Dogwood Therapeutics, Inc. Regains Nasdaq Compliance
Rhea-AI Summary
Dogwood Therapeutics, Inc. (Nasdaq: DWTX) announced it believes it has regained compliance with Nasdaq's minimum stockholders’ equity requirement, as per Listing Rule 5550(b)(1). The company, focused on developing medicines for pain and fatigue-related disorders, has a strong cash position of $17.5 million with no debt as of Q1 end. On November 15, 2024, DWTX was notified it fell below the $2.5 million minimum equity requirement. A compliance plan was submitted on December 27, 2024, and Nasdaq granted an extension until May 14, 2025. Key transactions include a Debt Exchange and Cancellation Agreement with Conjoint, Inc., converting $19.9 million in debt to Series A-1 Non-Voting Convertible Preferred Stock, and a stock purchase agreement raising $4.8 million from institutional investors. As of March 31, 2025, DWTX had 1,911,128 shares of common stock outstanding.
Positive
- Regained Nasdaq compliance with minimum stockholders’ equity requirement.
- Strong cash position of $17.5 million with no debt.
- Raised $4.8 million through stock purchase agreement.
Negative
- Previously fell below the $2.5 million minimum stockholders’ equity requirement.
News Market Reaction
On the day this news was published, DWTX gained 3.21%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
ATLANTA, April 03, 2025 (GLOBE NEWSWIRE) -- Dogwood Therapeutics, Inc. (Nasdaq: DWTX) (the “Company”), a development-stage biopharmaceutical company focused on developing new medicines to treat pain and fatigue-related disorders today announced it believes it has regained compliance with the minimum stockholders’ equity requirement as set forth in Nasdaq Listing Rule 5550(b)(1).
DWTX Chairman and CEO Greg Duncan stated, “We appreciate the consideration Nasdaq has shown Dogwood Therapeutics, Inc.” He continued, “The Company has a strong cash position of
As previously disclosed, the Company received a letter on November 15, 2024 notifying the Company that its amount of stockholders’ equity had fallen below the
The Company has completed the following transactions and, as a result of these transactions, the Company believes its stockholders’ equity is above the
As previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities Exchange Commission (“SEC”) on March 12, 2025, on March 12, 2025, the Company entered into a Debt Exchange and Cancellation Agreement with Conjoint, Inc. (“Conjoint”) pursuant to which the Company issued shares of the Company’s Series A-1 Non-Voting Convertible Preferred Stock, par value
As of March 31, 2025, there were 1,911,128 shares of the Company’s common stock, par value
About Dogwood Therapeutics
Dogwood Therapeutics (Nasdaq: DWTX) is a development-stage biopharmaceutical company focused on developing new medicines to treat pain and fatigue-related disorders. The Dogwood research pipeline includes two separate mechanistic platforms with a non-opioid analgesic program and an antiviral program. The proprietary, non-opioid, NaV 1.7 analgesic program is centered on our lead development candidate, Halneuron®, which is a highly specific voltage-gated sodium channel modulator, a mechanism known to be effective for reducing pain transmission. In clinical studies, Halneuron® treatment has demonstrated pain reduction in pain related to general cancer and in pain related to chronic chemotherapy-induced neuropathic pain (“CINP”). Interim data from the ongoing Halneuron® Phase 2 CINP study are expected in Q4 of 2025.
Dogwood’s antiviral program includes IMC-1 and IMC-2, which are novel, proprietary, fixed-dose combinations of anti-herpes antivirals and the anti-inflammatory agent celecoxib. These combination antiviral approaches are being applied to the treatment of illnesses believed to be related to reactivation of previously dormant herpesviruses, including fibromyalgia (“FM”) and Long-COVID (“LC”). IMC-1 is poised to progress into Phase 3 development as a treatment for FM and is the focus of external partnership activities. IMC-2 has been assessed in both active control and double-blind, placebo-controlled clinical trials and, in both cases, demonstrated successful reduction of the fatigue associated with LC. The company has reached an agreement with FDA on using reduction in fatigue as the primary endpoint for future LC research and is currently planning to advance IMC-2 into Phase 2b research.
For more information, please visit www.dwtx.com.
Forward-Looking Statements:
Statements in this press release contain “forward-looking statements,” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” "will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Dogwood’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the completion, timing and results of current and future clinical studies relating to Dogwood’s product candidates. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2024, which has been filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Dogwood undertakes no duty to update such information except as required under applicable law.
Investor Relations:
CORE IR
(516) 222-2560
IR@dwtx.com
FAQ
What does the DWTX buyback mean for shareholders?
How did Dogwood Therapeutics regain Nasdaq compliance?
What is Dogwood Therapeutics' current cash position?
How many shares of common stock does Dogwood Therapeutics have outstanding?
What was the Nasdaq compliance deadline for Dogwood Therapeutics?
