Theriva™ Biologics Reports Second Quarter 2025 Operational Highlights and Financial Results

Core Viewpoint - Theriva Biologics reported significant progress in its clinical trials, particularly with its lead asset VCN-01, which has shown positive results in treating metastatic pancreatic cancer and is preparing for a potential Phase 3 trial [2][5]. Financial Results - As of June 30, 2025, cash and cash equivalents were $12.1 million, an increase from $11.6 million as of December 31, 2024, with an expected cash runway into Q1 2026 [9]. - General and administrative expenses surged to $11.2 million for Q2 2025, up 662% from $1.5 million in Q2 2024, primarily due to a $9.2 million increase in fair value of contingent consideration related to the VIRAGE Phase 2b trial [4]. - Research and development expenses decreased to $2.0 million for Q2 2025, down 34% from approximately $3.0 million in Q2 2024, attributed to lower clinical trial expenses [7]. Clinical Development - The Phase 2b VIRAGE trial of VCN-01 demonstrated improved overall survival, progression-free survival, and duration of response in metastatic pancreatic ductal adenocarcinoma (PDAC) patients compared to standard chemotherapy [5][12]. - The company is preparing a study protocol for a potential Phase 3 clinical trial and is advancing the manufacturing scale-up of VCN-01 [2][4]. - Safety and clinical outcomes of VCN-01 in refractory retinoblastoma patients were presented at the ASCO Annual Meeting [3]. Upcoming Milestones - Expanded data from the VIRAGE trial is set to be presented at the ESMO 2025 Congress in October [5]. - The company is initiating strategic outreach to identify potential partners for the late-stage clinical development of VCN-01 [2]. Company Overview - Theriva Biologics is focused on developing therapeutics for cancer and related diseases, with a proprietary oncolytic adenovirus platform designed to enhance the efficacy of existing cancer treatments [15].