DWTX on Nasdaq
Dogwood Therapeutics, Inc.
We are a pre-revenue, development-stage biopharmaceutical company focused on developing new medicines to treat pain and neuropathy.3 From its latest annual report
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Last updated Oct 19, 2026.
Overview
- TickerDWTX on Nasdaq1
- IndustryPharmaceutical Preparations1
- HeadquartersAlpharetta, Georgia1
- Incorporated inDE2
- Business address44 Milton Avenue, Alpharetta, Ga 300092
- Filer categoryNon-accelerated filer, Smaller reporting company2
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We are a pre-revenue, development-stage biopharmaceutical company focused on developing new medicines to treat pain and neuropathy. Following the closing of the Combination described below, we became the sole owner of Pharmagesic (Holdings) Inc. (“Pharmagesic”) and their wholly owned subsidiary, Wex Pharmaceuticals, Inc. (“Wex”), and Wex’s wholly owned subsidiaries, IWT Bio, Inc. (“IWT”), Wex Medical Corporation (“WMC”), and Wex Medical Limited (“WML”).3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Research and development | $21.9M | $3.5M |
| General and administrative expenses | $6.1M | $8.7M |
| Total operating expenses | $28.0M | $12.2M |
| Loss from operations | -$28.0M | -$12.2M |
| Loss on debt conversion with related party | -$6.1M | |
| Loss on fixed asset disposal | -$2.7K | |
| Interest income (expense), net | $96.9K | -$92.2K |
| Exchange loss, net | -$27.9K | -$30.8K |
| Total other expense | -$6.1M | -$123.0K |
| Loss before income taxes | -$34.0M | -$12.4M |
| Deferred income tax (expense) benefit | -$221.1K | $503 |
| Net loss | -$34.3M | -$12.3M |
| Accrual of paid-in-kind dividends on Series A Non-Voting Convertible Preferred Stock | -$1.3M | -$514.1K |
| Net loss attributable to common stockholders | -$35.5M | -$12.9M |
| Net loss per common share, basic (in dollars per share) | -$7.13 | -$12.52 |
| Net loss per common share, diluted (in dollars per share) | -$7.13 | -$12.52 |
| Weighted average number of shares outstanding - basic (in shares) | 5.0M shares | 1.0M shares |
| Weighted average number of shares outstanding - diluted (in shares) | 5.0M shares | 1.0M shares |
| Foreign currency translation adjustment | $3.3M | -$3.9M |
| Comprehensive loss | -$31.0M | -$16.2M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 6 quarters (quarterly), latest first.8
| Period ending | 2025-12-31 | 2024-12-31 | 2024-10-31 | 2024-09-30 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $6.5M | $14.8M | |||
| Prepaid expenses and other current assets | $1.9M | $1.7M | |||
| Total current assets | $8.4M | $16.5M | |||
| Property and equipment, net | $12.8K | $16.8K | |||
| Right-of-use assets | $163.1K | $205.8K | |||
| Prepaid expenses, long-term | $19.0K | $18.1K | |||
| Goodwill | $12.4M | $11.8M | |||
| Intangible assets | $69.0M | $65.7M | |||
| Deferred issuance costs | $159.0K | ||||
| Total assets | $90.2M | $94.3M | |||
| Accounts payable | $760.9K | $1.2M | |||
| Accrued expenses | $2.2M | $1.9M | |||
| Lease liability, current portion | $56.8K | $49.7K | |||
| Total current liabilities | $3.1M | $3.2M | |||
| Debt with related party, net of issuance costs | $15.4M | ||||
| Lease liability, long-term portion | $105.8K | $154.9K | |||
| Deferred tax liability | $12.1M | $11.3M | |||
| Total liabilities | $15.3M | $30.0M | |||
| Series A Non-Voting Convertible Preferred Stock, $0.0001 par value; 2,104 shares authorized and 2,103.1494 shares issued and no shares outstanding at December 31, 2025 and 2,270 shares authorized and 2,213.8044 shares issued and outstanding at December 31, 2024 | $74.4M | ||||
| Common stock, $0.0001 par value; 43,000,000 shares authorized; 29,751,234 and 29,743,516 shares issued and outstanding at December 31, 2025, respectively; and 1,339,896 and 1,332,178 shares issued and outstanding at December 31, 2024, respectively | $3.0K | $133 | |||
| Additional paid-in capital | $183.9M | $67.9M | |||
| Accumulated deficit | -$108.1M | -$73.8M | |||
| Accumulated other comprehensive loss | -$587.0K | -$3.9M | |||
| Stockholders' equity before treasury stock | $75.2M | -$9.8M | |||
| Less: Treasury stock, 7,718 shares of common stock at cost | -$299.1K | -$299.1K | |||
| Total stockholders' equity (deficit) | $74.9M | -$10.1M | $3.8M | ||
| Total liabilities, Series A Non-Voting Convertible Preferred Stock and stockholders' equity (deficit) | $90.2M | $94.3M | |||
| Temporary equity, par value (in dollars per share) | $0.00 | $0.00 | |||
| Temporary equity, shares authorized | 2.1K shares | 2.3K shares | |||
| Temporary equity, shares issued | 2.1K shares | 2.2K shares | |||
| Temporary equity, shares outstanding | 0 shares | 2.2K shares | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |||
| Common stock authorized | 43.0M shares | 43.0M shares | |||
| Common stock issued | 29.8M shares | 1.3M shares | 28.0M shares | ||
| Common stock outstanding | 29.7M shares | 1.3M shares | 27.8M shares | ||
| Preferred stock, par value (in dollars per share) | $0.00 | ||||
| Preferred stock authorized | 2.0M shares | 2.0M shares | |||
| Treasury stock | 7.7K shares | 7.7K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-10-31 | 2024-09-30 | 2023-12-31 | 2020-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | $6.5M | $14.8M | ||||
| Prepaid expenses and other current assets | $1.9M | $1.7M | ||||
| Total current assets | $8.4M | $16.5M | ||||
| Property and equipment, net | $12.8K | $16.8K | ||||
| Right-of-use assets | $163.1K | $205.8K | ||||
| Prepaid expenses, long-term | $19.0K | $18.1K | ||||
| Goodwill | $12.4M | $11.8M | ||||
| Intangible assets | $69.0M | $65.7M | ||||
| Deferred issuance costs | $159.0K | |||||
| Total assets | $90.2M | $94.3M | ||||
| Accounts payable | $760.9K | $1.2M | ||||
| Accrued expenses | $2.2M | $1.9M | ||||
| Lease liability, current portion | $56.8K | $49.7K | ||||
| Total current liabilities | $3.1M | $3.2M | ||||
| Debt with related party, net of issuance costs | $15.4M | |||||
| Lease liability, long-term portion | $105.8K | $154.9K | ||||
| Deferred tax liability | $12.1M | $11.3M | ||||
| Total liabilities | $15.3M | $30.0M | ||||
| Series A Non-Voting Convertible Preferred Stock, $0.0001 par value; 2,104 shares authorized and 2,103.1494 shares issued and no shares outstanding at December 31, 2025 and 2,270 shares authorized and 2,213.8044 shares issued and outstanding at December 31, 2024 | $74.4M | |||||
| Common stock, $0.0001 par value; 43,000,000 shares authorized; 29,751,234 and 29,743,516 shares issued and outstanding at December 31, 2025, respectively; and 1,339,896 and 1,332,178 shares issued and outstanding at December 31, 2024, respectively | $3.0K | $133 | ||||
| Additional paid-in capital | $183.9M | $67.9M | ||||
| Accumulated deficit | -$108.1M | -$73.8M | ||||
| Accumulated other comprehensive loss | -$587.0K | -$3.9M | ||||
| Stockholders' equity before treasury stock | $75.2M | -$9.8M | ||||
| Less: Treasury stock, 7,718 shares of common stock at cost | -$299.1K | -$299.1K | ||||
| Total stockholders' equity (deficit) | $74.9M | -$10.1M | $3.8M | |||
| Total liabilities, Series A Non-Voting Convertible Preferred Stock and stockholders' equity (deficit) | $90.2M | $94.3M | ||||
| Temporary equity, par value (in dollars per share) | $0.00 | $0.00 | ||||
| Temporary equity, shares authorized | 2.1K shares | 2.3K shares | ||||
| Temporary equity, shares issued | 2.1K shares | 2.2K shares | ||||
| Temporary equity, shares outstanding | 0 shares | 2.2K shares | ||||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | |||
| Common stock authorized | 43.0M shares | 43.0M shares | 43.0M shares | |||
| Common stock issued | 29.8M shares | 1.3M shares | 28.0M shares | |||
| Common stock outstanding | 29.7M shares | 1.3M shares | 27.8M shares | |||
| Preferred stock, par value (in dollars per share) | $0.00 | |||||
| Preferred stock authorized | 2.0M shares | 2.0M shares | ||||
| Treasury stock | 7.7K shares | 7.7K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.8
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$34.3M | -$12.3M |
| Loss on foreign exchange | $27.9K | $30.8K |
| Loss on fixed asset disposal | $2.7K | |
| Amortization of loan costs | $52.4K | $58.4K |
| Depreciation | $2.1K | $12.2K |
| Reduction in carrying amount of right-of-use asset | $66.1K | |
| Loss on debt conversion with related party | $6.1M | |
| Acquisition of license for research and development | $11.9M | |
| Non-cash transaction costs | $3.6M | |
| Deferred tax expense (benefit) | $221.1K | -$503 |
| Share-based compensation expense | $355.6K | $476.0K |
| Increase in prepaid expenses and other current assets | -$208.7K | -$498.7K |
| (Decrease) increase in accounts payable | -$532.6K | $219.9K |
| Increase (decrease) in accrued expenses and other liabilities | $608.3K | -$302.4K |
| Net cash used in operating activities | -$15.6M | -$8.8M |
| Cash acquired through the acquisition of Pharmagesic | $3.8M | |
| Net cash provided by investing activities | $3.8M | |
| Proceeds from public offering of common stock, net of offering costs | $4.3M | $1.4M |
| Proceeds from loan with related party, net of fees | $3.0M | $15.3M |
| Payout of fractional shares with reverse stock split | -$351 | |
| Proceeds from issuance of shares on ATM, net of cash fees paid | $86.4K | |
| Cash payment of issuance costs | -$53.8K | |
| Net cash provided by financing activities | $7.3M | $16.7M |
| Net (decrease) increase in cash | -$8.3M | $11.7M |
| Effect of foreign currency translation on cash and cash equivalents | $10.6K | -$144.6K |
| Issuance costs included in accounts payable and accrued expenses | $106.3K | |
| Conversion of debt with related party into Series A-1 Non-Voting Convertible Preferred Stock | $19.5M | |
| Conversion of accrued interest on debt with related party into Series A-1 Non-Voting Convertible Preferred Stock | $426.9K | |
| Conversion of Series A Non-Voting Convertible Preferred Stock from temporary equity to permanent equity | $5.5M | |
| Accrual of paid-in-kind dividends on Series A Non-Voting Convertible Preferred Stock | $1.3M | $514.1K |
| Preferred stock issued in connection with License Agreement | $9.8M | |
| Common stock issued in connection with License Agreement | $2.1M | |
| Conversion of preferred stock into common stock | $110.5M | |
| Preferred stock issued in connection with acquisition of Pharmagesic | $70.4M | |
| Common stock issued in connection with acquisition of Pharmagesic | $893.1K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Dogwood Therapeutics, Inc., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerGregory Scott Duncan Dec 16, 2020 to now11
- Chief financial officerAngela Walsh Jul 1, 2025 to now12
Board members and other officers (11)
- VP of FinanceAngela Walsh Dec 16, 2020 to Feb 28, 202413
- Vice President of OperationsRalph Grosswald Dec 16, 2020 to now14
- Chief Medical OfficerRoger Michael Gendreau Dec 16, 2020 to now15
- Board memberKean Meng Melvin Toh Oct 17, 2024 to Oct 17, 202416
- Board memberYing Choi Alan Abel Yu Oct 17, 2024 to Oct 17, 202417
- Board memberDavid R. Keefer Dec 16, 2020 to now18
- Board memberGregory Scott Duncan Dec 16, 2020 to now11
- Board memberJohn C. Thomas Dec 16, 2020 to now19
- Board memberRichard James Whitley Dec 16, 2020 to now20
- Board memberWilliam Pridgen Dec 16, 2020 to Feb 28, 202421
- Board memberRichard Alan Burch Dec 17, 2020 to Feb 28, 202422
Former names
Timeline
- Dec 16, 2020New chief executive Gregory Scott Duncan becomes CEO11
Filings
240 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 66 major events, 81 insider forms, 24 large holders, 48 other. The latest 20:
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 13, 20268-K EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20268-K EDGAR
- May 15, 2026SCHEDULE 13G EDGAR
- May 15, 202610-Q EDGAR
- May 14, 20268-K EDGAR
- Apr 27, 2026ARS EDGAR
- Apr 27, 2026DEF 14A EDGAR
- Apr 17, 2026PRE 14A EDGAR
- Mar 26, 20268-K EDGAR
- Mar 18, 202610-K EDGAR
- Mar 18, 20268-K EDGAR
- Mar 12, 20268-K EDGAR
- Mar 6, 20264 EDGAR
- Mar 6, 20264 EDGAR
The 240 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
19 open-market trades by officers, directors and large owners since October 2021: 18 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 21, 2023 | Pridgen WilliamDirector | Buy | 15,335 | $1.30 | $19.9K | Form 4 |
| Aug 17, 2023 | Duncan Gregory ScottCHIEF EXECUTIVE OFFICER | Buy | 25,000 | $1.25 | $31.2K | Form 4 |
| Dec 8, 2022 | Whitley Richard JamesDirector | Sale | 1,800 | $0.26 | $468 | Form 4 |
| May 23, 2022 | Walsh AngelaChief Financial Officer | Buy | 2,000 | $4.58 | $9.2K | Form 4 |
| May 23, 2022 | Duncan Gregory ScottCHIEF EXECUTIVE OFFICER | Buy | 7,500 | $4.52 | $33.9K | Form 4 |
| May 18, 2022 | Whitley Richard JamesDirector | Buy | 500 | $4.53 | $2.3K | Form 4 |
| May 18, 2022 | Pridgen WilliamDirector | Buy | 241 | $4.50 | $1.1K | Form 4 |
| May 17, 2022 | Pridgen WilliamDirector | Buy | 13,450 | $4.38 | $58.9K | Form 4 |
| Mar 29, 2022 | Pridgen WilliamDirector | Buy | 600 | $4.94 | $3.0K | Form 4 |
| Mar 23, 2022 | Pridgen WilliamDirector | Buy | 2,197 | $5.46 | $12.0K | Form 4 |
| Jan 27, 2022 | Pridgen WilliamDirector | Buy | 4,180 | $5.98 | $25.0K | Form 4 |
| Jan 7, 2022 | De La Rosa AbelDirector | Buy | 4,000 | $5.90 | $23.6K | Form 4 |
| Jan 6, 2022 | Whitley Richard JamesDirector | Buy | 1,800 | $5.72 | $10.3K | Form 4 |
| Jan 4, 2022 | Keefer David RDirector | Buy | 5,000 | $5.80 | $29.0K | Form 4 |
| Jan 4, 2022 | Thomas John CDirector | Buy | 1,000 | $5.65 | $5.7K | Form 4 |
| Jan 3, 2022 | Pridgen WilliamDirector | Buy | 2,215 | $5.43 | $12.0K | Form 4 |
| Dec 23, 2021 | Whitley Richard JamesDirector | Buy | 200 | $5.73 | $1.1K | Form 4 |
| Dec 21, 2021 | Pridgen WilliamDirector | Buy | 8,827 | $5.66 | $50.0K | Form 4 |
| Dec 21, 2021 | Duncan Gregory ScottCHIEF EXECUTIVE OFFICER | Buy | 5,000 | $5.52 | $27.6K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ARMISTICE CAPITAL, LLCSCHEDULE 13G/A, 2 filings May 15, 2026 to Aug 14, 202623
- Sealbond LtdSCHEDULE 13D/A, 3 filings Oct 15, 2024 to Nov 25, 202524
- Orca Capital AGSCHEDULE 13G/A, 2 filings Mar 17, 202525
- Brian David CordaySC 13G/A, 7 filings Dec 21, 2022 to Feb 13, 202426
- MASTERS CAPITAL MANAGEMENT LLCSC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202327
- Gregory Scott DuncanSC 13G/A, 2 filings Feb 14, 2022 to Feb 13, 202328
- Ionic Ventures, LLCSC 13G/A, 2 filings Sep 21, 2022 to Feb 13, 202329
- Richard Alan BurchSC 13G/A, 2 filings Feb 14, 2022 to Feb 13, 202330
- William PridgenSC 13G/A, 2 filings Feb 14, 2022 to Feb 13, 202331
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Armistice Capital, LLC | 3,132,486 | $5.0M | 0.1% | −147,514 |
| Millennium Management LLC | 341,814 | $550.3K | 0.0% | New |
| Vanguard Capital Management LLC | 132,154 | $212.8K | 0.0% | No change |
| Geode Capital Management, LLC | 88,298 | $142.2K | 0.0% | +8,864 |
| Vanguard Fiduciary Trust Co | 62,736 | $101.0K | 0.0% | No change |
| BlackRock, Inc. | 28,546 | $46.0K | 0.0% | +28,516 |
| Northern Trust Corp | 23,779 | $38.3K | 0.0% | No change |
| Citadel Advisors LLC | 11,742 | $18.9K | 0.0% | New |
| Tower Research Capital LLC (TRC) | 3,093 | $5.0K | 0.0% | −4,974 |
| Morgan Stanley | 2,222 | $3.6K | 0.0% | New |
| UBS Group AG | 1,860 | $3.0K | 0.0% | −5,225 |
| Jones Financial Companies Lllp | 160 | $264 | 0.0% | New |
| Barclays PLC | 157 | $253 | 0.0% | New |
| Activest Wealth Management | 120 | $193 | 0.0% | No change |
| Group One Trading LLC | 9 | $14 | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 13SEC EDGARAngela Walsh, VP of Finance
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- 16SEC EDGARKean Meng Melvin Toh, Board member
- 17SEC EDGARYing Choi Alan Abel Yu, Board member
- 18SEC EDGARDavid R. Keefer, Board member
- 19SEC EDGARJohn C. Thomas, Board member
- 20SEC EDGARRichard James Whitley, Board member
- 21SEC EDGARWilliam Pridgen, Board member
- 22SEC EDGARRichard Alan Burch, Board member
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