Dogwood Therapeutics, Inc. (Nasdaq: DWTX) reported financial results for the first quarter ended March 31, 2026, highlighting significant progress in its pipeline of non-opioid pain treatments. The company has enrolled 164 patients in its Phase 2b trial of Halneuron® for chemotherapy-induced neuropathic pain (CINP), with top-line results expected in fall 2026. Additionally, SP16 received FDA clearance to begin a Phase 1b trial for chemotherapy-induced peripheral neuropathy (CIPPN), 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, Chief Executive Officer of Dogwood Therapeutics. “Furthermore, we executed a global development license for our legacy combination antiviral assets.”
Halneuron® is a non-opioid NaV 1.7 inhibitor that has received fast track designation from the FDA for CINP. The ongoing Phase 2b study is evaluating its efficacy in reducing pain associated with chemotherapy. SP16 is a low-density lipoprotein receptor related protein-1 (LRP1) agonist that preclinically demonstrated anti-inflammatory action and potential to repair nerve damage. The Phase 1b trial is expected to begin enrollment in mid-2026.
Financially, the company completed a financing of up to $26.9 million in January 2026, with $12.5 million received to date. Cash on hand as of March 31, 2026, was $13.2 million, providing operational runway into the fourth quarter of 2026. Research and development expenses for Q1 2026 were $2.7 million, up from $2.4 million in Q1 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 period.
The company’s pipeline also includes a global development license for its legacy antiviral assets. Dogwood Therapeutics’ largest shareholder is a member of CK Life Sciences Int’l., (Holdings) Inc., listed on the Hong Kong Stock Exchange. For more information, visit www.dwtx.com.