Financing ·
Dogwood closes $5M private placement to fund Phase 3 prep as Q3 net loss narrows to $4.9M
DWTXDogwood Therapeutics, Inc.
Dogwood Therapeutics closed a $5 million private placement with Sealbond Limited, a subsidiary of CK Life Sciences Int’l., (Holdings) Inc., to advance Phase 3 preparatory activities for its lead candidate Halneuron and for working capital. The company reported a third-quarter net loss attributable to common stockholders of $4.9 million, or $0.14 per share, compared to a $15.7 million loss in the prior-year period. Research and development expenses decreased by $11.2 million year-over-year due to lower acquired in-process research and development costs. Cash on hand combined with the new funding provides an operational runway through the first quarter of 2027. The company is a biopharmaceutical firm developing non-opioid medicines for pain and neuropathy.