Traws Pharma raises up to $72.6M; initial $20M tranche to fund Bird Flu drug

Traws Pharma, Inc.

Initial $20M gross proceeds from common stock and pre-funded warrants; net proceeds ~$17.9M.
Up to $52.6M additional from Series A Warrants exercisable after key Bird Flu data readouts (Ferret, NHP, Phase 2a).
Institutional investors: Perceptive Advisors, OrbiMed, Alyeska, Torrey Pines, Ikarian Capital.
Proceeds to accelerate Tivoxavir Marboxil development; cash runway extended into 1H26 (initial) and 3+ years if warrants exercised.
Closing on Dec 31, 2024; Series A Warrants subject to stockholder approval and 9.99% ownership limitation.

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