Traws Pharma, Inc. announced that on June 17, 2024, Steven M. Fruchtman informed the board of directors (the Board") of the Company of his intent to resign from his positions of President and Chief Scientific Officer, Oncology. On June 17, 2024, Dr. Fruchtman's attorney provided a letter to the Company's counsel, which indicates that Dr. Fruchtman believes his resignation to be for "good reason" under the terms of his employment agreement and his expectation of severance compensation commensurate therewith and in connection with a change in control. The Board has accepted Dr. Fruchtman's resignation effective immediately but disagrees with the characterization of the events set in the letter and accordingly believes that no severance payments are due to Dr. Fruchtman under the terms of his employment agreement.

Victor Moyo continues as the Company's Chief Medical Officer, Oncology.