Theriva Biologics, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Theriva Biologics, Inc. filed its Q1 2024 10-Q report detailing financial statements and corporate history.</b>

AI Summary

Theriva Biologics, Inc. (TOVX) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Theriva Biologics, Inc. (formerly Synthetic Biologics, Inc.) filed a 10-Q report on May 7, 2024, for the period ending March 31, 2024. The company's principal business address is 9605 Medical Center Drive, Suite 270, Rockville, MD 20850. The filing includes financial data related to common stock, preferred stock, retained earnings, and additional paid-in capital as of March 31, 2024, and prior periods. Information on employee stock options and various stock plans dating back to 2007 is also present. The report details capitalized property, plant, and equipment, including leasehold improvements, computer software, and office equipment as of March 31, 2024.

Why It Matters

For investors and stakeholders tracking Theriva Biologics, Inc., this filing contains several important signals. This 10-Q filing provides a snapshot of Theriva Biologics' financial position and equity structure as of the end of the first quarter of 2024, crucial for investors assessing the company's stability and capital. The inclusion of historical stock plan information and previous corporate names (Synthetic Biologics, Inc., Adeona Pharmaceuticals, Inc., Pipex Pharmaceuticals, Inc.) offers context on the company's evolution and potential past strategic decisions.

Risk Assessment

Risk Level: low — Theriva Biologics, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, which typically contains routine financial disclosures and does not indicate any immediate or significant financial distress or positive development.

Analyst Insight

Investors should review the detailed financial statements within the 10-Q to understand Theriva Biologics' current financial health and equity structure.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-07 — Filing Date (Filed as of date)
• 2012-03-05 — Synthetic Biologics Name Change Date (Date of name change)
• 2008-10-27 — Adeona Pharmaceuticals Name Change Date (Date of name change)
• 2006-12-14 — Pipex Pharmaceuticals Name Change Date (Date of name change)
• 2020-09-17 — Stock Plan 2020 Adoption Date (Adoption date for Stock Plan 2020)
• 2010-11-02 — Stock Plan 2010 Adoption Date (Adoption date for Stock Plan 2010)
• 2007-03-20 — Stock Plan 2007 Adoption Date (Adoption date for Stock Plan 2007)

Key Players & Entities

• Theriva Biologics, Inc. (company) — Filer name
• Synthetic Biologics, Inc. (company) — Former company name
• Adeona Pharmaceuticals, Inc. (company) — Former company name
• Pipex Pharmaceuticals, Inc. (company) — Former company name
• Rockville (location) — Business address city
• MD (location) — Business address state
• 20850 (location) — Business address zip code
• NV (location) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — had 17,277,371 shares of common stock, $0.001 par value per share, outstanding. Tabl

Filing Documents

• tmb-20240331x10q.htm (10-Q) — 1254KB
• tmb-20240331xex31d1.htm (EX-31.1) — 15KB
• tmb-20240331xex32d1.htm (EX-32.1) — 7KB
• tmb-20240331x10q001.jpg (GRAPHIC) — 52KB
• 0001410578-24-000601.txt (&nbsp;) — 6087KB
• tmb-20240331.xsd (EX-101.SCH) — 47KB
• tmb-20240331_cal.xml (EX-101.CAL) — 53KB
• tmb-20240331_def.xml (EX-101.DEF) — 182KB
• tmb-20240331_lab.xml (EX-101.LAB) — 402KB
• tmb-20240331_pre.xml (EX-101.PRE) — 300KB
• tmb-20240331x10q_htm.xml (XML) — 983KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three Months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION 39 Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 42

SIGNATURES

SIGNATURES 43 2 Table of Contents

–FINANCIAL INFORMATION

PART I–FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) Theriva Biologics, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands except share and par value amounts) March 31, 2024 December 31, 2023 Assets Current Assets Cash and cash equivalents $ 18,261 $ 23,177 Tax credit receivable 1,772 1,812 Prepaid expenses and other current assets 1,623 2,414 Total Current Assets 21,656 27,403 Non-Current Assets Property and equipment, net 375 422 Restricted cash 99 102 Right of use asset 1,634 1,759 In-process research and development 19,316 19,755 Goodwill 5,573 5,700 Deposits and other assets 77 78 Total Assets $ 48,730 $ 55,219 Liabilities and Stockholders Equity Current Liabilities: Accounts payable $ 571 $ 770 Accrued expenses 3,327 2,995 Accrued employee benefits 665 1,517 Deferred research and development tax credit-current portion 886 906 Loans payable-current 62 63 Operating lease liability-current portion 498 487 Total Current Liabilities 6,009 6,738 Non-current Liabilities Non-current contingent consideration 6,476 6,274 Loan Payable - non-current 159 162 Non-current deferred research and development tax credit 664 906 Non-current operating lease liability 1,299 1,442 Total Liabilities 14,607 15,522 Commitments and Contingencies (Note 13) — — Temporary Equity; 10,000,000 authorized Series C convertible preferred stock, $ 0.001 par value; 275,000 issued and outstanding 2,006 2,006 Series D convertible preferred stock, $ 0.001 par value; 100,000 issued and outstanding 728 728 Stockholders' Equity: Common stock, $ 0.001 par value; 350,000,000 shares authorized, 17,868,282 issued and 17,148,049 outstanding at March 31, 2024 and 17,868,282 issued and 17,148,049 outstanding at December 31, 2023 18 18 Additional paid-in capital 346,679 346,519 Treasury stock at cost, 720,233 shares at Mar

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View this 10-Q filing on SEC EDGAR