T
Theriva Biologics, Inc.
TOVXCIK 0000894158NYSENon-AcceleratedSmaller ReportingPharmaceutical PreparationsNevadaFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-23.70M
Total Assets
$38.24M
Equity
$15.38M
Shares Out
45.89M
Op. Cash Flow
$-16.67M
Business
Theriva Biologics, Inc. is a diversified clinical-stage biopharmaceutical company developing therapeutics with a strategic focus on oncology, centered on an engineered oncolytic adenovirus platform for systemic and intravitreal delivery. Its principal product candidates include VCN-01 (an oncolytic human adenovirus expressing PH20 hyaluronidase), next-generation VCN-X assets with Albumin Shield technology, and legacy GI/microbiome programs SYN-004 (ribaxamase) and SYN-020 (oral IAP) being considered for out-licensing. The company operates two core programs—oncolytic virotherapy and GI/microbiome therapeutics—and conducts clinical development, collaborations and licensing arrangements. It advances clinical trials and manufacturing through partnerships and CDMOs across the United States, Europe (notably Spain) and other international trial sites.
Summary from filing dated 2025-03-06
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| General and administrative | 15 | 7 | 7 | 10 | 6 | |
| Research and development | 9 | 12 | 14 | 12 | 8 | |
| In-process research and development impairment | 0 | 1 | 0 | — | — | |
| Goodwill impairment | — | 6 | 0 | — | — | |
| Total Operating Costs and Expenses | 24 | 26 | 21 | 22 | 14 | |
| Loss from Operations | −24 | −26 | −21 | −22 | −14 | |
| Foreign currency exchange gain (loss) | 25,000 | −4,000 | 3,000 | −41,000 | 0 | |
| Interest income | 287,000 | 697,000 | 1 | 512,000 | 6,000 | |
| Total Other Income | 312,000 | 693,000 | 1 | 471,000 | 6,000 | |
| Net Loss before income taxes | −24 | −26 | −20 | −21 | −14 | |
| Income tax benefit | — | — | 2 | 1 | 0 | |
| Net Loss | −24 | −26 | −18 | −20 | −14 | |
| Less deemed dividend from warrant inducement | −2 | — | — | — | — | |
| Net Loss Attributable to Common Stockholders | −25 | −26 | −18 | −20 | −23 | |
| Net Loss Per Share - Basic (in dollars per share) | −2.08 | −19.03 | −28.48 | −1.31 | −1.9 | |
| Net Loss Per Share - Dilutive (in dollars per share) | −2.08 | −19.03 | −28.48 | −1.31 | −1.9 | |
| Weighted average number of shares outstanding during the period - Basic (in shares) | 12 | 1 | 644,282 | 15 | 12 | |
| Weighted average number of shares outstanding during the period - Dilutive (in shares) | 12 | 1 | 644,282 | 15 | 12 | |
| Gain (loss) on foreign currency translation | 2 | −1 | 711,000 | −679,000 | 0 | |
| Total comprehensive loss | −22 | −27 | −18 | −20 | −14 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 13 | 12 | 23 | 42 | 50 | |
| Tax credit receivable | 3 | 3 | 2 | — | — | |
| Prepaid expenses and other current assets | 1 | 1 | 2 | 4 | 2 | |
| Total Current Assets | 17 | 16 | 27 | 46 | 53 | |
| Property and equipment, net | 222,000 | 270,000 | 422,000 | 345,000 | 262,000 | |
| Restricted cash | 46,000 | 96,000 | 102,000 | 99,000 | 90,000 | |
| Right of use asset | 803,000 | 1 | 2 | 1 | 1 | |
| In-process research and development | 20 | 17 | 20 | 19 | 18 | |
| Deposits and other assets | 82,000 | 75,000 | 78,000 | 23,000 | 23,000 | |
| Total Assets | 38 | 35 | 55 | 72 | 77 | |
| Accounts payable | 1 | 859,000 | 770,000 | 915,000 | 770,000 | |
| Accrued expenses | 6 | 3 | 3 | 1 | 1 | |
| Accrued employee benefits | 443,000 | 1 | 2 | 1 | 1 | |
| Deferred research and development tax credit-current portion | 2 | 2 | 906,000 | — | — | |
| Loans payable-current | 57,000 | 61,000 | 63,000 | 57,000 | 52,000 | |
| Operating lease liability-current portion | 549,000 | 539,000 | 487,000 | 216,000 | 157,000 | |
| Total Current Liabilities | 10 | 8 | 7 | 7 | 12 | |
| Non-current contingent consideration | 10 | 7 | 6 | 7 | 2 | |
| Loan Payable - non-current | 2 | 92,000 | 162,000 | 221,000 | 202,000 | |
| Non-current deferred research and development tax credit | 815,000 | 762,000 | 906,000 | — | — | |
| Non-current operating lease liability | 352,000 | 873,000 | 1 | 1 | 1 | |
| Total Liabilities | 23 | 16 | 16 | 17 | 18 | |
| Commitments and Contingencies (Note 12) | — | — | — | — | — | |
| Common stock, $0.001 par value; 350,000,000 shares authorized, 35,717,159 issued and 35,688,350 outstanding at December 31, 2025 and 2,811,259 issued and 2,782,449 outstanding at December 31, 2024 | 34,000 | 3,000 | 1,000 | 16,000 | 16,000 | |
| Additional paid-in capital | 374 | 356 | 347 | 344 | 344 | |
| Treasury stock at cost, 28,809 shares at December 31, 2025 and at December 31, 2024 | −288,000 | −288,000 | −288,000 | −288,000 | — | |
| Accumulated other comprehensive income (loss) | 755,000 | −1 | 32,000 | −679,000 | −3 | |
| Accumulated deficit | −359 | −335 | −309 | −291 | −285 | |
| Total Stockholders' Equity | 15 | 19 | 37 | 52 | 56 | |
| Total Liabilities and Stockholders' Equity | 38 | 35 | 55 | 72 | 77 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 654,000 | 671,000 | 552,000 | 475,000 | 416,000 | |
| Change in fair value of contingent consideration | 9 | 699,000 | −660,000 | 2 | 0 | |
| Loss on asset disposal | 1,000 | — | — | — | — | |
| Non - cash lease expense | 522,000 | 452,000 | 388,000 | 183,000 | — | |
| Depreciation | 108,000 | 137,000 | 135,000 | 85,000 | 87,000 | |
| Deferred research and development tax credit | −188,000 | −888,000 | 0 | — | — | |
| Prepaid expenses and other current assets | 456,000 | 912,000 | 1 | −363,000 | 174,000 | |
| Deposits and other assets | — | 1,000 | −54,000 | 0 | — | |
| Accounts payable | 69,000 | 123,000 | −157,000 | −385,000 | −363,000 | |
| Accrued expenses | −2 | 522,000 | 1 | −267,000 | 1 | |
| Accrued employee benefits | −744,000 | −350,000 | 104,000 | 333,000 | 110,000 | |
| Operating lease liability | −562,000 | −482,000 | −422,000 | −124,000 | −216,000 | |
| Net Cash Used In Operating Activities | −17 | −17 | −19 | −19 | −13 | |
| Purchases of property and equipment | −35,000 | −1,000 | −202,000 | −116,000 | −14,000 | |
| Net Cash Used In Investing Activities | −35,000 | −1,000 | −202,000 | −4 | −14,000 | |
| Payment of loans payable | −70,000 | −67,000 | — | — | — | |
| Proceeds from issuance under at - the - market offering, net of issuance cost | 7 | 4 | 2 | 0 | — | |
| Payment of contingent consideration | −1 | — | — | — | — | |
| Proceeds from issuance Common Stock and Warrants offering, net of issuance costs | 7 | 2 | 0 | — | — | |
| Proceeds from warrant inducement | 4 | — | — | — | — | |
| Proceeds from long term debt | 2 | — | — | — | — | |
| Proceeds from issuance of common stock for warrant exercises | 4,000 | — | — | 0 | 8 | |
| Tax credit receivable | 287,000 | — | — | — | — | |
| Net Cash Provided By Financing Activities | 18 | 5 | 625,000 | −2 | 74 | |
| Effects of exchange rate changes on cash and cash equivalents | −92,000 | −132,000 | −33,000 | −32,000 | 0 | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 1 | −12 | −19 | −25 | 61 | |
| Noncash equity issuance costs and deemed dividend | 6 | — | — | — | — |
Filings
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