Overview

• US biopharma firm's Q1 revenue was flat

• Net loss for Q1 of $7.1 mln from net income a year earlier

• Company secured up to $60 mln private financing, expected to fund operations into Q1 2027

Outlook

• Company expects current funding to support operations into Q1 2027

• Traws plans to initiate a human influenza challenge trial for TXM in Q2 2026

• Company aims to resolve FDA clinical hold and start global studies by year end

Result Drivers

• R&D SPENDING INCREASE - Higher research and development expenses driven by progress on antiviral clinical trial milestones, including tivoxavir marboxil and hantavirus programs

• LOWER G&A EXPENSES - General and administrative expenses declined due to reduced professional and consulting fees

• WARRANT LIABILITY IMPACT - Change in fair value of warrant liability contributed to swing from net income in Q1 2025 to net loss in Q1 2026

Company press release: ID:nGNX30twHf

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$0	$0 (2 Analysts)
Q1 Net Income		-$7.10 mln

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Traws Pharma Inc is $5.50, about 237.4% above its May 14 closing price of $1.63

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