In This Article:
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Cash: $2 million as of September 30, 2024.
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Strategic Financing: $19.5 million, with $16.5 million received and an additional $3 million expected in February 2025.
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Working Capital: Approximately $23 million, including combined cash of the entities at the time of the business combination.
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Phase Two Study - Cancer Related Pain: Statistically significant pain reduction in a study with 165 patients.
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Phase Two Study - Chemotherapy Induced Neuropathic Pain: 125 patients, higher doses of Hal Neuron showed greater pain reduction.
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Long COVID Proof of Concept Study: 22 patients treated, significant improvement in fatigue and other symptoms compared to 17 matched controls.
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Long COVID Phase Two Study: 45 patients enrolled, results expected shortly.
Release Date: November 07, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Dogwood Therapeutics Inc (NASDAQ:DWTX) announced a strategic business combination with Pharmagest Holding Incorporated, resulting in a significant expansion of their pipeline.
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The company secured a $19.5 million strategic financing, with $16.5 million already received and an additional $3 million expected in February 2025, providing approximately $23 million in working capital.
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The expanded pipeline includes Hal Neuron, a NAV 1.7 modulator, which has shown promising results in reducing cancer-related pain and chemotherapy-induced neuropathic pain.
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Dogwood Therapeutics Inc (NASDAQ:DWTX) has a strong management team with extensive experience in developing and commercializing blockbuster drugs.
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The company is poised to release top-line results from their long COVID phase two study and has a clear path for future development milestones.
Negative Points
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Dogwood Therapeutics Inc (NASDAQ:DWTX) reported a cash balance of only $2 million as of September 30, 2024, prior to the strategic financing.
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The company is reliant on future financing and successful milestone achievements to sustain operations beyond 2025.
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There are no FDA-approved treatments for chemotherapy-induced neuropathic pain, indicating a challenging regulatory pathway.
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The long COVID study results are still pending, and the company faces uncertainty regarding the efficacy of their treatment in this area.
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The company has yet to finalize the design and regulatory approval for the phase two B trial of Hal Neuron, which could delay progress.
Q & A Highlights
Q: Can you discuss the durability of response for Hal Neuron and any dose-response relationship observed? A: (R. Michael Gendreau, Chief Medical Officer) In the cancer-related pain study, the average response duration was 57 days for Hal Neuron compared to 10.5 days for placebo among responders. This was from a single cycle of four days of injections. We observed a dose-response relationship in the chemotherapy-induced neuropathic pain study, with the best results at the highest dose, which we are taking forward into the phase two B study.