Dogwood Therapeutics, Inc. (Nasdaq: DWTX) reported financial results for the first quarter ended March 31, 2026, emphasizing progress in its pipeline of non-opioid pain treatments. The company announced that its Phase 2b study of Halneuron® for chemotherapy-induced neuropathic pain (CINP) has enrolled 164 patients, with top-line results expected in fall 2026. Additionally, SP16 received FDA clearance to begin a Phase 1b trial for chemotherapy-induced peripheral neuropathy (CIPPN), fully funded by the National Cancer Institute and conducted at the University of Virginia.
Greg Duncan, CEO of Dogwood Therapeutics, stated, 'Dogwood is off to a strong operational start to 2026 driven by significant pipeline progress for both Halneuron®, with Phase 2b data anticipated this fall, and SP16, which received FDA clearance to progress into Phase 1b development this quarter.' The company also executed a global development license for its legacy combination antiviral assets.
Financially, Dogwood completed a financing of up to $26.9 million in January 2026, with gross proceeds of $12.5 million received, extending its cash runway into the fourth quarter of 2026. Cash on hand as of March 31, 2026, was $13.2 million, compared to $6.5 million at December 31, 2025. Research and development expenses for the first quarter were $2.7 million, up from $2.4 million in the same period in 2025, driven by increased drug development costs for Halneuron® and personnel costs. General and administrative expenses rose to $2.4 million from $2.0 million, primarily due to higher salaries and personnel costs. Net loss attributable to common stockholders was $5.0 million, or $0.15 per share, compared to a net loss of $12.2 million, or $8.45 per share, in the first quarter of 2025.
Halneuron® is a non-opioid, NaV 1.7 inhibitor being developed for pain conditions, including CINP, and has received fast track designation from the FDA. SP16 is a low-density lipoprotein receptor related protein-1 agonist (LRP1) with potential to treat neuropathy and prevent nerve damage following chemotherapy. The upcoming Phase 1b trial is fully funded by the National Cancer Institute. More information is available at www.dwtx.com.
