Theriva Biologics secures $4 mln in warrant exercise, reduces exercise price to $0.54 per share.

Theriva Biologics has announced the immediate exercise of warrants to purchase up to 7,360,460 common stocks at a reduced exercise price of $0.54 per share for gross cash proceeds of approximately $4.0 million. The company plans to use the net proceeds for working capital and general corporate purposes. The offer to exercise remains open until 11:30 AM ET for up to an additional $0.4 million in gross proceeds.

Rockville, Md., Oct. 16, 2025 (GLOBE NEWSWIRE) — Theriva™ Biologics (NYSE American: TOVX), a diversified clinical-stage company developing therapeutics for cancer and related diseases, has announced a warrant inducement transaction with existing institutional investors. The company will exercise up to 7,360,460 warrants to purchase common stock at a reduced exercise price of $0.54 per share, generating gross cash proceeds of approximately $4.0 million. The offer to exercise will remain open until 11:30 AM ET for up to an additional $0.4 million in gross proceeds.

In exchange for the immediate exercise of the Existing Warrants, investors will receive new unregistered warrants to purchase up to 14,720,920 common stock shares. These New Warrants will have an exercise price of $0.54 per share and will be initially exercisable upon stockholder approval, with a five-year expiration period. The transaction is expected to close on or about October 17, 2025, subject to customary closing conditions.

Theriva Biologics intends to use the net proceeds from the warrant inducement transaction for working capital and general corporate purposes. The company's lead clinical-stage candidates include VCN-01, an oncolytic adenovirus, and SYN-004, designed to degrade certain IV beta-lactam antibiotics within the GI tract. These products aim to improve antitumor effects and reduce the incidence of acute graft-versus-host-disease (aGVHD) in allogeneic hematopoietic cell transplant recipients.

A.G.P./Alliance Global Partners acted as the exclusive financial advisor in this transaction. The New Warrants were offered in a private placement under an applicable exemption from the registration requirements of the Securities Act, and are not registered with the SEC. They may not be offered or sold in the United States absent registration or an applicable exemption.

For more information about Theriva Biologics, visit the company's website http://www.therivabio.com. The company has agreed to file a registration statement with the SEC covering the resale of common stock issuable upon exercise of the New Warrants.