DWTX (Dogwood Therapeutics Inc.) stock: $1.28, $48.9M market cap, $5.0M cash, $43.9M EV, $52.1M fully diluted market cap. Next expected readout: Dec-26. Lead program: Halneuron (Chemotherapy Induced Neuropathic Pain), Phase 2. Data from Fully Diluted's biotech stocks database.
What they do
Our Company We are a pre-revenue, development-stage biopharmaceutical company focused on developing new medicines to treat pain and neuropathy. Following the closing of the Combination described below, we became the sole owner of Pharmagesic (Holdings) Inc. (“Pharmagesic”) and their wholly owned subsidiary, Wex Pharmaceuticals, Inc.
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Status note Phase 2b HAL-CINP-203 ongoing for CINP; FDA Fast Track designation for CINP. Company developing synthetically manufactured TTX for Phase 3 (2027) with FDA engagement planned 2H 2026. Potential expansion into non-neuropathic cancer pain and acute post-surgical pain. Going-concern warning: cash funds operations only into Q4 2026.
SP16
Preclinical · ActiveModality: peptide (17 amino acid, IV formulation)
Target LRP1
Partnerships Serpin Pharma Inc./Rejuvenation Labs: royalty-free global license (equity consideration; expensed as acquired IPR&D)
Status note First-in-class LRP1 agonist. FDA accepted IND for IV SP16 for CINP; Phase 1b safety evaluation in cancer patients funded by an NCI grant (no expense to company), recruitment/dosing expected 2H 2026.
IMC-1
Stage not disclosed · ActiveModality: small molecule (fixed-dose combination of a nucleoside analog and celecoxib)
Partnerships PRIDCor Therapeutics: exclusive global license; PRIDCor funds all development (tiered royalties up to 15%, 10% of Series A, 9% of future raises, payments capped at $100M; $100,000 first payment received July 2026)
Indications
Fibromyalgia(Stage not disclosed)
Status note Partnered out-licensed program; company has no further R&D or marketing obligations. Proceeds above $100K subject to CVR pass-through (87.75% to CVR holders).
IMC-2
Stage not disclosed · ActiveModality: small molecule (combination of valacyclovir and celecoxib)
Partnerships PRIDCor Therapeutics: exclusive global license (same terms as IMC-1)
Indications
Long-COVID(Stage not disclosed)
Status note Partnered out-licensed program; company has no further R&D or marketing obligations.
Per-asset detail extracted from the 10-Q filed 2026-08-14. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.