TOVX Stock Jumps 30% As New Patent, FDA Designation Boost Investor Sentiment

Shares of Theriva Biologics Inc. (TOVX) surged over 30% on Friday, making it one of the top trending tickers on Stocktwits, coming on the heels of several key developments that have caught the attention of retail investors.

The rally began on Thursday after Theriva Biologics announced it had received a notice of allowance for a U.S. patent application related to treating C. difficile and other antibiotic-induced gastrointestinal tract conditions.

Additionally, Theriva recently secured Rare Pediatric Drug Designation (RPDD) from the U.S. FDA for VCN-01, its experimental treatment for retinoblastoma, the most common type of eye cancer in children. The condition affects 200 to 300 children annually in the U.S., mostly infants and young children, according to the American Cancer Society.

“We continue to work closely with leading physicians and regulatory agencies to refine our clinical strategy for VCN-01 as an adjunct to chemotherapy in pediatric patients with advanced retinoblastoma,” Steven A. Shallcross, CEO of Theriva Biologics had said earlier.

He added that the company also reported encouraging results from an investigator-sponsored Phase 1 trial evaluating VCN-01 in pediatric patients with refractory retinoblastoma.

Beyond the scientific advancements, Theriva also executed a 1-for-25 reverse stock split, which began trading on a split-adjusted basis on August 26.

Earlier this month, Theriva reported a Q2 loss of $0.43 per share, significantly narrower than the consensus estimate of a $0.70 loss. The company also said it was committed to expanding its portfolio of therapeutic combinations and reducing cash burn to extend its runway.

These developments have sparked some retail interest, with TOVX’s follower count rising by 1.14% (suggest avoid saying considerable retail interest with 1.14% rise) in the past week, and message volume on Stocktwits jumping significantly.

Despite being down nearly 50% year-to-date, the recent string of positive catalysts has sparked renewed optimism among investors about Theriva’s long-term prospects.

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