10-Q · May 15, 2026
Traws Pharma's Q4 2026 results showed no revenue, resulting in a net loss of $7.1 million compared to a net income of $21.5 million in Q4 2025. Operating expenses increased primarily due to higher R&D costs related to…
Earnings analysis · 10-Q
TRAW earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
Traws reported $0 of Q2 2026 revenue and diluted EPS of negative $0.16, with no segment, margin, cash-flow, or balance-sheet figures available in the provided filing extract. Management maintained its MHRA resubmission…
Read full summary
Traws reported $0 of Q2 2026 revenue and diluted EPS of negative $0.16, with no segment, margin, cash-flow, or balance-sheet figures available in the provided filing extract. Management maintained its MHRA resubmission target for the end of Q3 2026 and FDA clinical-hold resolution target for the end of 2026. The newly disclosed Nasdaq deficiencies—including a bid price below $1.00 for at least 30 consecutive business days and potential exposure to a $5 million MVLS requirement—materially increase financing and delisting risk.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.16
What stood out
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Zero Revenue; Diluted EPS Loss
Q2 2026 revenue was $0 and diluted EPS was negative $0.16, confirming the company remains pre-commercial.
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MHRA Resubmission Target Maintained
Management maintained its target to resubmit the revised toxicology package to the MHRA by the end of Q3 2026.
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FDA Hold Resolution Target
The company continues to target resolution of the FDA clinical hold by the end of 2026.
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Disclosure Controls Effective
Management concluded that disclosure controls and procedures were effective as of June 30, 2026.
What to watch
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Nasdaq Minimum-Bid Deficiency
On July 29, 2026, Nasdaq notified the company that its closing bid price had remained below $1.00 for at least 30 consecutive business days. The company has until January 25, 2027 to regain compliance, subject to potential extensions.
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Potential $5 Million MVLS Rule
A potential Nasdaq continued-listing rule would require minimum market value of listed securities of $5 million; if effective, companies below that level for 30 consecutive business days could face immediate suspension and delisting without a cure period.
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Delisting and Reverse-Split Risk
The company states that failure to regain compliance could lead to delisting, reducing liquidity and making it more difficult to raise capital. A reverse stock split may be required, but the filing states it may not maintain a share price above the $1.00 requirement.
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Pre-Revenue Funding Dependence
The company reported $0 of Q2 2026 revenue and a diluted EPS loss of $0.16, leaving future funding dependent on capital markets and successful regulatory progress.
Management's outlook
No quantitative revenue or EPS guidance was provided. Management maintained its outlook to resubmit the revised toxicology package to the MHRA by the end of Q3 2026 and to resolve the FDA clinical hold by the end of 2026.
Earlier filings 4
10-K · April 30, 2026
Traws Pharma reported disappointing financial results with an EPS of -$0.71, missing estimates of -$0.69, and did not report revenue for Q4 2025. The company successfully raised approximately $10 million from a private…
10-K · April 15, 2026
Traws Pharma is a clinical-stage biopharmaceutical company focused on respiratory viral diseases and oncology with four clinical programs (tivoxavir marboxil, ratutrelvir, narazaciclib and rigosertib). The company…
10-Q · November 13, 2025
Traws Pharma reported a third-quarter net loss of $3,962,000 (‑$0.34 per share) versus a loss of $8,475,000 (‑$1.49) in Q3 2024, driven by lower operating expenses but with revenue effectively $0 for the quarter (prior…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.