Traws Pharma announces chief financial officer transition

Published 03/07/2025, 22:36
Traws Pharma announces chief financial officer transition

Traws Pharma, Inc. (NASDAQ:TRAW), a small-cap biotech company with a market capitalization of $8.12 million, announced Thursday that Nora Brennan has notified the company of her decision to resign from her role as Interim Chief Financial Officer, effective Saturday. According to InvestingPro data, while the company maintains a healthy balance sheet with more cash than debt, it faces profitability challenges with negative EBITDA of $24.89 million in the last twelve months. Brennan’s resignation marks the conclusion of her interim period as outlined in her offer letter dated February 5, 2025. According to the company, Brennan will not receive a severance payment related to her departure and will continue to provide transition services as an independent contractor through July 18.

The board has appointed Charles Parker as Interim Chief Financial Officer, effective upon Brennan’s departure. Parker will serve in the role as a non-employee consultant. Traws Pharma stated that it expects to finalize a consulting agreement with Parker soon, with compensation terms to be disclosed at a later date.

Parker, age 45, is described in the company’s statement as having over two decades of experience in finance roles with publicly traded biopharma companies and private equity organizations. Since May 2025, Parker has served as a Director at Stout, a global advisory firm that has provided finance and accounting services to Traws Pharma since 2024. His prior experience includes consulting roles at LS Associates, where he provided interim chief financial officer services to several companies, and a controller position at Dascena, Inc. He also has experience in public accounting with BDO USA, LLP and Parker, Parker and Associates, PLC.

The company noted there are no arrangements or understandings with other parties regarding Parker’s appointment, nor any family relationships with current directors or executive officers. No related-person transactions requiring disclosure were reported.

This information is based on a statement from Traws Pharma’s filing with the Securities and Exchange Commission.

In other recent news, Traws Pharma, Inc. has made significant strides in advancing its clinical trials for antiviral treatments. The company has submitted regulatory filings for Phase 2 trials of its influenza drug tivoxavir marboxil (TXM) and its COVID-19 treatment candidate ratutrelvir. The FDA has provided guidance on the development of TXM, including potential approval paths for bird flu and seasonal influenza treatments. Traws Pharma is also seeking accelerated approval for TXM for bird flu treatment and is in discussions with BARDA and international agencies to support this effort. Additionally, the company has announced a $50 million stock offering potential through an At The Market Offering Agreement with Citizens JMP Securities, LLC, allowing for flexible capital raising. In leadership changes, Iain Dukes has been appointed as the Interim CEO, with compensation details outlined in a recent SEC filing. These developments underscore Traws Pharma’s commitment to expanding its antiviral portfolio and strategic financial planning.

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