Dogwood Therapeutics, Inc. (Nasdaq: DWTX) reported financial results for the first quarter ended March 31, 2026, emphasizing significant pipeline advancements for its non-opioid pain and neuropathy treatments. The company 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, the FDA cleared SP16 to proceed into Phase 1b development for chemotherapy-induced pain and peripheral neuropathy (CIPPN), a study fully funded by the National Cancer Institute and 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 of Dogwood Therapeutics. The company also executed a global development license for its legacy combination antiviral assets.
In January 2026, Dogwood completed a financing of up to $26.9 million to advance Halneuron through Phase 2b, with gross proceeds of $12.5 million received. Cash on hand of $13.2 million is expected to provide operational runway into the fourth quarter of 2026.
Halneuron, a non-opioid NaV 1.7 inhibitor, has received fast track designation from the FDA for CINP. SP16, a low-density lipoprotein receptor related protein-1 agonist (LRP1), has shown potential in preclinical studies to reduce inflammatory cytokines and repair damaged tissue. The Phase 1b CIPPN trial is fully funded by the National Cancer Institute.
For the first quarter of 2026, research and development expenses were $2.7 million, up from $2.4 million in the same period of 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 prior-year quarter.
Dogwood Therapeutics is a development-stage biopharmaceutical company focused on first-in-class, non-opioid medicines for pain and neuropathic disorders. For more information, visit www.dwtx.com.
