On March 18, 2025, Dogwood Therapeutics, Inc. announced that the first patient was dosed in the Phase 2b HALT-CINP clinical trial of its lead asset, Halneuron . The goal is to recruit 100 patients and perform an interim analysis by the fourth quarter of 2025, which will enable changes to the study, if necessary, to improve trial outcomes. On March 12, 2025, Dogwood announced a debt conversion with its largest shareholder. Under terms of the agreement, the existing $19.5 million loan plus accrued interest was converted into 284.2638 shares of Series A-1 Non-Voting Convertible Preferred Stock. Each share of Series A-1 Preferred Stock is convertible into 10,000 shares of Dogwood's common stock, subject to approval of the company's shareholders. Following the conversion Dogwood has no debt on its balance sheet.
