Traws Pharma Inc., a clinical-stage biopharmaceutical company, announced its financial results for the first quarter ended March 31, 2025. The company reported revenue of $57 thousand for the quarter, slightly up from $56 thousand in the same period in 2024. Net income for the first quarter of 2025 was $21.5 million, a significant turnaround from a net loss of $5.0 million in the corresponding quarter the previous year. This change was primarily attributed to a $26.5 million change in the fair value of warrant liability associated with the December 2024 financing. Earnings per share stood at $2.17 per basic common share and $2.09 per diluted common share, compared to a net loss of $5.92 per basic and diluted common share in Q1 2024. Research and development expenses increased to $2.5 million from $1.9 million in Q1 2024, mainly due to higher expenses in virology programs. General and administrative expenses decreased to $2.8 million from $3.4 million, driven largely by a reduction in consulting fees. Traws Pharma also provided updates on its business operations, including the submission of a briefing document to the FDA in April 2025 to discuss the pathway for their product tivoxavir marboxil, and plans to submit a similar document for ratutrelvir in Q2 2025. Additionally, the company announced management changes, with Iain D. Dukes, D. Phil being named Interim CEO following Werner Cautreels' retirement. The company's cash, cash equivalents, and short-term investments totaled approximately $15.9 million as of March 31, 2025, which is expected to support operations into Q1 2026.