secwatch.observer — SEC 8-K summary
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Issuer:     Theriva Biologics, Inc. (TOVX)
CIK:        0000894158
Form:       8-K
Filed at:   2026-03-12T23:59:59+00:00
Accession:  0001104659-26-026765
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/894158/000110465926026765/0001104659-26-026765-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/894158/000110465926026765/tm268491d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-026765

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer