Traws Pharma (TRAW) said late Friday that it has deferred a planned Phase 2 human influenza challenge study of its experimental drug, tivoxavir marboxil, after receiving a negative review from the UK's health agency.

The company said the regulatory feedback affects the timing of the study but does not end development of its influenza program.

he drug developer said the drug could still have potential for use in a bird flu outbreak or for prevention in high-risk populations.

Following the setback, Traws said it is advancing backup influenza drug candidates designed to maintain the long-lasting antiviral profile of tivoxavir marboxil while addressing potential regulatory concerns.

The company added that it has sufficient cash to fund operations through the first quarter of 2027.

Shares of the company were down over 19% in Monday's premarket activity.

Price: 1.03, Change: -0.25, Percent Change: -19.53