Theriva Biologics (TOVX) Stock Surges on Cancer Trial Breakthrough – What’s Next?
Theriva’s Stock Swing: In mid-October, Theriva’s Nasdaq-traded shares spiked on news of clinical success. On Oct. 15 the stock jumped from roughly $0.44 to $0.84 intraday ts2.tech, an increase of about 92%. This surge coincided with reports that VCN-01 had met the primary endpoints in the VIRAGE Phase 2b trial (see below). The very next trading day, Theriva disclosed a $4.0 million warrant inducement financing. Investors exercising warrants at $0.54 per share provided immediate cash ts2.tech, but the announcement also trimmed the earlier stock rally – TOVX settled in the mid-$0.40 range by Oct. 16 ts2.tech ts2.tech. In the days