TOVX Theriva Biologics, Inc.

Overview and Growth

In fiscal 2025, Theriva Biologics, Inc. reported net loss of $25.25M. The company reported diluted EPS of -$2.08, adding a shareholder-level measure to the absolute income figures considered below. The diluted weighted-average share count was 12.14M, linking total earnings with the per-share result received by shareholders. Compared with 1.35M diluted shares in fiscal 2024, the current 12.14M base was 800.6% higher. Total assets stood at $38.24M, showing the scale of resources supporting revenue, earnings, liquidity, and financing.

Profitability

The reported operating result was an operating loss of $24.05M, reflecting costs that exceeded gross profit. After all below-operating-line items, the company recorded a net loss of $25.25M for the fiscal year. EBITDA was negative $23.94M, showing a deficit before interest, taxes, depreciation, and amortization. Before income taxes, the company recorded a loss of $23.74M, bridging the operating result to the final net loss. The net loss equaled 164.1% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 66.0%, placing the bottom-line deficit against the company’s resource base. The net loss narrowed to $25.25M from $25.65M in fiscal 2024.

Liquidity and Capital Structure

Total assets were $38.24M, supported by $22.86M of liabilities and $15.38M of shareholder equity. At period end, current assets of $17.47M compared with current liabilities of $10.01M, defining the company’s short-term resource position. At 1.74x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $13.06M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 130.4% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $1.67M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.11x, showing how much debt the company carried for each unit of book equity. Debt represented 4.4% of total assets, placing borrowing in the context of the company’s full resource base. Book equity represented 40.2% of total assets, quantifying the balance-sheet share supported by shareholder capital. Relative to total assets, liabilities measured 59.8%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 34.1%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 8.2% higher than fiscal 2024 assets of $35.35M, measuring the company’s own balance-sheet change. Reported equity changed 19.3% from $19.07M in fiscal 2024, placing the current capital base lower year over year. Cash and equivalents were 12.5% higher than fiscal 2024 cash of $11.61M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $16.67M, rather than cash generation from operations. The company spent $35.00K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. Operating cash flow and capital spending combined to leave a $16.70M cash deficit after capital spending. The free-cash-flow deficit equaled 43.7% of total assets, placing the cash shortfall against the company’s resource base. Cash absorbed by operations decreased from $16.94M in fiscal 2024 to $16.67M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.