Shares of Dogwood Therapeutics, Inc. (DWTX) jumped 28% on Tuesday morning after the development-stage biopharmaceutical company announced patient dosing in phase 2b trial evaluating halneuron in patients with chemotherapy-induced neuropathy is expected to occur in the first quarter of 2025.
DWTX is currently trading at $2.4200, up $0.5500 or 28.7958%, on a huge volume of 9.2 million shares, above average volume of 50 thousand, on the Nasdaq. The stock opened its trading at $2.5400 after closing Friday at $1.8700. The stock has traded between $1.6200 and $15.7250 in the past 52-week period.
Halneuron is a first-in-class, Nav 1.7 specific voltage-gated sodium channel inhibitor being developed as an alternative to pain treatment with opioids.
Halneuron-treated patients demonstrated a statistically significant reduction in cancer-related pain in a previous Phase 2 clinical trial with an acceptable safety profile. Halneuron has been evaluated in over 700 patients in a series of Phase 1 and Phase 2 studies, with no addiction potential.
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