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ATLANTA - Dogwood Therapeutics, Inc. (NASDAQ:DWTX), a clinical-stage biotech company with a market capitalization of $10.55 million, has secured a royalty-free global license for Serpin Pharma’s SP16, a first-in-class LRP1 agonist aimed at treating chemotherapy-induced peripheral neuropathy (CIPN) and cancer-related pain, the company announced Monday. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 7.8x, indicating robust short-term financial stability.
The all-stock transaction gives Dogwood rights to develop the intravenous formulation of SP16, which has demonstrated both anti-inflammatory and neural repair properties in preclinical research. The National Cancer Institute has fully funded a forthcoming Phase 1b CIPN study, with patient enrollment projected to begin in the first half of 2026.
Under the agreement, Serpin Pharma will receive approximately 382,034 shares of DWTX common stock and 179.1878 shares of a new series of non-voting convertible preferred stock, representing 7.31% of Dogwood’s common stock on a fully diluted basis. The stock, currently trading at $5.52, has demonstrated remarkable momentum with a year-to-date return of 121.69%. InvestingPro analysis suggests the stock is fairly valued based on its proprietary Fair Value model, which considers multiple financial metrics and market factors.
SP16 mimics the activity of alpha-1-antitrypsin’s anti-inflammatory and immunomodulatory actions. The compound could potentially complement Dogwood’s lead candidate Halneuron, a NaV1.7 sodium channel inhibitor currently in Phase 2b development for chemotherapy-induced neuropathic pain.
"The SP16 in-license aligns with our strategic objective of expanding our research pipeline in an area where Dogwood’s pain and neuropathy management research expertise can add value," said Greg Duncan, Dogwood Therapeutics Chief Executive Officer, according to the press release.
Mike Gendreau, Dogwood’s Chief Medical Officer, noted the company intends to explore SP16’s potential both as a treatment for CIPN symptoms and for its ability to help repair nerve function damaged by chemotherapy.
Halneuron has previously demonstrated statistically significant pain reductions in general cancer pain and chemotherapy-induced neuropathic pain studies. The FDA has granted fast-track designation for Halneuron in CIPN treatment, with interim data from its ongoing Phase 2b study expected in December 2025. While analyst price targets range from $10 to $30, suggesting significant upside potential, InvestingPro subscribers can access 8 additional exclusive insights about DWTX’s financial health and growth prospects through the comprehensive Pro Research Report, available for over 1,400 US stocks.
In other recent news, Dogwood Therapeutics has made significant progress in its ongoing clinical trial for Halneuron, a treatment for chemotherapy-induced neuropathic pain. The company announced it has enrolled the first 50 patients in the Phase 2b HALT-CINP trial, with an interim data analysis scheduled for the fourth quarter of 2025. This trial is evaluating the safety and effectiveness of Halneuron against a placebo in cancer patients with neuropathy from platinum or taxane-based chemotherapy regimens. In addition to clinical advancements, Dogwood Therapeutics has adjusted the compensation of its Chief Financial Officer, Angela Walsh. Her annual base salary has been increased from $279,916 to $321,903, following a review of salary levels for similar roles at peer companies. This adjustment was approved by the company’s board of directors and reflects the company’s commitment to aligning executive compensation with industry standards. These developments highlight Dogwood Therapeutics’ focus on both clinical progress and organizational management.
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