On November 7, 2024, Dogwood Therapeutics, Inc. (DWTX) announced financial results for the third quarter of 2024 and provided a business update. In October 2024, Dogwood was formed by the business combination of Virios Therapeutics and privately-held Wex Pharmaceuticals, Inc. The new company is focused on the advancement of three assets: Halneuron , for which interim results from a Phase 2b trial for the treatment of chemotherapy-induced neuropathic pain (CINP) are expected in the second half of 2025 IMC-1, which is a Phase 3-ready asset for the treatment of fibromyalgia and IMC-2, which is currently in development to treat Long COVID with results from a Phase 2 trial expected soon. In connection with the combination, the company announced a $19.5 million debt financing that will be disbursed in two tranches: $16.5 million at closing and an additional $3 million in the first quarter of 2025. The financing is expected to fund operations through the end of 2025.
