Dogwood Therapeutics Q4 loss $3.8M; Halneuron Phase 2b >50% enrolled, top-line Q3 2026

Dogwood Therapeutics, Inc.

Net loss Q4 2025 $3.8M ($0.26/share) vs $8.2M ($6.29) in Q4 2024; full year loss $35.5M ($7.13).
Cash $6.5M at Dec 31, 2025; Jan 2026 financing raised $11.4M net to fund through Phase 2b readout.
Halneuron CINP Phase 2b >50% enrolled; interim analysis showed separation from placebo; top-line expected Q3 2026.
R&D expenses FY 2025 $21.8M (up from $3.5M) due to $12.0M SP16 license fee and clinical trial costs.
G&A expenses fell to $6.1M from $8.7M due to lower nonrecurring transaction costs.

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