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Dogwood Therapeutics, Inc. (DWTX) shares surged 50% in the pre-market session on Monday after the company announced that it has secured a license to develop Serpin Pharma’s intravenous formulation of SP16 to manage cancer-related pain (CRP).
The royalty-free, global license will enable the company to develop SP16 for a broad range of chemotherapy-induced neuropathy symptoms as well.
In return, Sepin Pharma and its designated affiliates will get 7.31% of the company’s common stock, on a fully diluted basis. This includes 382,034 shares of DWTX common stock and 179.1878 shares of a new series of non-voting convertible preferred stock, it said.
On Stocktwits, retail sentiment around DWTX stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘extremely high’ levels.
Dogwood said that SP16 has demonstrated both anti-inflammatory and neural repair activity. An early-stage trial of the intravenous formulation of SP16, fully funded by the National Cancer Institute, is slated to start patient enrollment in the first half of 2026.
“The National Cancer Institute’s funding of the SP16 IV Phase 1b program obviates the need to use our existing capital in the near-term to advance SP16 into clinical development,” CEO Greg Duncan said.
The company also noted that SP16 could complement its lead candidate Halneuron, which has demonstrated statistically significant and clinically meaningful pain reductions in general cancer pain, as well as chemotherapy-induced neuropathic pain, respectively.
DWTX stock has more than tripled this year and risen by about 79% over the past 12 months.
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