Theriva Biologics Q3 2024: completes VIRAGE enrollment, cash $16.4M, impairment charges

Theriva Biologics, Inc.

2024-Q3 EPS reported -$24.47

Completed enrollment of 92 evaluable patients in VIRAGE Phase 2b trial of VCN-01 in metastatic pancreatic ductal adenocarcinoma.
Cash and cash equivalents totaled $16.4M at Sep 30, 2024, down from $23.2M at Dec 31, 2023.
R&D expenses decreased 32% to $2.7M; G&A expenses increased to $2.3M partly due to contingent consideration adjustments.
Recorded impairment charges of $1.3M on in-process R&D and $1.5M on goodwill due to decline in stock price.
Discussions initiated with regulators to potentially expand VIRAGE into Phase 3 registrational trial; also positive progress in retinoblastoma program.

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