Dogwood Therapeutics, Inc. (Nasdaq: DWTX) reported financial results for the first quarter ended March 31, 2026, emphasizing significant pipeline advancements for its lead candidates Halneuron® and SP16. The company, focused on developing non-opioid treatments for pain and neuropathy, has enrolled 164 patients in its Phase 2b study of Halneuron® for chemotherapy-induced neuropathic pain (CINP), with top-line results anticipated in fall 2026. Additionally, SP16 received IND approval from the FDA for a Phase 1b trial in chemotherapy-induced peripheral neuropathy (CIPPN), fully funded by the National Cancer Institute and to be conducted at the University of Virginia.
“Dogwood is off to a strong operational start to 2026 driven by significant pipeline progress for both Halneuron®, with Phase 2b data anticipated this fall, and SP16, which received FDA clearance to progress into Phase 1b development this quarter,” said Greg Duncan, CEO. The company also executed a global development license for its legacy combination antiviral assets.
Financially, Dogwood completed a financing of up to $26.9 million in January 2026, with $12.5 million in gross proceeds received. Cash on hand stood at $13.2 million as of March 31, 2026, providing operational runway into the fourth quarter of 2026. Research and development expenses for the first quarter were $2.7 million, up from $2.4 million in the same period in 2025, primarily due to increased drug development costs for Halneuron® and personnel costs. General and administrative expenses rose to $2.4 million from $2.0 million, driven by higher salaries and personnel costs. Net loss attributable to common stockholders was $5.0 million, or $0.15 per share, compared to a net loss of $12.2 million, or $8.45 per share, in the first quarter of 2025.
Halneuron® is a non-opioid, NaV 1.7 inhibitor in Phase 2b development for pain conditions, including CINP, and has received fast track designation from the FDA. SP16 is a low-density lipoprotein receptor related protein-1 agonist (LRP1) with potential to treat neuropathy and repair nerve damage following chemotherapy. The Phase 1b CIPPN trial is fully funded by the National Cancer Institute. For more information, visit www.dwtx.com.
The company’s largest shareholder is a member of CK Life Sciences Int’l., (Holdings) Inc., listed on the Hong Kong Stock Exchange (stock code: 0775). Dogwood will cause any required payments from development and commercialization partnerships to be delivered to holders of contingent value rights issued in October 2024.
