Theriva Biologics Files Q3 2024 10-Q

TL;DR

Theriva Biologics 10-Q filed for Q3 2024. Check financials.

AI Summary

Theriva Biologics, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Synthetic Biologics, Inc., reported on its financial status and business operations. Key financial details and operational updates are presented in this quarterly report.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational status of Theriva Biologics, Inc. for the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial performance and market conditions.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20241112 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Theriva Biologics, Inc. (company) — Filer of the 10-Q
• Synthetic Biologics, Inc. (company) — Former name of Theriva Biologics, Inc.
• 2024-09-30 (date) — End of the reporting period
• 2024-11-12 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — t had 2,782,449 shares of common stock, $0.001 par value per share, outstanding. Tabl

Filing Documents

• tmb-20240930x10q.htm (10-Q) — 1748KB
• tmb-20240930xex31d1.htm (EX-31.1) — 13KB
• tmb-20240930xex32d1.htm (EX-32.1) — 6KB
• tmb-20240930x10q001.jpg (GRAPHIC) — 42KB
• 0001410578-24-001850.txt ( ) — 7456KB
• tmb-20240930.xsd (EX-101.SCH) — 54KB
• tmb-20240930_cal.xml (EX-101.CAL) — 56KB
• tmb-20240930_def.xml (EX-101.DEF) — 226KB
• tmb-20240930_lab.xml (EX-101.LAB) — 445KB
• tmb-20240930_pre.xml (EX-101.PRE) — 350KB
• tmb-20240930x10q_htm.xml (XML) — 1186KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Nine Months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 46

OTHER INFORMATION

PART II. OTHER INFORMATION 48 Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51 Item 3. Defaults Upon Senior Securities 51 Item 4. Mine Safety Disclosures 51 Item 5. Other Information 51 Item 6. Exhibits 51

SIGNATURES

SIGNATURES 52 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) September 30, 2024 December 31, 2023 Assets Current Assets Cash and cash equivalents $ 16,409 $ 23,177 Tax credit receivable 1,832 1,812 Prepaid expenses and other current assets 1,292 2,414 Total Current Assets 19,533 27,403 Non-Current Assets Property and equipment, net 314 422 Restricted cash 103 102 Right of use asset 1,428 1,759 In-process research and development 18,651 19,755 Goodwill — 5,700 Deposits and other assets 79 78 Total Assets $ 40,108 $ 55,219 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $ 756 $ 770 Accrued expenses 3,754 2,995 Accrued employee benefits 1,291 1,517 Deferred research and development tax credit-current portion 916 906 Loans payable-current 65 63 Operating lease liability-current portion 541 487 Total Current Liabilities 7,323 6,738 Non-current Liabilities Non-current contingent consideration 6,788 6,274 Loan Payable - non-current 98 162 Non-current deferred research and development tax credit 229 906 Non-current operating lease liability 1,035 1,442 Total Liabilities 15,473 15,522 Commitments and Contingencies (Note 13) Temporary Equity; 10,000,000 authorized Series C convertible preferred stock, $ 0.001 par value; 0 issued and outstanding at September 30, 2024, and 275,000 issued and outstanding at December 31, 2023 — 2,006 Series D convertible preferred stock, $ 0.001 par value; 0 issued and outstanding at September 30, 2024 and 100,000 issued and outstanding at December 31, 2023 — 728 Stockholders' Equity: Common stock, $ 0.001 par value; 14,000,000 shares authorized, 2,646,272 issued and 2,617,462 outstanding at September 30, 2024 and 715,028 issued and 686,219 outstandi

View Full Filing

View this 10-Q filing on SEC EDGAR