Theriva Biologics, Inc reported full year 2025 operational highlights and financial results, underscoring continued pipeline advancement and strategic moves to extend cash runway, the company announced. The clinical‑stage biotech ended the year with $13.1 million in cash and cash equivalents, increasing to approximately $15.2 million by late February 2026, providing funding into the first quarter of 2027, according to company disclosures. Net loss attributable to common stockholders was about $25.3 million for 2025, slightly improved from the prior year as overall operating costs and expenses declined. General and administrative costs rose, driven in part by contingent consideration adjustments tied to clinical progress, while research and development expenses decreased as major trials wound down.
The company licensed its recombinant enzyme asset SYN‑020 to Rasayana Therapeutics, receiving an upfront payment and becoming eligible for up to $38 million in future milestone payments plus tiered royalties on sales, the company claims. This deal shifts future clinical development costs for SYN‑020 to the licensee and aligns with Theriva’s focus on its oncology pipeline.
Theriva is advancing its lead oncolytic virus candidate VCN‑01 (zabilugene almadenorepvec) toward pivotal development for pancreatic ductal adenocarcinoma and retinoblastoma. It received positive scientific advice from the European Medicines Agency supporting its proposed Phase 3 trial design in metastatic pancreatic cancer and plans an End‑of‑Phase 2 meeting with the U.S. Food and Drug Administration in the first half of 2026 to finalise a multinational Phase 3 protocol. Progress in expanding clinical data and regulatory interactions positions the company to target key milestones in its oncology programmes.
