Dogwood Therapeutics is a pre-revenue, development-stage biopharmaceutical company focused on developing non-opioid treatments for pain and neuropathy. Dogwood's lead program is Halneuron, a proprietary analgesic based on Tetrodotoxin (TTX), a sodium channel modulator naturally found in puffer fish. Halneuron works by selectively binding to Nav1.7, a sodium channel involved in pain signal transmission, reducing the inflow of sodium ions and dampening pain signals. The primary target indication is chemotherapy-induced neuropathic pain (CINP), a debilitating side effect of cancer treatment for which no FDA-approved treatment currently exists. Dogwood commenced a Phase 2b trial in early 2025, enrolling approximately 240 patients; a December 2025 interim analysis confirmed Halneuron was separating from placebo. If Phase 2b succeeds, Dogwood plans to pursue Phase 3 trials and an FDA NDA submission, targeting a Phase 3 start in 2027. Dogwood's secondary program, SP16, is a synthetic anti-inflammatory peptide targeting chemotherapy-induced peripheral neuropathy through a different mechanism; it is in early Phase 1 development, funded by a National Cancer Institute grant. Dogwood also holds earlier-stage antiviral programs targeting fibromyalgia and Long-COVID, though it is actively seeking external partners for both rather than funding them internally. Dogwood funds operations through equity raises and intends to partner with pharmaceutical companies for commercialization rather than building its own salesforce.