Biotech Values

[DewDiligence]

ONTX reverse-merges with—(private)—Trawsfynydd Therapeutics:

https://www.globenewswire.com/news-release/2024/04/02/2855799/0/en/Onconova-Therapeutics-Inc-and-Trawsfynydd-Therapeutics-Inc-Announce-Business-Combination-to-Form-Traws-Pharma-Inc-a-Best-in-Class-Virology-and-Oncology-Company.html

[Equity in the merged company] represents, on a fully diluted basis, 75.7% for Trawsfynydd, 13.7% for Onconova and 10.6% for new investors with a combined fully diluted equity value of $132 million (excluding transaction fees).

… Trawsfynydd is an antiviral drug development company committed to reducing disease and death among people with respiratory viral diseases including Influenza and COVID-19. Trawsfynydd combines excellence in medicinal chemistry with the tools of AI and machine learning [naturally, LOL], to guide and accelerate the drug development process.

ONTX has effectively been a shell company since its clinical failure four years ago (#msg-157831373). The merged company will be called Traws Pharma and will trade on Nasdaq under the ‘TRAW’ symbol.