Dogwood Announces $5 Million Private Placement with CK Life Sciences Int’l., (Holdings) Inc.

- Largest Shareholder Increases Position as Dogwood Advances Halneuron^® Toward Topline Phase 2b Data Readout in November 2026 -

- Expected Proceeds from the Investment Enable Acceleration of Phase 3 Preparatory Activities -

ATLANTA, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Dogwood Therapeutics, Inc. (Nasdaq: DWTX) (“Dogwood” or the “Company”), a company that focuses on developing first-in-class, new non-opioid medicines to treat pain and neuropathy, today announced that the Company has entered into a securities subscription agreement (the “Subscription Agreement”) for a $5 million investment from the Company’s largest shareholder, a subsidiary of CK Life Sciences Int’l., (Holdings) Inc. (“CKLS”). The investment comes as Dogwood continues to advance its ongoing Halneuron^® Phase 2b Chemotherapy Induced Neuropathic Pain (“CINP”) trial toward topline data readout in November 2026. Proceeds from this investment will enable the advancement of Phase 3 preparatory activities and extend operational runway through March 2027.

Pursuant to the terms of the Subscription Agreement, Dogwood will issue an aggregate of 4,098,360 shares of Common Stock at a price of $1.22 per share. The private placement is being priced at-the-market under the rules of The Nasdaq Stock Market. No warrants or other derivative securities are included in the transaction. The private placement is expected to close on or prior to October 29, 2026. The Company currently expects to use the net proceeds from the private placement to fund Phase 3 preparatory activities for Halneuron^® and for working capital and general corporate purposes.

“This investment by CK Life Sciences reflects their confidence in the potential of Halneuron^® and our HAL-CINP Phase 2b program,” said Greg Duncan, Chief Executive Officer of Dogwood Therapeutics. “Upon closing, these proceeds are expected to extend our runway through March 2027, by which time we expect to finalize a pivotal Phase 3 program design for Halneuron^® in CINP. We look forward to reporting topline data from the HAL-CINP trial in the coming weeks and value CK Life Sciences’ deepening commitment to Dogwood and Halneuron^®.”

Halneuron^® CINP Phase 2b Trial (“HAL-CINP”) Overview (NCT06848348)

HAL-CINP is a randomized, phase 2b clinical trial evaluating the efficacy and safety of Halneuron^® compared with placebo in 239 patients with moderate to severe neuropathic pain caused by prior platinum and/or taxane-based chemotherapy. Participants received 8 subcutaneous doses of Halneuron^® or placebo over a 14-day period and are followed for a total of 28 days for safety and efficacy. The primary endpoint for this study is the change from baseline to week four in the weekly average of daily 24-hour recall pain intensity scores. The study is being conducted at approximately 25 sites in the U.S. Secondary measures will assess Halneuron’s^® treatment effects on sleep, fatigue, neuropathy symptoms and overall patient health.

The shares of Common Stock described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder, and have not been registered under the Securities Act or applicable state securities laws. Accordingly, the shares may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About CKLS

CKLS is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 0775). Bearing the mission of improving the quality of life, CKLS is engaged in the business of research and development, manufacturing, commercialization, marketing, sale of, and investment in products and assets which fall into three core categories – nutraceuticals, pharmaceuticals & diagnostics, and agriculture-related. CKLS is a member of the CK Hutchison Group.

About Dogwood Therapeutics

Dogwood Therapeutics (Nasdaq: DWTX) is a development-stage biopharmaceutical company focused on developing first-in-class, non-opioid medicines to treat pain and neuropathic disorders. The Dogwood research pipeline includes two first-in-class development candidates, Halneuron^® and SP16 IV.

Our lead product candidate, Halneuron^®, is in Phase 2b development to treat pain conditions including the neuropathic pain associated with chemotherapy treatment. Halneuron^® has been granted fast track designation from the FDA for the treatment of chemotherapy-induced neuropathic pain (“CINP”). Halneuron^® is a non-opioid, Na_V 1.7 analgesic which is a highly specific voltage-gated sodium channel modulator, a mechanism known to be effective for reducing pain transmission. In clinical studies, Halneuron^® treatment has demonstrated pain reduction in pain related to general cancer and in pain related to chronic CINP. SP16 IV is a low-density lipoprotein receptor-related protein-1 agonist (“LRP1”) with potential to treat neuropathy and prevent or repair nerve damage following chemotherapy. SP16’s activity as an LRP1 agonist in turn provides alpha-1-antitrypsin-like activity. Consistent with alpha-1-antitrypsin anti-inflammatory and immunomodulatory actions, SP16 preclinically demonstrated anti-inflammatory (analgesic) action via potential reductions in IL-6, IL-8, IL1B and TNF-alpha levels, as well as potential to repair damaged tissue via increases in pAKT and pERK that regulate fundamental processes like growth, proliferation and survival. The forthcoming SP16 IV Phase 1b CIPN trial is fully funded by the National Cancer Institute.

For more information, please visit www.dwtx.com.

Forward-Looking Statements:

Statements in this press release contain “forward-looking statements,” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” "will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Dogwood’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the satisfaction of customary closing conditions related to the private placement and the Company’s ability to complete the private placement on the anticipated timeline or at all; the anticipated use of proceeds from the private placement; the completion, timing, enrollment, design and results of current and future clinical studies relating to Dogwood’s product candidates; whether interim or final clinical data will support continued development, regulatory submissions or approval; and Dogwood’s ability to finance its operations. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the most recently filed Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Dogwood undertakes no duty to update such information except as required under applicable law.

Investor Relations:

Dan Ferry
Managing Director
LifeSci Advisors, LLC
daniel@lifesciadvisors.com