Traws Pharma, Inc.
TRAW Healthcare Biotechnology
Traws Pharma, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.8 million, up 1,134.5% from fiscal 2024. In the quarter to June 2026, revenue fell 100.0%, EPS fell 1.78% and free cash flow fell 25.5%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Traws Pharma, Inc. (TRAW) Altman Z-score
Traws Pharma, Inc.'s Altman Z-score for fiscal 2025 is −89.55, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −89.55 | (35.12) |
| FY2024 | −54.43 | (23.20) |
| FY2023 | −31.23 | (14.80) |
| FY2022 | −16.44 | (8.06) |
| FY2021 | −8.38 | 21.61 |
| FY2020 | −30.00 | (4.25) |
| FY2019 | −25.75 | 7.26 |
| FY2018 | −33.01 | 86.48 |
| FY2017 | −119.49 | (96.98) |
| FY2016 | −22.50 | (2.42) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.30) | — | −0.36 | |
| Retained earnings / total assets | (60.28) | — | −84.39 | |
| EBIT / total assets | (1.68) | — | −5.56 | |
| Market value of equity / total liabilities | 0.83 | — | 0.50 | |
| Sales / total assets | 0.26 | — | 0.26 | |
| Altman Z-score | Distress zone | −89.55 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −209.84 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| IMNN Imunon, Inc. compare | −12.5× |
| EVGN Evogene Ltd. compare | −20.5× |
| LEXX Lexaria Bioscience Corp. compare | −23.9× |
| TRAW Traws Pharma, Inc. | −89.5× |
| TCRT Alaunos Therapeutics, Inc. compare | −436× |
| ENVB Enveric Biosciences, Inc. compare | — |
| NRSN NeuroSense Therapeutics Ltd. compare | — |
| ALZN Alzamend Neuro, Inc. compare | — |
| ACXP Acurx Pharmaceuticals, Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets