--- title: "Dogwood reports first quarter 2026 results and SP16 IND approval" url: "https://aibio.space/news/dogwood-reports-first-quarter-2026-results-sp16-ind-approval/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-14" section: "Company Updates" tickers: "NASDAQ:DWTX" source: "https://www.sec.gov/Archives/edgar/data/1818844/000110465926060747/dwtx-20260514xex99d1.htm" summary: "Dogwood reported a first quarter net loss of $5.0 million and cash on hand of $13.2 million, which it says runs into the fourth quarter of 2026." --- By the aibio.space news desk. Sources - [Dogwood Therapeutics, Inc. 8-K (2026-05-14)](https://www.sec.gov/Archives/edgar/data/1818844/000110465926060747/dwtx-20260514xex99d1.htm) - [Dogwood Therapeutics, Inc. 10-K (2026-03-18): business](https://www.sec.gov/Archives/edgar/data/1818844/000110465926031061/dwtx-20251231x10k.htm) - [Dogwood Therapeutics, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1818844/000110465926031061/) [DWTX](https://aibio.space/companies/dogwood-therapeutics/) 2026-05-14 # Dogwood reports first quarter 2026 results and SP16 IND approval Tickers [DWTX](https://aibio.space/companies/dogwood-therapeutics/) Dogwood reported a first quarter net loss of $5.0 million and cash on hand of $13.2 million, which it says runs into the fourth quarter of 2026. ## Key facts - **Company**: Dogwood Therapeutics, Inc. (NASDAQ: DWTX) - **News type**: Company Updates - **Primary source**: [Dogwood Therapeutics, Inc. 8-K (2026-05-14)](https://www.sec.gov/Archives/edgar/data/1818844/000110465926060747/dwtx-20260514xex99d1.htm) *A gloved hand holding a blood collection tube. CC0, via rawpixel. The picture shows the field, not the companies named.* Dogwood Therapeutics, Inc. (Nasdaq: [DWTX](https://aibio.space/companies/dogwood-therapeutics/)) reported first quarter 2026 financial results on May 14, 2026, in a [release](https://www.sec.gov/Archives/edgar/data/1818844/000110465926060747/dwtx-20260514xex99d1.htm) from Alpharetta, Georgia. The company reported a net loss attributable to common stockholders of $5.0 million, or $0.15 basic and diluted net loss per share, for the quarter ended March 31, 2026. That compares with $12.2 million, or $8.45 per share, for the first quarter of 2025. At the time of the release, 164 patients had enrolled in the Halneuron Phase 2b trial. The first quarter of 2025 included a loss on debt conversion with a related party of $6,134,120, which does not appear in the 2026 quarter. ## Pipeline update Dogwood's lead program, Halneuron, is in a Phase 2b trial for chemotherapy-induced neuropathic pain (CINP), with top-line results expected in the fall of 2026. The company describes Halneuron as a non-opioid Na V 1.7 inhibitor with fast track designation from the FDA for CINP. Chief Executive Officer Greg Duncan said Dogwood is "off to a strong operational start to 2026," citing progress on Halneuron and on SP16. The FDA granted IND approval for SP16 IV, and the study for chemotherapy-induced pain and peripheral neuropathy is expected to begin enrolling in mid-2026. The National Cancer Institute fully funds the study, which will be conducted at the University of Virginia. Dogwood describes SP16 as a low-density lipoprotein receptor related protein-1 (LRP1) agonist with potential to treat neuropathy and to prevent or repair nerve damage following chemotherapy. ## Financing, results and partnership In January 2026, the company completed a financing of up to $26.9 million to progress Halneuron through Phase 2b development. Gross proceeds of $12.5 million have been received. Dogwood said cash on hand of $13.2 million provides operational runway into the fourth quarter of 2026. Research and development expenses were $2.7 million for the first quarter of 2026, compared with $2.4 million a year earlier. The $0.3 million increase was primarily due to a $0.1 million rise in drug development costs for Halneuron and $0.2 million in higher salaries and related personnel costs. General and administrative expenses were $2.4 million, compared with $2.0 million. The company attributed the $0.4 million increase mainly to $0.5 million in higher salaries and related personnel costs, partly offset by a $0.1 million decrease in franchise fees. Dogwood also announced a worldwide development and commercialization partnership for its legacy antiviral assets, with potential value of up to $100 million to Dogwood and its current and former shareholders. Duncan said the company "executed a global development license for our legacy combination antiviral assets." ## Background Dogwood describes itself as a pre-revenue, development-stage biopharmaceutical company focused on new medicines to treat pain and neuropathy. Its annual report filed March 18, 2026 says the active ingredient in Halneuron is highly purified tetrodotoxin (TTX), a potent sodium channel modulator. The company estimates there are approximately 1.7 million CINP patients in seven major markets, including the US, Japan, the United Kingdom, Germany, Spain, Italy and France. The report states that the FDA has approved no treatments for any type of CINP. In the company's previous Phase 2 study in cancer related pain, 165 patients were enrolled at 19 sites. The release also notes that Dogwood's largest shareholder is a member of CK Life Sciences Int'l. (Holdings) Inc., which is listed on the Hong Kong Stock Exchange under stock code 0775. ## What the release leaves out Only $12.5 million of the financing of up to $26.9 million had been received, and the cash runway reaches only into the fourth quarter of 2026. The Halneuron readout is therefore the company's main near-term test, and the release names no funding beyond that. It also gives no efficacy data from the current Phase 2b trial. The earlier Phase 2 result, 51% of Halneuron patients with at least a 30% pain reduction against 35% on placebo, comes with no p-value in the company's materials. The chief executive's upbeat view of the quarter is the company's own, and the global development license for the antiviral assets carries a headline value of up to $100 million that depends on future payments, with no upfront amount given. The company is pre-revenue. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story DWTX Dogwood Therapeutics, Inc. 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Cite as: aibio.space, "Dogwood reports first quarter 2026 results and SP16 IND approval", 2026-05-14, https://aibio.space/news/dogwood-reports-first-quarter-2026-results-sp16-ind-approval/