Theriva Biologics FY2025 net loss attributable to common stockholders was USD 25.25 million and G&A expenses more than doubled to USD 15.45 million

Theriva reported a FY 2025 net loss of USD 23.74 million, compared with a 7% narrower net loss attributable to common stockholders of USD 25.25 million. FY 2025 general and administrative expenses rose to USD 15.45 million, more than doubled, primarily due to a USD 9 million contingent consideration adjustment tied to the VIRAGE Phase 2b trial of VCN-01 in PDAC achieving its primary survival and safety endpoints. FY 2025 research and development expenses fell 28% to USD 8.6 million, mainly reflecting lower clinical trial costs following completion of the VIRAGE Phase 2b study and lower SYN-004 trial spending, partly offset by higher SYN-020 patent expenses. Cash and cash equivalents were USD 13.06 million at year-end 2025, and management said recent capital raises lifted cash to about USD 15.2 million as of February 26, 2026, providing runway into Q1 2027. Theriva said it received positive scientific advice from the EMA on a proposed Phase 3 VCN-01 trial in metastatic PDAC, and plans an FDA End-of-Phase 2 meeting in 1H 2026 to finalize the Phase 3 design.

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