Theriva Biologics, Inc. ( (TOVX) ) has released its Q4 earnings. Here is a breakdown of the information Theriva Biologics, Inc. presented to its investors.
Theriva Biologics, Inc. is a clinical-stage company specializing in developing therapeutics for cancer and related diseases, focusing on areas with high unmet medical needs. The company is advancing an innovative oncolytic adenovirus platform designed to enhance cancer treatment efficacy.
Theriva Biologics recently reported its full-year 2024 financial results and operational highlights. The company completed enrollment in the VIRAGE Phase 2b clinical trial of VCN-01 for metastatic pancreatic ductal adenocarcinoma (PDAC) and anticipates topline data in the second quarter of 2025. Additionally, VCN-01 received Fast Track designation from the FDA for PDAC treatment and Rare Pediatric Disease designation for retinoblastoma.
Key financial metrics reveal a decrease in research and development expenses to $12 million from $14.3 million in the previous year, attributed to reduced clinical trial expenses. However, general and administrative expenses rose slightly to $7.4 million. The company reported a net loss of $25.7 million for 2024, compared to a $18.3 million loss in 2023, with cash and cash equivalents totaling $11.6 million, expected to sustain operations into the third quarter of 2025.
Strategic developments include receiving guidance from the FDA and EMA on the Phase 3 trial design for VCN-01 in PDAC, and securing manufacturing funding from the Spanish government for the THERICEL project. The company also achieved positive outcomes in trials for SYN-004, although further development depends on additional funding or partnerships.
Looking ahead, Theriva Biologics is focused on advancing its VCN-01 program, with plans for a Phase 3 trial in PDAC and further development in retinoblastoma. The company remains committed to expanding its manufacturing capabilities and supporting ongoing preclinical and discovery initiatives.