Theriva Biologics Inc. Common Stock (TOVX)

FairStock Score: 68/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Theriva as a Graham-style analyst, and the first question is whether there is a business with durable earnings. The answer here is no. Theriva is a 15-employee clinical-stage biotech developing VCN-01 for pancreatic, head and neck, ovarian, colorectal, and other cancers. It has no approved product. Filed figures show no revenue in most periods; in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $300,000, while net loss was $2.0M. In fiscal Q2 2026, the quarter ended 2026-06-30, net loss was $3.2M. Full-year losses were $23.7M in FY2025, $25.7M in FY2024, and $18.3M in FY2023. That is not an earnings record; it is a cash-consumption record. Financial health confirms the strain. FairStock's trailing free cash flow is -$12.8M, a FCF yield of -126.4% against the $10.1M market cap at the 2026-10-13 close. The Piotroski F-Score is 1/9, the Altman Z-Score is -14.49, ROE is -101.87%, and ROCE is -21.34%. The D/E of 0.29 is not alarming by itself, but biotech financing risk remains. Valuation is the only apparent attraction. FairStock's P/B is 0.81, and its Graham Number is $2.96 versus a $0.22 price, a 92.57% margin of safety. But the P/E of 0.15 and EPS of $1.44 conflict with the filed losses, so I would treat them as artifacts. A low price against book or a formula is not a moat. The moat is nonexistent; value depends on clinical trial outcomes. Growth is optionality, not proven.

In plain English: Theriva Biologics is a tiny drug-development company with 15 employees. It is testing cancer treatments, but it has no approved products and keeps losing money; in its latest filed quarter it lost $3.2 million. The stock is very low compared with some accounting values, but the business is not yet profitable and burns cash, so it looks speculative rather than clearly cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer