Traws Pharma Inc. reported a net loss of $4.0 million, or $0.34 per basic and diluted common share, for the quarter ended September 30, 2025, compared to a net loss of $8.5 million, or $1.49 per share, for the same period in 2024. Revenue for the quarter was zero, down from $57,000 in the prior year period. Research and development expenses totaled $2.3 million, down from $5.1 million, while general and administrative expenses were $1.7 million, compared to $3.5 million in the third quarter of 2024. The company had 8.0 million shares of common stock outstanding as of November 10, 2025. During the period, Traws Pharma acquired intellectual property and other assets associated with a pyrrolidine antiviral compound from Viriom, Inc. for $2.6 million and continued Phase 2 studies for ratutrelvir, an investigational oral protease inhibitor for acute and long COVID, with top-line data expected by year end.