/data/1130598/000110465926043832/) | [$226,000](https://www.sec.gov/Archives/edgar/data/1130598/000110465926043832/) |
| Net income (loss) | [$9.2 million](https://www.sec.gov/Archives/edgar/data/1130598/000110465926043832/) | [-$166.5 million](https://www.sec.gov/Archives/edgar/data/1130598/000110465926043832/) |
| Cash from operations | [-$18.2 million](https://www.sec.gov/Archives/edgar/data/1130598/000110465926043832/) | [-$29.8 million](https://www.sec.gov/Archives/edgar/data/1130598/000110465926043832/) |
| Cash and equivalents | [$3.8 million](https://www.sec.gov/Archives/edgar/data/1130598/000110465926097261/) | [$21.3 million](https://www.sec.gov/Archives/edgar/data/1130598/000110465926097261/) |

Latest balance sheet, Jun 30, 2026 (10-Q): cash and equivalents $5.0 million.

Figures as reported to the SEC in XBRL; each one links to its filing. Not adjusted, not investment advice.

## Questions about Traws Pharma

Has Traws Pharma issued a going-concern warning?

Our latest story on this, dated Mar 31, 2026: "Traws Pharma files NT 10-K, cites financing efforts and going concern assessment". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/traws-pharma-files-nt-10-k-cites-financing-efforts-going-concern/).

Has Traws Pharma raised money recently?

Our latest story on this, dated Aug 14, 2026: "Traws Pharma reports Q2 2026 results and updated MHRA timeline". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/traws-pharma-reports-q2-2026-results-updated-mhra-timeline/).

Has Traws Pharma received a Nasdaq deficiency notice?

Our latest story on this, dated Jul 29, 2026: "Traws Pharma receives Nasdaq notice on $1.00 minimum bid price". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/traws-pharma-receives-nasdaq-notice-1-00-minimum-bid-price/).

What is the ticker symbol of Traws Pharma?

Traws Pharma, Inc. trades under the ticker TRAW on NASDAQ.

Where is Traws Pharma listed?

Traws Pharma, Inc. is listed on NASDAQ.

What is the SEC CIK of Traws Pharma?

The SEC Central Index Key (CIK) for Traws Pharma, Inc. is 1130598. Its filings are on SEC EDGAR.

How many shares does Traws Pharma have outstanding?

15,368,277 shares as of 2026-08-12, per the cover page of its 10-Q filed 2026-08-14.

Which country or territory is Traws Pharma listed under?

Our directory records Traws Pharma, Inc. under United States.

What does Traws Pharma do?

Our directory classifies Traws Pharma, Inc. as: Biotechnology. This is a directory classification, not a description of the pipeline.

What is the ISIN of Traws Pharma?

The ISIN recorded for Traws Pharma, Inc. is US68232V8845.

Does aibio.space cover Traws Pharma?

aibio.space lists Traws Pharma, Inc. among 2,820 public biotech companies and publishes its news here as stories appear.

Where is Traws Pharma incorporated?

SEC records list its state or country of incorporation as DE.

What was Traws Pharma's revenue last year?

$2.8 million for the fiscal year ended Dec 31, 2025, as reported to the SEC.

Is Traws Pharma profitable?

Traws Pharma, Inc. reported net income of $9.2 million for the fiscal year ended Dec 31, 2025, and used $18.2 million of cash in operations, per its annual report to the SEC.

How much cash does Traws Pharma have?

$5.0 million in cash at Jun 30, 2026, per its 10-Q.

## Investor discussion: Traws Pharma

Members talk about Traws Pharma (TRAW). Reader posts, not aibio.space reporting, and not investment advice.

Rules

1. **Securities violations are strictly forbidden.** No market manipulation, no pump-and-dump, no false or misleading statements, and no inside information.
2. **Say whether you hold the stock.** Every post states long, short or no position.
3. **No paid or sponsored posts.** Do not post for anyone who pays or rewards you.
4. **No buy or sell calls and no price targets.**
5. **No accusations of crime or fraud against named people** unless you link a court filing or a regulator's release that makes them.
6. **No personal details and no spam.** No links at all for your first 7 days as a member.

Posts that break the rules may be deleted without notice, and the account restricted or closed. See the [terms](https://aibio.space/terms/#discussion) and the [privacy policy](https://aibio.space/privacy/#discussion).

## Capital-markets timeline

Financings, listing notices, splits, legal actions and other investor events at Traws Pharma, newest first. Each line links the filing it comes from.

1. 2026-10-23 Financings Reported an unregistered sale of its securities. SEC Form 8-K (Items 1.01,3.02,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465926118519/tm2626240d4_8k.htm)
2. 2026-10-20 Listings Asked shareholders to approve a reverse stock split. SEC Form DEF 14A. [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465926117406/tm2626240-2_def14a.htm)
3. 2026-10-08 Listings Asked shareholders to approve a reverse stock split. SEC Form PRE 14A. [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465926114700/tm2626240-1_pre14a.htm)
4. 2026-07-31 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465926089220/tm2621656d1_8k.htm)
5. 2026-07-10 Financings Reported a financing. SEC Form 424B5. [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465926082645/tm2618293d3_424b5.htm)
6. 2026-04-15 Financings Reported a financing. SEC Form 8-K (Items 1.01,3.02,8.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465926043497/tm2611843d1_ex99-1.htm)
7. 2026-03-31 Distress Told the SEC a periodic report would be filed late. SEC Form NT 10-K. [Source](https://www.sec.gov/Archives/edgar/data/1130598/000113059826000002/form12b25-03312026_080318.htm)
8. 2025-09-12 Mergers Reported completing an acquisition or a sale of assets. SEC Form 8-K (Items 1.01,2.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465925089564/tm2526017d1_8k.htm)
9. 2025-04-07 Financings Reported a financing. SEC Form 424B5. [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465925032678/tm2511684d2_424b5.htm)
10. 2025-03-10 Financings Reported a financing. SEC Form 8-K (Items 1.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465925022193/tm258583d1_8k.htm)
11. 2025-02-28 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 7.01,8.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465925018636/tm257866d1_ex99-1.htm)
12. 2025-02-19 Financings Reported a financing. SEC Form 8-K (Items 1.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465925015182/tm257041d1_8k.htm)
13. 2025-02-18 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 8.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465925014748/tm256499d1_8k.htm)
14. 2024-11-22 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 3.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465924122149/tm2429248d1_8k.htm)
15. 2024-11-01 Listings Reported a notice from its stock exchange about continued listing requirements. SEC Form 8-K (Items 5.07,8.01). [Source](https://www.sec.gov/Archives/edgar/data/1130598/000110465924113548/tm2427326d1_8k.htm)

## Stock chart

Price chart and quote supplied by TradingView, delayed as the exchange requires. It loads only if you choose to show it. Information only, not investment advice. [Open NASDAQ:TRAW on TradingView](https://www.tradingview.com/symbols/NASDAQ-TRAW/).

## SEC filings and registration

- **SEC name**: Traws Pharma, Inc.

- **CIK**: 1130598

- **Industry (SIC)**: Pharmaceutical Preparations (2834)

- **US tickers**: TRAW (Nasdaq)

- **State or country of incorporation**: DE

- **Fiscal year ends**: December 31

- **Filer category**: Non-accelerated filer<br>Smaller reporting company

- **Business address**: 12 PENNS TRAIL, NEWTOWN, PA, 18940

- **Phone**: 267-759-3680

- **Shares outstanding**: 15,368,277 as of 2026-08-12 (10-Q filed 2026-08-14)

- **Former names**: Onconova Therapeutics, Inc.; ONCONOVA THERAPEUTICS INC

### Recent filings (8-K and 6-K are the company's own announcements)

- [DEF 14A](https://www.sec.gov/Archives/edgar/data/1130598/000110465926117406/tm2626240-2_def14a.htm) filed 2026-10-20
- [10-Q](https://www.sec.gov/Archives/edgar/data/1130598/000110465926097261/traw-20260630x10q.htm) filed 2026-08-14
- [8-K](https://www.sec.gov/Archives/edgar/data/1130598/000110465926097226/tm2623190d1_8k.htm) filed 2026-08-14
- [8-K](https://www.sec.gov/Archives/edgar/data/1130598/000110465926089220/tm2621656d1_8k.htm) filed 2026-07-31
- [8-K](https://www.sec.gov/Archives/edgar/data/1130598/000110465926082649/tm2618293d4_8k.htm) filed 2026-07-10
- [424B5](https://www.sec.gov/Archives/edgar/data/1130598/000110465926082645/tm2618293d3_424b5.htm) filed 2026-07-10
- [8-K](https://www.sec.gov/Archives/edgar/data/1130598/000110465926082250/tm2620113d1_8k.htm) filed 2026-07-09
- [S-3](https://www.sec.gov/Archives/edgar/data/1130598/000110465926079855/tm2618293d1_s3.htm) filed 2026-07-01

Source: [SEC EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001130598), retrieved October 23, 2026. Shares outstanding is the cover-page figure from the latest periodic report. The SEC does not publish share prices.

## Listing details

Traws Pharma, Inc. is a public biotech or pharmaceutical company listed on NASDAQ under the ticker TRAW, recorded under United States. The directory classifies it as Biotechnology. aibio.space tracks 2,820 public biotech companies worldwide and publishes investor news on them.

- **Company**: Traws Pharma, Inc.

- **Ticker**: TRAW

- **Listing**: NASDAQ

- **Country or territory**: United States

- **Business scope**: Biotechnology

- **ISIN**: US68232V8845

- **Last quote in directory**: 2026-10-21

- **Directory source**: [Listing page](https://www.tradingview.com/symbols/NASDAQ-TRAW/)

Listing facts come from our company directory, researched on October 22, 2026. A listing record does not certify that a security currently trades. [Tell us about a change](https://aibio.space/reputation/#update). Work at this company? [Claim this page](https://aibio.space/claim/).

Published and maintained by aibio.space. Not investment advice. [How we work](https://aibio.space/disclosures/).

Who manages this page **This page is managed by aibio.space.** The company does not run, edit or pay for this page. News, desk views and Investor Ranks are written and managed independently by aibio.space under our editorial and analytical judgment. Opinion only, not investment advice. [How we work](https://aibio.space/disclosures/#paid) · [Terms](https://aibio.space/terms/#news) · [Request a correction](https://aibio.space/reputation/#update)

---
Source page: https://aibio.space/companies/traws-pharma/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Traws Pharma (TRAW) news: going concern and offering", 2026-10-31, https://aibio.space/companies/traws-pharma/