Earnings Releases·Nov 12, 2026, 8:10 AM ET

Theriva Biologics — Third Quarter 2026 Earnings Summary

Net loss narrowed significantly to $6.7 million for the nine months ended September 30, 2026, compared to $21.7 million in the prior year period, driven by a 51% reduction in general and administrative expenses and a 76% drop in research and development costs following the completion of the VCN-01 Phase 2b PDAC trial and pause of SYN-004 expenses.
The Company completed the sale of its SYN-004 portfolio to Biossil Labs Inc. in October 2026, securing a $350,000 upfront payment with eligibility for up to $91 million in milestones and royalties, while retaining obligations to share 50% of future regulatory/sales milestones and 33 1/3% of royalties with PREV ABR LLC.
VIRAGE2 trial enrollment is on track to complete in Q4 2026, with initial pharmacodynamic and safety data anticipated in Q3 2027 to inform potential pivotal Phase 3 trials for metastatic PDAC; the Company also expects FDA interactions regarding a retinoblastoma trial design in Q1 2027.
Cash and cash equivalents stood at $8.5 million as of September 30, 2026, providing a runway into Q1 2027, while management continues to evaluate strategic alternatives to maximize stockholder value.