---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-026765"
form_type: "8-K"
ticker: "TOVX"
cik: "0000894158"
company_name: "Theriva Biologics, Inc."
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T14:34:45.081754+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Theriva Biologics FY2025 cash $13.1M; licensing deal, EMA guidance on VCN-01 Phase 3

## Summary
- G&A expense rose 109% to $15.4M on $9.0M contingent consideration from VCN-01 trial success.
- R&D expense fell 28% to $8.6M as VIRAGE Phase 2b completed; lower trial costs offset by patent spending.
- Cash $13.1M at Dec 31, 2025; $15.2M at Feb 26, 2026 providing runway into Q1 2027.
- Licensed SYN-020 to Rasayana for up to $38M milestones plus royalties; received $300K upfront.
- EMA agreed on Phase 3 trial design for VCN-01 in PDAC; End-of-Phase 2 FDA meeting planned 1H 2026.

## SEC filing metadata
- accession: 0001104659-26-026765
- form_type: 8-K
- ticker: TOVX
- cik: 0000894158
- company_name: Theriva Biologics, Inc.
- filed_at: 2026-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894158/000110465926026765/0001104659-26-026765-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894158/000110465926026765/tm268491d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-026765
- JSON: https://secwatch.observer/filing/0001104659-26-026765.json
- Plain text: https://secwatch.observer/filing/0001104659-26-026765.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.