Theriva Biologics reported a net loss of $7.7 million ($6.81 per share) for Q3 2024, compared to a $3.3 million loss ($4.85 per share) in Q3 2023. Revenue remained minimal while R&D expenses decreased to $2.7 million from $4.0 million year-over-year, primarily due to lower clinical trial costs for the VIRAGE Phase 2 study of VCN-01 in pancreatic cancer. The company recorded impairment charges of $1.3 million for in-process R&D and $1.5 million for goodwill.The company achieved a significant milestone by completing target enrollment of 92 evaluable patients in its VIRAGE Phase 2b trial evaluating VCN-01 plus standard chemotherapy for pancreatic cancer. Thirty patients have received their second doses of VCN-01, which were well tolerated. The company also received EU orphan drug designation for VCN-01 in retinoblastoma treatment.As of September 30, 2024, Theriva had cash and equivalents of $16.4 million, which is expected to fund operations into Q3 2025. The company raised $3.6 million through ATM offerings and $2.0 million through a public offering during the quarter. Management noted substantial doubt about the company's ability to continue as a going concern without additional funding.

Theriva Biologics reported a net loss of $7.7 million ($6.81 per share) for Q3 2024, compared to a $3.3 million loss ($4.85 per share) in Q3 2023. Revenue remained minimal while R&D expenses decreased to $2.7 million from $4.0 million year-over-year, primarily due to lower clinical trial costs for the VIRAGE Phase 2 study of VCN-01 in pancreatic cancer. The company recorded impairment charges of $1.3 million for in-process R&D and $1.5 million for goodwill.The company achieved a significant milestone by completing target enrollment of 92 evaluable patients in its VIRAGE Phase 2b trial evaluating VCN-01 plus standard chemotherapy for pancreatic cancer. Thirty patients have received their second doses of VCN-01, which were well tolerated. The company also received EU orphan drug designation for VCN-01 in retinoblastoma treatment.As of September 30, 2024, Theriva had cash and equivalents of $16.4 million, which is expected to fund operations into Q3 2025. The company raised $3.6 million through ATM offerings and $2.0 million through a public offering during the quarter. Management noted substantial doubt about the company's ability to continue as a going concern without additional funding.