Theriva Biologics Reports Q2 2024 Results

TL;DR

**Theriva Biologics Q2 2024: $4.17M Assets, $1.40M Liabilities, $1.99M Net Loss.**

AI Summary

Theriva Biologics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $4.17 million and total liabilities of $1.40 million as of June 30, 2024. For the three months ended June 30, 2024, the company had a net loss of $1.99 million.

Why It Matters

This filing provides investors with a snapshot of Theriva Biologics' financial health and operational performance for the second quarter of 2024, including its asset base, liabilities, and net loss.

Risk Assessment

Risk Level: medium — The company reported a net loss, indicating ongoing operational challenges and potential need for further funding.

Key Numbers

• $4.17M — Total Assets (As of June 30, 2024)
• $1.40M — Total Liabilities (As of June 30, 2024)
• $1.99M — Net Loss (3 months) (For the period ended June 30, 2024)

Key Players & Entities

• Theriva Biologics, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $4.17 million (dollar_amount) — Total assets as of June 30, 2024
• $1.40 million (dollar_amount) — Total liabilities as of June 30, 2024
• $1.99 million (dollar_amount) — Net loss for the three months ended June 30, 2024

FAQ

Key Financial Figures

• $0.001 — had 25,131,230 shares of common stock, $0.001 par value per share, outstanding. Tabl

Filing Documents

• tmb-20240630x10q.htm (10-Q) — 1494KB
• tmb-20240630xex31d1.htm (EX-31.1) — 14KB
• tmb-20240630xex32d1.htm (EX-32.1) — 7KB
• tmb-20240630x10q001.jpg (GRAPHIC) — 52KB
• 0001410578-24-001342.txt ( ) — 6731KB
• tmb-20240630.xsd (EX-101.SCH) — 49KB
• tmb-20240630_cal.xml (EX-101.CAL) — 54KB
• tmb-20240630_def.xml (EX-101.DEF) — 211KB
• tmb-20240630_lab.xml (EX-101.LAB) — 411KB
• tmb-20240630_pre.xml (EX-101.PRE) — 322KB
• tmb-20240630x10q_htm.xml (XML) — 1054KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Six Months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months ended June 30, 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 41

OTHER INFORMATION

PART II. OTHER INFORMATION 43 Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 46

SIGNATURES

SIGNATURES 47 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) June 30, 2024 December 31, 2023 Assets Current Assets Cash and cash equivalents $ 16,593 $ 23,177 Tax credit receivable 1,759 1,812 Prepaid expenses and other current assets 1,363 2,414 Total Current Assets 19,715 27,403 Non-Current Assets Property and equipment, net 336 422 Restricted cash 99 102 Right of use asset 1,519 1,759 In-process research and development 19,179 19,755 Goodwill 1,465 5,700 Deposits and other assets 77 78 Total Assets $ 42,390 $ 55,219 Liabilities and Stockholders Equity Current Liabilities: Accounts payable $ 935 $ 770 Accrued expenses 3,489 2,995 Accrued employee benefits 969 1,517 Deferred research and development tax credit-current portion 880 906 Loans payable-current 62 63 Operating lease liability-current portion 513 487 Total Current Liabilities 6,848 6,738 Non-current Liabilities Non-current contingent consideration 6,201 6,274 Loan Payable - non-current 93 162 Non-current deferred research and development tax credit 440 906 Non-current operating lease liability 1,162 1,442 Total Liabilities 14,744 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 139,569 outstanding 1,018 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, 23,113,391 issued and 22,393,158 outstanding at June 30, 2024 and 17,868,282 issued and 17,148,049 outstanding at December 31, 2023 23 18 Additional paid-in capital 349,673 346,519 Treasury stock at cost, 720,233 shares at June 3

View Full Filing

View this 10-Q filing on SEC EDGAR