Healthcare · Biotechnology
Price
$0.25
Market Cap
$8.9M
Employees
20
Beta
1.09
Avg Volume
20,744,630
CEO
Steven A. Shallcross
Business Description
Theriva Biologics Inc. is a clinical-stage biotechnology firm dedicated to developing novel treatments for conditions with significant unmet medical needs. The company's pipeline features several promising candidates, including SYN-004, which is engineered to break down commonly used intravenous beta-lactam antibiotics in the gastrointestinal tract. This degradation aims to avert microbiome damage, Clostridioides difficile infection (CDI), the overgrowth of harmful organisms, the rise of antimicrobial resistance (AMR), and acute graft-versus-host disease (aGVHD) in patients undergoing allogeneic hematopoietic cell transplants. Another key investigational therapy is SYN-020, an orally administered recombinant formulation of intestinal alkaline phosphatase, designed to address both localized gastrointestinal and systemic diseases. Additionally, Theriva Biologics is advancing VCN-01 for the treatment of various cancers, specifically pancreatic cancer, head and neck squamous cell carcinoma, colorectal cancer, and retinoblastoma. Its broader clinical-stage portfolio includes SYN-006, intended to prevent aGVHD and infections caused by carbapenem-resistant enterococci; SYN-007, aimed at preventing antibiotic-associated diarrhea linked to oral beta-lactam antibiotics; SYN-005, for both the prevention and treatment of pertussis; and VCN-11, another cancer-focused therapy. The company collaborates with institutions such as Intrexon Corporation, The University of Texas at Austin, and Cedars-Sinai Medical Center. Furthermore, a clinical trial agreement with Washington University School of Medicine in St. Louis is in place to conduct a Phase 1b/2a clinical trial for SYN-004. Formerly known as Synthetic Biologics, Inc., the company rebranded as Theriva Biologics Inc. in October 2022 and is headquartered in Rockville, Maryland.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.12
Stock Price: $0.25
EPS (Diluted): -2.08
EPS (Diluted): -2.08
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.17
Stock Price: $0.25
Total Equity: $15.38M
Shares: 12,140,697
Total Equity: $15.38M
Shares: 12,140,697
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
0.09
Market Cap: $8.91M
Total Debt: $2.28M
Cash: $13.06M
EBITDA: -$23.63M
Total Debt: $2.28M
Cash: $13.06M
EBITDA: -$23.63M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
-$7.9M
Market Cap: $8.91M
Total Debt: $2.28M
Cash: $13.06M
Total Debt: $2.28M
Cash: $13.06M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.00
Stock Price: $0.25
Revenue: $0.00
Shares: 12,140,697
Revenue: $0.00
Shares: 12,140,697
EV/Sales (Total value vs revenue — works when P/E can't)
API0.00
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
0.0%
Gross Profit: -$108,000
Revenue: $0.00
Revenue: $0.00
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
0.0%
Operating Income: -$15.02M
Revenue: $0.00
Revenue: $0.00
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
0.0%
Net Income: -$25.25M
Revenue: $0.00
Revenue: $0.00
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-178.3%
Net Income: -$25.25M
Total Equity: $15.38M
Total Equity: $15.38M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-76.2%
Operating Income: -$15.02M
Tax Rate: -6.4%
Equity: $15.38M
Total Debt: $2.28M
Cash: $13.06M
Tax Rate: -6.4%
Equity: $15.38M
Total Debt: $2.28M
Cash: $13.06M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.74
Current Assets: $17.47M
Current Liabilities: $10.01M
Current Liabilities: $10.01M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.15
Short-Term Debt: $606,000
Long-Term Debt: $1.67M
Total Debt: $2.28M
Total Equity: $15.38M
Long-Term Debt: $1.67M
Total Debt: $2.28M
Total Equity: $15.38M
Rev/Share (Top-line per share)
Revenue / Shares Outstanding
—
Revenue: $0.00
Shares: 12,140,697
Shares: 12,140,697
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$1.27
Total Equity: $15.38M
Shares: 12,140,697
Shares: 12,140,697
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.38
Operating CF: -$16.67M
CapEx: -$35,000
Shares: 12,140,697
CapEx: -$35,000
Shares: 12,140,697
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $0.25
Stock Price: $0.25
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$25.25M
Net Income: -$25.25M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares TOVX against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 20, 2026 10:21am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Cost of Revenue | $0 | $0 | $0 | $0 | $108,000 |
| Gross Profit | $0 | $0 | $0 | $0 | $-108,000 |
| Operating Expenses | $14.3M | $21.6M | $21.4M | $26.3M | $14.9M |
| Operating Income | -$14.3M | -$21.6M | -$21.4M | -$26.3M | -$15.0M |
| Net Income | -$14.3M | -$19.7M | -$18.3M | -$25.7M | -$25.2M |
| EBITDA | -$14.2M | -$19.2M | -$22.0M | -$19.3M | -$23.6M |
| EPS | $-1.90 | $-32.66 | $-28.49 | $-19.03 | $-2.08 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 20, 2026 10:21am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $67.3M | $41.8M | $23.2M | $11.6M | $13.1M |
| Total Current Assets | $68.9M | $45.5M | $27.4M | $16.3M | $17.5M |
| Total Assets | $70.4M | $71.9M | $55.2M | $35.4M | $38.2M |
| Current Liabilities | $3.6M | $7.1M | $6.7M | $7.6M | $10.0M |
| Long-Term Debt | $0 | $221,000 | $162,000 | $92,000 | $1.7M |
| Total Liabilities | $5.0M | $17.3M | $15.5M | $16.3M | $22.9M |
| Total Equity | $65.4M | $54.6M | $39.7M | $19.1M | $15.4M |
| Retained Earnings | -$271.3M | -$291.0M | -$309.3M | -$335.0M | -$358.7M |
Cash Flow (Annual)
Last updated: Jun 20, 2026 10:21am (6d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$12.9M | -$19.1M | -$19.0M | -$16.9M | -$16.7M |
| Capital Expenditure | $-14,000 | $-116,000 | $-202,000 | $-1,000 | $-35,000 |
| Free Cash Flow | -$12.9M | -$19.2M | -$19.2M | -$16.9M | -$16.7M |
| Acquisitions (net) | $0 | -$4.3M | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $-288,000 | $0 | $0 | $0 |
| Net Change in Cash | $61.1M | -$25.4M | -$18.6M | -$11.6M | $1.4M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 6:18am (3h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue | $0 |
$25.7M $25.7M – $25.7M
|
$54.1M $54.1M – $54.1M
|
$154.4M $154.4M – $154.4M
|
| EBITDA | $0 | $0 | $0 | $0 |
| Net Income |
-$2.9M -$2.9M – -$2.9M
|
-$3.9M -$3.9M – -$3.9M
|
-$4.5M -$4.5M – -$4.5M
|
-$5.2M -$5.2M – -$5.2M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 20, 2026 10:21am (6d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | — | — | — |
| Gross Profit Growth | — | — | — | — |
| Operating Income Growth | -51.2% | +0.7% | -22.9% | +43.0% |
| Net Income Growth | -38.0% | +6.8% | -39.8% | +1.6% |
| EBITDA Growth | -35.4% | -14.3% | +12.1% | -22.5% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 6:18am (3h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-01-05 | SHALLCROSS STEVEN A | A-Award | 475,000.00 | $0.24 | $114,475 |
| 2026-01-05 | MONAHAN JOHN J | A-Award | 75,000.00 | $0.24 | $18,075 |
| 2026-01-05 | Kraws Jeffrey J | A-Award | 75,000.00 | $0.24 | $18,075 |
| 2026-01-05 | Wolf Jeffrey Alan | A-Award | 75,000.00 | $0.24 | $18,075 |
| 2025-04-29 | Wolf Jeffrey Alan | A-Award | 25,000.00 | $1.41 | $35,360 |
| 2025-04-29 | SHALLCROSS STEVEN A | A-Award | 190,000.00 | $1.41 | $268,736 |
| 2025-04-29 | MONAHAN JOHN J | A-Award | 25,000.00 | $1.41 | $35,360 |
| 2025-04-29 | Kraws Jeffrey J | A-Award | 25,000.00 | $1.41 | $35,360 |
| 2023-12-14 | SHALLCROSS STEVEN A | A-Award | 700,000.00 | $0.59 | $411,250 |
| 2023-12-14 | Wolf Jeffrey Alan | A-Award | 110,000.00 | $0.59 | $64,625 |
| 2023-12-14 | Kraws Jeffrey J | A-Award | 110,000.00 | $0.59 | $64,625 |
| 2023-12-14 | MONAHAN JOHN J | A-Award | 110,000.00 | $0.59 | $64,625 |
| 2023-06-07 | SHALLCROSS STEVEN A | P-Purchase | 14,000.00 | $0.69 | $9,703 |
| 2023-06-06 | SHALLCROSS STEVEN A | P-Purchase | 26,000.00 | $0.63 | $16,453 |
| 2023-02-10 | SHALLCROSS STEVEN A | P-Purchase | 25,000.00 | $1.04 | $26,075 |
| 2023-02-02 | SHALLCROSS STEVEN A | P-Purchase | 25,000.00 | $0.94 | $23,513 |
| 2023-01-25 | SHALLCROSS STEVEN A | P-Purchase | 25,000.00 | $0.87 | $21,825 |
| 2023-01-20 | SHALLCROSS STEVEN A | P-Purchase | 25,000.00 | $0.75 | $18,705 |
| 2022-12-29 | SHALLCROSS STEVEN A | P-Purchase | 100,000.00 | $0.44 | $43,700 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for TOVX — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30