TOVX on NYSE
Theriva Biologics, Inc.
We are a diversified clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need.3 From its latest annual report
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Last updated Oct 19, 2026.
Overview
- TickerTOVX on NYSE1
- IndustryPharmaceutical Preparations1
- HeadquartersRockville, Maryland1
- Incorporated inNV2
- Business address9605 Medical Center Drive, Suite 270, Rockville, Md 208502
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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We are a diversified clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need. As a result of the Company’s acquisition of Theriva Biologics, S.L. (“VCN”, formerly named VCN Biosciences, S.L.), in March 2022, as described in more detail below (the “Acquisition”), we transitioned our strategic focus to oncology through the development of VCN’s new oncolytic adenovirus platform designed for intravenous and intravitreal delivery to trigger tumor cell death, to improve access of co-administered cancer therapies to the tumor, and to promote a robust and sustained anti-tumor response by the patient’s immune system. Our lead product candidate, VCN - 01 (zabilugene almadenorepvec), is a clinical stage oncolytic human adenovirus that is modified for tumor - selective replication and to express an enzyme, PH20 hyaluronidase. VCN - 01 …3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.9
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| General and administrative | $15.4M | $7.4M |
| Research and development | $8.6M | $12.0M |
| In-process research and development impairment | $0 | $1.3M |
| Goodwill impairment | $5.6M | |
| Total Operating Costs and Expenses | $24.1M | $26.3M |
| Loss from Operations | -$24.1M | -$26.3M |
| Foreign currency exchange gain (loss) | $25.0K | -$4.0K |
| Interest income | $287.0K | $697.0K |
| Total Other Income | $312.0K | $693.0K |
| Net Loss before income taxes | -$23.7M | -$25.7M |
| Net Loss | -$23.7M | -$25.7M |
| Less deemed dividend from warrant inducement | -$1.5M | |
| Net Loss Attributable to Common Stockholders | -$25.2M | -$25.7M |
| Net Loss Per Share - Basic (in dollars per share) | -$2.08 | -$19.03 |
| Net Loss Per Share - Dilutive (in dollars per share) | -$2.08 | -$19.03 |
| Weighted average number of shares outstanding during the period - Basic (in shares) | 12.1M shares | 1.3M shares |
| Weighted average number of shares outstanding during the period - Dilutive (in shares) | 12.1M shares | 1.3M shares |
| Gain (loss) on foreign currency translation | $1.9M | -$1.2M |
| Total comprehensive loss | -$21.8M | -$26.9M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 7 quarters (quarterly), latest first.9
| Period ending | 2025-12-31 | 2024-12-31 | 2024-08-31 | 2024-07-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $13.1M | $11.6M | |||
| Tax credit receivable | $3.4M | $3.2M | |||
| Prepaid expenses and other current assets | $1.1M | $1.4M | |||
| Total Current Assets | $17.5M | $16.3M | |||
| Property and equipment, net | $222.0K | $270.0K | |||
| Restricted cash | $46.0K | $96.0K | |||
| Right of use asset | $803.0K | $1.3M | |||
| In-process research and development | $19.6M | $17.4M | |||
| Deposits and other assets | $82.0K | $75.0K | |||
| Total Assets | $38.2M | $35.4M | |||
| Accounts payable | $1.0M | $859.0K | |||
| Accrued expenses | $6.3M | $3.4M | |||
| Accrued employee benefits | $443.0K | $1.1M | |||
| Deferred research and development tax credit-current portion | $1.7M | $1.6M | |||
| Loans payable-current | $57.0K | $61.0K | |||
| Operating lease liability-current portion | $549.0K | $539.0K | |||
| Total Current Liabilities | $10.0M | $7.6M | |||
| Non-current contingent consideration | $10.0M | $7.0M | |||
| Loan Payable - non-current | $1.7M | $92.0K | |||
| Non-current deferred research and development tax credit | $815.0K | $762.0K | |||
| Non-current operating lease liability | $352.0K | $873.0K | |||
| Total Liabilities | $22.9M | $16.3M | |||
| Common stock, $0.001 par value; 350,000,000 shares authorized, 35,717,159 issued and 35,688,350 outstanding at December 31, 2025 and 2,811,259 issued and 2,782,449 outstanding at December 31, 2024 | $34.0K | $3.0K | |||
| Additional paid-in capital | $373.6M | $355.5M | |||
| Treasury stock at cost, 28,809 shares at December 31, 2025 and at December 31, 2024 | -$288.0K | -$288.0K | |||
| Accumulated other comprehensive income (loss) | $755.0K | -$1.2M | |||
| Accumulated deficit | -$358.7M | -$335.0M | |||
| Total Stockholders' Equity | $15.4M | $19.1M | $37.0M | ||
| Total Liabilities and Stockholders' Equity | $38.2M | $35.4M | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock, shares authorized | 350.0M shares | 350.0M shares | 14.0M shares | ||
| Common stock, shares issued | 35.7M shares | 2.8M shares | |||
| Common stock, shares outstanding | 35.7M shares | 2.8M shares | 1.0M shares | ||
| Treasury stock | 28.8K shares | 28.8K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-08-31 | 2024-07-31 | 2023-12-31 | 2022-10-31 | 2022-07-31 |
|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $13.1M | $11.6M | |||||
| Tax credit receivable | $3.4M | $3.2M | |||||
| Prepaid expenses and other current assets | $1.1M | $1.4M | |||||
| Total Current Assets | $17.5M | $16.3M | |||||
| Property and equipment, net | $222.0K | $270.0K | |||||
| Restricted cash | $46.0K | $96.0K | |||||
| Right of use asset | $803.0K | $1.3M | |||||
| In-process research and development | $19.6M | $17.4M | |||||
| Deposits and other assets | $82.0K | $75.0K | |||||
| Total Assets | $38.2M | $35.4M | |||||
| Accounts payable | $1.0M | $859.0K | |||||
| Accrued expenses | $6.3M | $3.4M | |||||
| Accrued employee benefits | $443.0K | $1.1M | |||||
| Deferred research and development tax credit-current portion | $1.7M | $1.6M | |||||
| Loans payable-current | $57.0K | $61.0K | |||||
| Operating lease liability-current portion | $549.0K | $539.0K | |||||
| Total Current Liabilities | $10.0M | $7.6M | |||||
| Non-current contingent consideration | $10.0M | $7.0M | |||||
| Loan Payable - non-current | $1.7M | $92.0K | |||||
| Non-current deferred research and development tax credit | $815.0K | $762.0K | |||||
| Non-current operating lease liability | $352.0K | $873.0K | |||||
| Total Liabilities | $22.9M | $16.3M | |||||
| Common stock, $0.001 par value; 350,000,000 shares authorized, 35,717,159 issued and 35,688,350 outstanding at December 31, 2025 and 2,811,259 issued and 2,782,449 outstanding at December 31, 2024 | $34.0K | $3.0K | |||||
| Additional paid-in capital | $373.6M | $355.5M | |||||
| Treasury stock at cost, 28,809 shares at December 31, 2025 and at December 31, 2024 | -$288.0K | -$288.0K | |||||
| Accumulated other comprehensive income (loss) | $755.0K | -$1.2M | |||||
| Accumulated deficit | -$358.7M | -$335.0M | |||||
| Total Stockholders' Equity | $15.4M | $19.1M | $37.0M | ||||
| Total Liabilities and Stockholders' Equity | $38.2M | $35.4M | |||||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||||
| Common stock, shares authorized | 350.0M shares | 350.0M shares | 14.0M shares | 350.0M shares | |||
| Common stock, shares issued | 35.7M shares | 2.8M shares | 2.5M shares | ||||
| Common stock, shares outstanding | 35.7M shares | 2.8M shares | 1.0M shares | ||||
| Treasury stock | 28.8K shares | 28.8K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.9
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$23.7M | -$25.7M |
| Stock-based compensation | $654.0K | $671.0K |
| In-process research and development impairment | $0 | $1.3M |
| Goodwill impairment | $5.6M | |
| Change in fair value of contingent consideration | $9.0M | $699.0K |
| Loss on asset disposal | $1.0K | |
| Non - cash lease expense | $522.0K | $452.0K |
| Depreciation | $108.0K | $137.0K |
| Deferred research and development tax credit | -$188.0K | -$888.0K |
| Prepaid expenses and other current assets | $456.0K | $912.0K |
| Deposits and other assets | $1.0K | |
| Accounts payable | $69.0K | $123.0K |
| Accrued expenses | -$2.3M | $522.0K |
| Accrued employee benefits | -$744.0K | -$350.0K |
| Operating lease liability | -$562.0K | -$482.0K |
| Net Cash Used In Operating Activities | -$16.7M | -$16.9M |
| Purchases of property and equipment | -$35.0K | -$1.0K |
| Net Cash Used In Investing Activities | -$35.0K | -$1.0K |
| Payment of loans payable | -$70.0K | -$67.0K |
| Proceeds from issuance under at - the - market offering, net of issuance cost | $6.8M | $3.6M |
| Payment of contingent consideration | -$1.0M | |
| Proceeds from issuance Common Stock and Warrants offering, net of issuance costs | $6.7M | $2.0M |
| Proceeds from warrant inducement | $3.9M | |
| Proceeds from long term debt | $1.5M | |
| Proceeds from issuance of common stock for warrant exercises | $4.0K | |
| Tax credit receivable | $287.0K | |
| Net Cash Provided By Financing Activities | $18.2M | $5.5M |
| Effects of exchange rate changes on cash and cash equivalents | -$92.0K | -$132.0K |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $1.4M | -$11.6M |
| Noncash equity issuance costs and deemed dividend | $5.9M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Theriva Biologics, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerSteven A. Shallcross Dec 21, 2017 to now12
- Chief executive officerJames S. Kuo Mar 3, 2010 to Aug 31, 201113
- Chief executive officerLyman Max Lyon Jr. Aug 3, 2009 to Dec 10, 200914
- Chief executive officerNicholas Stergis Jul 14, 2008 to Jul 14, 200815
- Chief executive officerMichael F. Manion Aug 11, 2006 to Aug 11, 200616
- Chief executive officerSteve H. Kanzer Nov 13, 2006 to Apr 15, 200817
- ChairJames S. Kuo Mar 3, 2010 to Aug 31, 201113
- ChairSteve H. Kanzer Jan 20, 2009 to Jan 20, 200918
- PresidentJames S. Kuo Mar 3, 2010 to Aug 31, 201113
- PresidentLyman Max Lyon Jr. Dec 8, 2009 to Dec 10, 200919
- PresidentCharles Bisgaier Phd. Jul 17, 2007 to Jul 17, 200720
- PresidentMichael F. Manion Jun 1, 2006 to Nov 2, 200621
- Chief financial officerSteven A. Shallcross Jun 1, 2015 to now22
- Chief financial officerCharles Evan Ballantyne Feb 7, 2012 to Jan 12, 201523
- Chief operating officerFrancis Tufaro Mar 23, 2022 to Dec 16, 202224
Board members and other officers (15)
- Chief Medical OfficerJoseph A. Sliman Jan 18, 2017 to Dec 21, 201725
- Chief Scientific OfficerDavid A. Newsome Oct 22, 2007 to Nov 6, 200726
- Board memberJohn J. Monahan Nov 12, 2020 to now27
- Board memberSteven A. Shallcross Dec 7, 2018 to now28
- Board memberNelson K. Stacks Feb 6, 2012 to Feb 6, 201229
- Board memberLyman Max Lyon Jr. Dec 8, 2009 to Dec 10, 200919
- Board memberDaniel J. Dorman Feb 28, 2007 to Nov 13, 200730
- Board memberJames S. Kuo Feb 28, 2007 to Nov 6, 200731
- Board memberMichael F. Manion Jun 1, 2006 to Nov 2, 200621
- Board memberNicholas Stergis Nov 13, 2006 to Jul 14, 200832
- Board memberSteve H. Kanzer Nov 13, 2006 to Jan 7, 201117
- Board memberCharles Bisgaier Phd. Nov 17, 2006 to Jul 17, 200733
- Board memberJeffrey Alan Wolf Nov 17, 2006 to now34
- Board memberJeffrey J. Kraws Nov 17, 2006 to now35
- Board memberA. Joseph Rudick Nov 29, 2006 to Feb 4, 200836
Former names
Timeline
- Dec 21, 2017New chief executive Steven A. Shallcross becomes CEO12
- Mar 3, 2010New chief executive James S. Kuo becomes CEO13
- Aug 3, 2009New chief executive Lyman Max Lyon Jr. becomes CEO14
- Jul 14, 2008New chief executive Nicholas Stergis becomes CEO15
- Nov 13, 2006New chief executive Steve H. Kanzer becomes CEO17
- Aug 11, 2006New chief executive Michael F. Manion becomes CEO16
Filings
242 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 103 major events, 29 insider forms, 9 large holders, 3 private raises, 78 other. The latest 20:
- Oct 9, 2026PRE 14A EDGAR
- Aug 24, 2026S-8 EDGAR
- Aug 11, 202610-Q EDGAR
- Aug 11, 20268-K EDGAR
- Aug 6, 20268-K EDGAR
- Aug 4, 20268-K EDGAR
- Jul 7, 20268-K EDGAR
- Jun 29, 2026ARS EDGAR
- Jun 29, 2026DEF 14A EDGAR
- Jun 18, 2026PRE 14A EDGAR
- Jun 11, 20268-K EDGAR
- Jun 5, 20268-K EDGAR
- May 5, 202610-Q EDGAR
- May 5, 20268-K EDGAR
- Apr 30, 2026DEF 14A EDGAR
- Apr 20, 2026PRE 14A EDGAR
- Apr 17, 20268-K EDGAR
- Apr 9, 20268-K EDGAR
- Mar 23, 20268-K EDGAR
- Mar 16, 2026DEF 14A EDGAR
The 242 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
7 open-market trades by officers, directors and large owners since October 2021: 7 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 7, 2023 | SHALLCROSS STEVEN ACEO and CFO | Buy | 14,000 | $0.69 | $9.7K | Form 4 |
| Jun 6, 2023 | SHALLCROSS STEVEN ACEO and CFO | Buy | 26,000 | $0.63 | $16.4K | Form 4 |
| Feb 10, 2023 | SHALLCROSS STEVEN ACEO and CFO | Buy | 25,000 | $1.04 | $26.0K | Form 4 |
| Feb 2, 2023 | SHALLCROSS STEVEN ACEO and CFO | Buy | 25,000 | $0.94 | $23.5K | Form 4 |
| Jan 25, 2023 | SHALLCROSS STEVEN ACEO and CFO | Buy | 25,000 | $0.87 | $21.8K | Form 4 |
| Jan 20, 2023 | SHALLCROSS STEVEN ACEO and CFO | Buy | 25,000 | $0.75 | $18.8K | Form 4 |
| Dec 29, 2022 | SHALLCROSS STEVEN ACEO and CFO | Buy | 100,000 | $0.44 | $44.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Jeffrey Matthew Gryga Irrevocable TrustSCHEDULE 13G, 1 filing Nov 10, 202537
- Empery Asset Management, LPSCHEDULE 13G/A, 2 filings Jul 31, 2025 to Oct 21, 202538
- CVI Investments, Inc.SCHEDULE 13G/A, 2 filings Oct 2, 2024 to Feb 7, 202539
- INTRACOASTAL CAPITAL, LLCSC 13G, 1 filing Oct 3, 202440
- Iroquois Capital Management, LLCSC 13G/A, 1 filing Feb 23, 202241
- RENAISSANCE TECHNOLOGIES LLCSC 13G/A, 1 filing Feb 11, 202242
- Hudson Bay Capital Management LPSC 13G/A, 1 filing Feb 4, 202243
Money raised
Private offerings the company reported to the SEC on Form D.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 26. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 18SEC EDGARSteve H. Kanzer, Chair
- 19SEC EDGARLyman Max Lyon Jr., President
- 20SEC EDGARCharles Bisgaier Phd., President
- 21SEC EDGARMichael F. Manion, President
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- 27SEC EDGARJohn J. Monahan, Board member
- 28SEC EDGARSteven A. Shallcross, Board member
- 29SEC EDGARNelson K. Stacks, Board member
- 30SEC EDGARDaniel J. Dorman, Board member
- 31SEC EDGARJames S. Kuo, Board member
- 32SEC EDGARNicholas Stergis, Board member
- 33SEC EDGARCharles Bisgaier Phd., Board member
- 34SEC EDGARJeffrey Alan Wolf, Board member
- 35SEC EDGARJeffrey J. Kraws, Board member
- 36SEC EDGARA. Joseph Rudick, Board member
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