Traws Pharma on Tuesday posted a second-quarter loss that came in below analyst estimates, lifting its shares by 4% in pre-market trading.
The biotechnology company reported a loss per share of $0.22, compared with a loss of $0.25 expected by analysts polled by Refinitiv. Revenue totaled $1.2 million, essentially unchanged from the same period last year, though down from $1.5 million in the first quarter.
Traws Pharma attributed the improved loss performance to controlled operating expenses and continued cost discipline. The company did not provide updated guidance for the full year, citing ongoing market uncertainties and regulatory timelines for its lead drug candidate.
Investor reaction was immediate, with shares rising 4% to $12.80 in early trading, extending gains from Monday’s close of $12.30. The stock has gained roughly 12% over the past month, outperforming the broader biotech sector, which is down 2% over the same period.
Analysts at Jefferies maintained a hold rating on the stock, citing valuation concerns despite the earnings beat. The firm set a price target of $14, suggesting limited near-term upside from current levels.
Traws Pharma, which focuses on developing treatments for rare diseases, has faced delays in clinical trials for its most advanced drug, TR-101, due to regulatory feedback. The company expects a resubmission of trial protocols by the end of the year.
