Traws Pharma (TRAW) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 4, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TRAW SEC filings page.
Traws Pharma (TRAW) reported $2.8M in revenue for fiscal year 2025, up 1134.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development spending and non-operating effects shape reported results more than recurring commercial revenue or operating cash generation.
FY2025's$9.2M net income coexisted with a$17.9M operating loss, so reported profit was not produced by core operations. Operating cash flow was-$18.2M , confirming that the accounting gain did not translate into cash generation.
Development spending dominates the commercial base: R&D of
Solvency and short-term liquidity both weakened: FY2025 liabilities of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Traws Pharma's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Traws Pharma held $3.8M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $18.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Traws Pharma scores 11/100 among other emerging companies.
Traws Pharma had 10M shares outstanding at the end of fiscal year 2025, against 5M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Traws Pharma scores 82/100 among other emerging companies.
Traws Pharma spent $12.1M on research and development in fiscal year 2025, which was 58.8% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Traws Pharma scores 82/100 among other emerging companies.
Traws Pharma reported revenue of $2.8M in fiscal year 2025, against $226K in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Traws Pharma scores 94/100 among other emerging companies.
Traws Pharma's operations used $18.2M of cash in fiscal year 2025, against $29.8M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Traws Pharma scores 44/100 among other emerging companies.
Traws Pharma's cash, cash equivalents and investments came to $3.8M at the end of fiscal year 2025, against $11.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Traws Pharma scores 35/100 among other emerging companies.
Traws Pharma scores -89.59, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($8.5M) relative to total liabilities ($11.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Traws Pharma passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Traws Pharma used $1.98 of operating cash (-$18.2M OCF vs $9.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Traws Pharma's EBITDA was -$3.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 150.9% from the same quarter a year earlier. Against the prior quarter it is up 54.6%.
Traws Pharma reported -$3.1M in net income in Q2 2026. This represents a decrease of 233.8% from the same quarter a year earlier. Against the prior quarter it is up 57.0%.
Traws Pharma earned -$0.16 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 69.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
Traws Pharma held $5.0M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Traws Pharma's ROE was -180.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 169.5 percentage points from the same quarter a year earlier.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Traws Pharma invested $1.1M in research and development in Q2 2026. This represents a decrease of 51.9% from the same quarter a year earlier. Against the prior quarter it is down 77.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
TRAW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | $2.7M+4694.7% | $57K+1.8% | $56K0.0% | $57K0.0% |
| R&D Expenses | $1.1M-51.9% | $4.9M+96.0% | N/A | $2.3M-54.8% | $2.3M-42.2% | $2.5M+31.1% | $1.9M-23.7% | $5.1M+107.8% |
| SG&A Expenses | $3.5M+105.7% | $2.0M-26.1% | N/A | $1.7M-49.9% | $1.7M-14.5% | $2.8M-17.9% | $3.5M+66.8% | $3.5M+29.6% |
| Operating Income | -$3.2M-154.2% | -$6.9M-33.5% | N/A | -$4.1M+52.5% | -$1.2M | -$5.2M+0.2% | N/A | -$8.5M-67.7% |
| EBITDA | -$3.1M-150.9% | -$6.9M-32.7% | N/A | -$4.0M+52.7% | -$1.2M | -$5.2M+0.1% | N/A | -$8.5M-67.9% |
| Net Income | -$3.1M-233.8% | -$7.1M-133.1% | N/A | -$4.0M+53.3% | -$915K | $21.5M+531.3% | N/A | -$8.5M-78.8% |
| EPS (Basic) | -$0.16-45.5% | -$0.53-124.4% | -$0.73-100.8% | -$0.34+77.2% | -$0.11+99.5% | $2.17+136.7% | $95.66+2020.9% | -$1.49+73.6% |
| EPS (Diluted) | -$0.16 | -$0.53 | -$0.71 | -$0.34 | -$0.11+99.5% | $2.09 | $95.66 | -$1.49 |
| Diluted Shares (Avg) | 16M | 11M | N/A | 9M | 6M+474.9% | 7M | N/A | 961,530 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
TRAW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.5M-26.6% | $8.2M-57.2% | $10.6M-57.5% | $12.4M+39.2% | $15.6M-16.4% | $19.1M+4.9% | $25.0M+10.0% | $8.9M-67.0% |
| Current Assets | $9.0M-41.3% | $5.7M-70.0% | $8.0M-68.0% | $9.6M+7.9% | $15.4M-17.7% | $18.9M+3.9% | $25.0M+10.1% | $8.9M-67.0% |
| Cash & Equivalents | $5.0M-61.7% | $3.1M-80.3% | $3.8M-82.1% | $6.4M+18.7% | $13.1M-22.5% | $15.9M-2.8% | $21.3M+3.8% | $5.4M-78.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $9.8M+32.9% | $13.5M+3.1% | $11.2M-80.1% | $7.9M-28.0% | $7.4M-94.1% | $13.1M+7.5% | $56.6M+371.2% | $11.0M-12.4% |
| Current Liabilities | $9.7M+32.4% | $13.2M+27.0% | $11.1M-3.4% | $7.9M-5.5% | $7.4M-25.8% | $10.4M+10.4% | $11.5M+25.1% | $8.3M-13.7% |
| Non-Current Liabilities | $44K+450.0% | $259K-90.3% | $100K-99.8% | $11K-99.6% | $8K-100.0% | $2.7M-2.7% | $45.1M+1514.4% | $2.6M-7.9% |
| Total Equity | $1.7M-79.5% | -$5.3M-188.5% | -$629K+98.0% | $4.5M+323.6% | $8.3M+107.8% | $6.0M-0.2% | -$31.6M-396.4% | -$2.0M-114.0% |
| Retained Earnings | -$650.1M-3.4% | -$647.1M-3.1% | -$640.0M+1.4% | -$632.5M-2.1% | -$628.6M-2.9% | -$627.7M-28.7% | -$649.2M-34.5% | -$619.2M-29.4% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
TRAW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.5M-25.5% | -$2.6M+52.6% | -$2.8M+31.7% | -$4.0M+65.0% | -$6.0M+39.3% | -$5.4M-22.9% | -$4.0M+8.8% | -$11.5M-156.8% |
| Depreciation & Amortization | $44K+4300.0% | $44K+4300.0% | $44K+2100.0% | $15K+650.0% | $1K-75.0% | $1K-75.0% | $2K-50.0% | $2K-60.0% |
| Stock-Based Compensation | $816K+677.1% | $634K+293.8% | N/A | $135K-60.6% | $105K-72.4% | $161K-51.7% | N/A | $343K-4.7% |
| Capital Expenditures | N/A | N/A | $0 | N/A | N/A | N/A | $0 | $0 |
| Free Cash Flow | N/A | N/A | -$2.8M+31.7% | N/A | N/A | N/A | -$4.0M+8.8% | -$11.5M |
| Investing Cash Flow | N/A | N/A | $0 | N/A | N/A | N/A | $0 | $0 |
| Financing Cash Flow | $9.4M+203.4% | $1.9M+14492.3% | $158K-99.2% | -$62K | $3.1M | $13K | $20.0M | $0 |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TRAW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | -45.7% | -9128.1% | N/A | -14975.4% |
| Net Margin | N/A | N/A | N/A | N/A | -33.5% | 37701.8% | N/A | -14868.4% |
| Return on Equity | -180.6%-169.5pp | N/A | N/A | -87.2% | -11.1% | 358.2%+441.0pp | N/A | N/A |
| Return on Assets | -26.6%-20.8pp | -87.1%-199.9pp | N/A | -31.8%+63.0pp | -5.9% | 112.7%+140.2pp | N/A | -94.8%-77.3pp |
| Current Ratio | 0.93-1.2x | 0.43-1.4x | 0.72-1.4x | 1.22+0.2x | 2.09+0.2x | 1.81-0.1x | 2.16-0.3x | 1.07-1.7x |
| Debt-to-Equity | 5.78+4.9x | N/A | N/A | 1.74 | 0.89 | 2.18+0.2x | N/A | N/A |
| Asset Turnover | N/A | N/A | N/A | N/A | 0.17+0.2x | 0.000.0x | 0.000.0x | 0.010.0x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -7214.3% | -20133.3% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$629K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.72), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Traws Pharma TRAW | FY2025 | $2.8M | $9.2M | N/A | $8.5M | 58/100 |
| APOLLOMICS INC APLM | FY2025 | $8.5M | -$10.9M | N/A | $81.1M | 30/100 |
| Adaptimmune Therapeutics Plc ADAP | FY2024 | $178.0M | -$70.8M | -39.8% | $14.6M | 45/100 |
| Leap Therapeutic LPTX | FY2025 | N/A | $5.0M | N/A | $116.1M | — |
| Biomx Inc PHGE | FY2025 | N/A | N/A | N/A | $3.8M | — |
| Phio Pharmaceuticals Corp PHIO | FY2025 | N/A | -$8.7M | N/A | $12.9M | — |
Where Traws Pharma Ranks
Frequently Asked Questions
What is Traws Pharma's annual revenue?
Traws Pharma (TRAW) reported $2.8M in total revenue for fiscal year 2025. This represents a 1134.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Traws Pharma's revenue growing?
Traws Pharma (TRAW) revenue grew by 1134.5% year-over-year, from $226K to $2.8M in fiscal year 2025.
Is Traws Pharma profitable?
Yes, Traws Pharma (TRAW) reported a net income of $9.2M in fiscal year 2025.
What is Traws Pharma's EBITDA?
Traws Pharma (TRAW) had EBITDA of -$17.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Traws Pharma's free cash flow?
Traws Pharma (TRAW) recorded an outflow of $20.8M in free cash flow during fiscal year 2025. This represents a 37.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Traws Pharma's operating cash flow?
Traws Pharma (TRAW) recorded an outflow of $18.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Traws Pharma's total assets?
Traws Pharma (TRAW) had $10.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Traws Pharma's capital expenditures?
Traws Pharma (TRAW) invested $2.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Traws Pharma spend on research and development?
Traws Pharma (TRAW) invested $12.1M in research and development during fiscal year 2025.
What is Traws Pharma's current ratio?
Traws Pharma (TRAW) had a current ratio of 0.72 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Traws Pharma's return on assets (ROA)?
Traws Pharma (TRAW) had a return on assets of 86.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Traws Pharma's P/E ratio?
Traws Pharma (TRAW) trades at 0.9x earnings, its market capitalization divided by net income of $9.2M net income, FY2025. The market capitalization is $8.5M as of Sep 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Traws Pharma's price-to-sales ratio?
Traws Pharma (TRAW) trades at 3.0x sales, its market capitalization divided by revenue of $2.8M revenue, FY2025. The market capitalization is $8.5M as of Sep 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Traws Pharma's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Traws Pharma (TRAW) held $3.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $18.2M over that year. Dividing the one by the other, the reported balance equals about 3 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Traws Pharma's debt-to-equity ratio negative or not reported?
Traws Pharma (TRAW) has negative shareholder equity of -$629K as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Traws Pharma's Altman Z-Score?
Traws Pharma (TRAW) has an Altman Z-Score of -89.59, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Traws Pharma's Piotroski F-Score?
Traws Pharma (TRAW) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Traws Pharma's earnings high quality?
For every $1 of reported earnings, Traws Pharma (TRAW) used $1.98 of operating cash (-$18.2M OCF vs $9.2M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Traws Pharma?
Traws Pharma (TRAW) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.