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ATLANTA - Dogwood Therapeutics, Inc. (NASDAQ:DWTX), a $9.45 million market cap biotechnology company with a strong financial position and more cash than debt on its balance sheet, announced Thursday it has enrolled the first 50 patients in its ongoing Phase 2b trial evaluating Halneuron for chemotherapy-induced neuropathic pain (CINP), keeping the company on schedule for an interim data analysis in the fourth quarter of 2025. According to InvestingPro data, the company maintains a healthy current ratio of 7.43, indicating robust short-term liquidity.
The clinical trial, known as HALT-CINP, is testing Halneuron against placebo in cancer patients with established neuropathy resulting from platinum or taxane-based chemotherapy regimens. Participants receive eight subcutaneous doses over 14 days and are monitored for 28 days to assess safety and effectiveness. While the stock has experienced significant volatility, with a 55.72% decline over the past six months, it has shown remarkable recovery with a 91% gain year-to-date.
According to the company’s press release, the trial has shown a low discontinuation rate of 6% due to adverse events among the first 35 patients who completed the study, suggesting the treatment has been generally well tolerated.
The primary endpoints include safety assessment and change from baseline in weekly average daily pain intensity over four weeks of treatment. Secondary measures will evaluate effects on sleep, fatigue, and overall patient health.
Halneuron is a non-opioid Nav 1.7 sodium channel inhibitor that has received Fast Track designation from the FDA for CINP treatment. The company plans to use interim data from approximately 100 patients to determine the final sample size for the Phase 2b trial.
"We continue to add qualified research sites to our study with the goal to deliver full results from the Phase 2b trial in mid-2026," said Michael Gendreau, Chief Medical Officer of Dogwood Therapeutics, in the statement.
The company expects the study to be conducted across 25 sites in the United States. Analyst price targets for DWTX range from $10 to $30, reflecting optimism about the company’s potential despite current unprofitability. For deeper insights into DWTX’s financial health and growth prospects, including additional ProTips and comprehensive analysis, check out the detailed research report available on InvestingPro.
In other recent news, Dogwood Therapeutics has announced an increase in the base salary of its Chief Financial Officer, Angela Walsh. Effective immediately, her annual salary has been raised from $279,916 to $321,903. This adjustment was made following a review of similar positions at peer companies. Additionally, Dogwood Therapeutics’ shareholders have approved an amendment to the company’s Amended and Restated 2020 Equity Incentive Plan. The amendment increases the number of shares of common stock reserved for issuance under the plan by 108,612 shares, bringing the total to 191,112 shares. This decision was made at the company’s annual meeting, where 921,595 shares, representing 48.22% of the company’s voting power, were present.
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