Theriva Biologics receives EMA approval for VCN-01 Phase 3 trial
Theriva Biologics Inc's stock is down 5.28% in pre-market trading, crossing below the 20-day SMA, despite the Nasdaq-100 rising 0.98% and the S&P 500 gaining 0.56%.
The decline comes amid the company's recent announcement of receiving EMA approval for the Phase 3 trial design of VCN-01 in combination with gemcitabine/nab-paclitaxel for metastatic pancreatic cancer. This approval is expected to significantly enhance patient survival and treatment outcomes, providing a strong foundation for future growth. However, the stock's movement suggests sector rotation as investors reassess their positions in light of the broader market gains.
This EMA approval marks a critical step for Theriva, as it not only validates the potential of VCN-01 but also ensures the company has sufficient funding to support its clinical trials until 2027, thereby strengthening its competitive position in the oncology market.
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