Theriva Biologics Q3 net loss narrows on lower R&D costs
TOVX•TOVX•TOVX•TOVX•Theriva Biologics reported a third-quarter net loss of $1.47 million, with research and development expenses down 76%. It ended the quarter with $8.5 million in cash and expects its runway to extend into Q1 2027.
Theriva Biologics’ third-quarter net loss narrowed to $1.47 million. Research and development expenses fell 76%, which the company attributed to completion of the VCN-01 Phase 2b trial and lower manufacturing and clinical trial costs for VCN-01 and SYN-004. General and administrative expenses declined 51%, mainly because of a decrease in the fair value of contingent consideration.
Cash and cash equivalents totaled $8.5 million at quarter-end, with a runway into Q1 2027. Theriva expects to complete enrollment in its VIRAGE2 trial in Q4 2026 and anticipates initial trial data by Q3 2027. The company completed the sale of SYN-004 and related assets for $350,000 upfront, with up to $91 million in milestones and royalties.
