Dogwood Therapeutics, Inc. (Nasdaq: DWTX) reported its financial results for the first quarter ended March 31, 2026, highlighting significant progress in its pipeline of non-opioid pain treatments. The company is developing Halneuron®, a NaV 1.7 inhibitor for chemotherapy-induced neuropathic pain (CINP), and SP16, an LRP1 agonist for chemotherapy-induced pain and peripheral neuropathy (CIPPN).
“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.”
The company has enrolled 164 patients in its Halneuron® Phase 2b CINP study and expects top-line results in fall 2026. Halneuron® has received fast track designation from the FDA for CINP. SP16 received IND approval from the FDA and will begin enrolling in mid-2026 for CIPPN, fully funded by the National Cancer Institute and conducted at the University of Virginia.
Dogwood completed a financing of up to $26.9 million in January 2026, with gross proceeds of $12.5 million received, to support Halneuron® development. Cash on hand of $13.2 million provides operational runway into the fourth quarter of 2026, the company said.
First quarter financial results showed research and development expenses of $2.7 million, up from $2.4 million in the prior year, driven by increased drug development costs for Halneuron® and personnel costs. General and administrative expenses were $2.4 million, compared to $2.0 million in 2025, primarily due to 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 first quarter of 2025.
The company’s pipeline includes Halneuron®, a non-opioid NaV 1.7 inhibitor shown to reduce pain in clinical studies, and SP16 IV, an LRP1 agonist with potential to prevent or repair nerve damage. SP16 preclinically demonstrated anti-inflammatory action via reductions in IL-6, IL-8, IL1B and TNF-alpha levels, as well as potential to repair damaged tissue.
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.
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