Theriva Biologics, Inc. (TOVX)

Theriva Biologics' stock has experienced significant volatility in the past six months. The share price saw a substantial decline between January 13, 2025, and January 9, 2026. On October 24, 2025, the company became aware of unusual trading activity in its common stock. In October 2025, the company announced a warrant inducement transaction that generated $4.0 million in gross proceeds. In December 2025, Theriva Biologics announced positive scientific advice from the EMA on the design of a Phase 3 trial for VCN-01. In September 2024, the stock experienced a significant jump after VCN-01 received a Rare Pediatric Drug Designation from the FDA and the company reported Q2 earnings that exceeded analysts' estimates, alongside a reverse stock split.

There is no publicly available information or indication of traditional demand seasonality for Theriva Biologics' products and services. The demand for their therapeutic candidates is driven by medical need and the progress of their clinical development and regulatory approvals, rather than seasonal fluctuations. Seasonality in the stock's performance does not reflect seasonality in the demand for their actual products or services.

Theriva Biologics is a clinical-stage biotechnology company focused on developing innovative therapeutics for cancer and related diseases with high unmet medical needs. The company's lead product candidate, VCN-01, is undergoing Phase 2 clinical studies for pancreatic cancer and Phase 1 clinical studies for retinoblastoma, head and neck squamous cell carcinoma, ovarian cancer, colorectal cancer, and other solid tumors. The company's pipeline also includes SYN-004 (ribaxamase), designed to degrade intravenous beta-lactam antibiotics in the gastrointestinal tract; SYN-006, aimed at preventing aGVHD and infection by carbapenem-resistant enterococci; SYN-007, in clinical development for preventing antibiotic-associated diarrhea with oral ß-lactam antibiotics; SYN-020, intended to treat both local gastrointestinal and systemic diseases; and VCN-11, for treating solid tumors.

Theriva Biologics is headquartered in Rockville, Maryland, and primarily develops therapeutics in the United States. The company has collaboration agreements with several institutions, including The University of Texas at Austin, the Catalan Institute of Oncology, Fundació Privada Institut d'Investigacio Biomedica de Bellvitge, Saint Joan De Déu, and Massachusetts General Hospital. It also has a clinical trial agreement with Washington University School of Medicine in St. Louis. VCN-01 has received positive scientific advice from the European Medicines Agency (EMA), indicating a potential future market presence in Europe.

Theriva Biologics has maintained transparency regarding its business developments. The company actively presents enhanced data from its clinical trials at major oncology congresses. The company issued a statement to clarify that there were no undisclosed material changes after unusual trading activity in October 2025. The company's focus on addressing high unmet medical needs in cancer treatment and its ongoing clinical advancements contribute to its scientific and medical standing.

Theriva Biologics is primarily owned by retail investors, with institutional shareholders and insiders holding smaller percentages. Major institutional owners include Ikarian Capital LLC, Two Sigma Investments LP, Virtu Financial LLC, Jane Street Group LLC, Boothbay Fund Management LLC, XTX Topco Ltd, Geode Capital Management LLC, Two Sigma Advisers LP, UBS Group AG, and Vanguard Group Inc. The largest individual shareholder is Steven A. Shallcross.