Traws Pharma (TRAW) investor relations material

Executive summary

• Advanced clinical programs for COVID-19 and influenza antivirals, with reprioritized plans to maximize near-term value and ongoing discussions for pandemic stockpiling.

• Phase 2 studies for Ritutrelvir targeting COVID-19, including Paxlovid-ineligible patients, expected to report results by year-end 2025.

• Deferred initiation of bird flu clinical trial due to low incidence, with regulatory approvals in Australia and South Korea for rapid start if needed.

• Published strong efficacy data for rigosertib in rare oncology indication, seeking partnership for further development.

• Management changes included new interim CEO, CFO, and Chairman appointments during Q2 2025.

Financial highlights

• Q2 2025 revenue was $2.7M, up from $57K in Q2 2024, due to recognition of deferred revenue from a terminated licensing agreement.

• Net loss for Q2 2025 was $0.9M ($0.11 per share), compared to a net loss of $123.1M ($20.52 per share) in Q2 2024, which included a $117.5M non-cash charge.

• Cash, cash equivalents, and short-term investments totaled $13.1M as of 06/30/2025, down from $21.3M at 12/31/2024.

• R&D expenses decreased to $2.3M from $4.0M year-over-year, mainly due to lower oncology and personnel costs.

• G&A expenses fell to $1.7M from $2.0M, reflecting lower personnel and stock-based compensation.

Outlook and guidance

• Results from Phase 2 Ritutrelvir studies anticipated by year-end 2025.

• Focused on advancing Tevoxavir Marboxil for pandemic stockpiling, with trial initiation dependent on bird flu incidence.

• Committed to partnering legacy oncology assets for further development and commercialization.

• Expects significant expenses and operating losses to continue; additional financing required for ongoing trials and operations.

• R&D expenditures in 2025 expected to be higher than 2024 due to virology program investments.