The following is a summary of the Theriva Biologics, Inc. (TOVX) Q4 2023 Earnings Call Transcript:
Financial Performance:
Theriva Biologics reported a decrease in general and administrative expenses from $9.9 million to $7.1 million, a decrease of 28% for 2023.
Research and development expenses increased from $11.7 million for 2022 to $14.3 million for 2023, which is primarily due to higher clinical trial expenses related to the VIRAGE Phase 2 trial of VCN-01 in PDAC.
As of December 31, 2023, Theriva Biologics had $23.2 million in cash and cash equivalents, compared to $41.8 million as of December 31, 2022.
Business Progress:
Theriva Biologics continues to build its oncology-focused portfolio, focusing on opportunities for its lead clinical candidate, VCN-01.
The VIRAGE Phase 2b trial of VCN-01 showed positive safety and feasibility results with improved clinical outcomes, and it aims to complete enrolment in the first half of 2024.
Completed patient treatments for the Phase 1 trial on retinoblastoma are expected to have follow-ups finalized by the first half of 2024.
With plans to increase R&D expenses due to the enrolment and expansion of clinical trials, the company expects to sustain its cash runway into Q1, 2025.
After enrolling patients in the second cohort for the Phase 1b/2a trial of SYN-004, expectations are for enrolment to complete in Q2, 2024.
Multiple discussions are ongoing regarding potential partnerships for the VCN-01 platform, SYN-004 and SYN-020 programs.
The focus remains on driving program advancement, effective cash management, and strategic options to drive additional shareholder value while delivering promising treatments for difficult to treat cancers.
More details: Theriva Biologics IR
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