Investment Thesis
Theriva Biologics is a cash-burning pre-revenue biotech company with minimal commercial traction ($300K revenue) and operating losses exceeding -$2.1M, resulting in a -681% net margin. With annual cash burn of $2.5M against a cash balance of $14.4M, the company faces critical runway constraints and no clear path to profitability based on current fundamentals.
Strengths
- Low leverage (0.11x debt-to-equity) limits financial distress risk
- Adequate short-term liquidity (1.63x current ratio) provides near-term stability
- Cash position of $14.4M provides ~5.7 years of runway at current burn rate
Risks
- Severe revenue shortfall ($300K annually) with no meaningful commercialization
- Negative operating cash flow of -$2.5M indicates company is burning cash to fund operations
- Massive operating losses (-709% margin) with no demonstrated path to breakeven
- Limited cash runway relative to typical biotech development timelines
- Zero insider transactions in past 90 days suggests low internal confidence
- Company is likely pre-revenue stage biotech with binary outcome risk
Key Metrics to Watch
- Operating cash burn rate and cash runway remaining
- Revenue growth trajectory and commercialization milestones
- Operating margin progress toward breakeven
- Clinical trial progress and pipeline advancement
- Capital raising activity or dilution events
Financial Metrics
Revenue
300.0K
Net Income
-2.0M
EPS (Diluted)
$-0.05
Free Cash Flow
-2.5M
Total Assets
38.2M
Cash
14.4M
Profitability Ratios
Gross Margin
N/A
Operating Margin
-709.0%
Net Margin
-681.3%
ROE
-13.3%
ROA
-5.3%
FCF Margin
-830.3%
Balance Sheet & Liquidity
Current Ratio
1.63x
Quick Ratio
1.63x
Debt/Equity
0.11x
Debt/Assets
59.7%
Interest Coverage
-132.94x
Long-term Debt
1.7M
Disclaimer: This analysis is generated by AI based on publicly available SEC EDGAR filings.
It does not include stock price data and should not be considered financial advice.
All fundamental data is sourced from SEC public domain filings.
Always conduct your own research before making investment decisions.
Data Source: SEC EDGAR |
Analysis Date: 2026-05-15T10:17:16.800518 |
Data as of: 2026-03-31 |
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