Comprehensive Stock Comparison
Compare Theriva Biologics, Inc. (TOVX) vs Armata Pharmaceuticals, Inc. (ARMP) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Stability / Safety |  ARMP | Beta 0.21 vs TOVX's 0.80 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | ARMP | +474.8% vs TOVX's -86.1% |
| Efficiency (ROA) | ARMP | -52.4% ROA vs TOVX's -84.9%, ROIC -44.2% vs -142.7% |
Who Each Stock Is For
Income & stability
ARMPDividend streak 0 yrs, beta 0.21
Growth exposure
ARMPRev growth 14.2%, EPS growth 72.6%, 3Y rev CAGR 5.0%
Long-term compounding (10Y)
ARMP-98.0% 10Y total return vs TOVX's -100.0%
Sleep-well-at-night portfolio
ARMPLower volatility, beta 0.21, current ratio 0.23x
Defensive / Recession hedge
ARMPBeta 0.21, current ratio 0.23x
Business Model
What each company does and how it makes money
Theriva Biologics is a clinical-stage biopharmaceutical company developing novel therapeutics for diseases with high unmet medical need, particularly in oncology and gastrointestinal disorders. It generates revenue primarily through research collaborations and licensing agreements — though as a pre-revenue clinical-stage company, it currently relies on equity financing and grants to fund operations. The company's competitive advantage lies in its proprietary platform technologies for developing targeted biologics and its focus on niche therapeutic areas where existing treatments are inadequate.
Armata Pharmaceuticals is a clinical-stage biotech company developing targeted bacteriophage therapies to treat antibiotic-resistant bacterial infections. It generates revenue primarily through research collaborations and partnerships — like its Merck deal — while advancing its pipeline of phage-based candidates through clinical trials. The company's key advantage is its proprietary bacteriophage platform technology, which offers a novel approach to targeting specific drug-resistant pathogens.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
ARMP 3
TOVX 1TOVX1/1 metricsARMP1/1 metricsARMP6/6 metricsARMP2/2 metricsARMP leads in 3 of 6 categories (Valuation Metrics, Total Returns). TOVX leads in 1 (Financial Metrics). 1 tied.
Financial Metrics (TTM)
ARMP and TOVX operate at a comparable scale, with $5M and $0 in trailing revenue.
| Metric | TOVXTheriva Biologics… | ARMPArmata Pharmaceut… |
|---|---|---|
| RevenueTrailing 12 months | $0 | $5M |
| EBITDAEarnings before interest/tax | -$26M | -$32M |
| Net IncomeAfter-tax profit | -$26M | -$47M |
| Free Cash FlowCash after capex | -$19M | -$27M |
| Gross MarginGross profit ÷ Revenue | — | +70.5% |
| Operating MarginEBIT ÷ Revenue | — | -6.6% |
| Net MarginNet income ÷ Revenue | — | -9.3% |
| FCF MarginFCF ÷ Revenue | — | -5.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | -61.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +93.4% | -3.9% |
Valuation Metrics
| Metric | TOVXTheriva Biologics… | ARMPArmata Pharmaceut… |
|---|---|---|
| Market CapShares × price | $252,100 | $420M |
| Enterprise ValueMkt cap + debt − cash | -$10M | $537M |
| Trailing P/EPrice ÷ TTM EPS | -0.01x | -22.19x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | — | 81.14x |
| Price / BookPrice ÷ Book value/share | 0.01x | — |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), ARMP scores 2/9 vs TOVX's 1/9, reflecting mixed financial health.
| Metric | TOVXTheriva Biologics… | ARMPArmata Pharmaceut… |
|---|---|---|
| ROE (TTM)Return on equity | -3.9% | — |
| ROA (TTM)Return on assets | -84.9% | -52.4% |
| ROICReturn on invested capital | -142.7% | -44.2% |
| ROCEReturn on capital employed | -69.1% | -70.7% |
| Piotroski ScoreFundamental quality 0–9 | 1 | 2 |
| Debt / EquityFinancial leverage | 0.08x | — |
| Net DebtTotal debt minus cash | -$10M | $117M |
| Cash & Equiv.Liquid assets | $12M | $9M |
| Total DebtShort + long-term debt | $2M | $127M |
| Interest CoverageEBIT ÷ Interest expense | — | -2.12x |
Total Returns (with DRIP)
A $10,000 investment in ARMP five years ago would be worth $25,857 today (with dividends reinvested), compared to $14 for TOVX. Over the past 12 months, ARMP leads with a +474.8% total return vs TOVX's -86.1%. The 3-year compound annual growth rate (CAGR) favors ARMP at 56.0% vs TOVX's -79.4% — a key indicator of consistent wealth creation.
| Metric | TOVXTheriva Biologics… | ARMPArmata Pharmaceut… |
|---|---|---|
| YTD ReturnYear-to-date | -28.1% | +77.0% |
| 1-Year ReturnPast 12 months | -86.1% | +474.8% |
| 3-Year ReturnCumulative with dividends | -99.1% | +279.4% |
| 5-Year ReturnCumulative with dividends | -99.9% | +158.6% |
| 10-Year ReturnCumulative with dividends | -100.0% | -98.0% |
| CAGR (3Y)Annualised 3-year return | -79.4% | +56.0% |
Risk & Volatility
ARMP is the less volatile stock with a 0.21 beta — it tends to amplify market swings less than TOVX's 0.80 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. ARMP currently trades 71.1% from its 52-week high vs TOVX's 12.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TOVXTheriva Biologics… | ARMPArmata Pharmaceut… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.80x | 0.21x |
| 52-Week HighHighest price in past year | $1.50 | $16.34 |
| 52-Week LowLowest price in past year | $0.16 | $0.90 |
| % of 52W HighCurrent price vs 52-week peak | +12.5% | +71.1% |
| RSI (14)Momentum oscillator 0–100 | 47.8 | 71.9 |
| Avg Volume (50D)Average daily shares traded | 11.6M | 50K |
Analyst Outlook
| Metric | TOVXTheriva Biologics… | ARMPArmata Pharmaceut… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | $9.00 |
| # AnalystsCovering analysts | — | 4 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Mar 26 | Change |
|---|---|---|---|
| Theriva Biologics, … (TOVX) | 100 | 0.18 | -99.8% |
| Armata Pharmaceutic… (ARMP) | 100 | 303.72 | +203.7% |
Armata Pharmaceutic… (ARMP) returned +159% over 5 years vs Theriva Biologics, … (TOVX)'s -100%. A $10,000 investment in ARMP 5 years ago would be worth $25,857 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Theriva Biologics, … (TOVX) | $0.00 | $0.00 | — |
| Armata Pharmaceutic… (ARMP) | $475000.00 | $5M | +989.3% |
Theriva Biologics, Inc.'s revenue grew from $0M (2015) to $0M (2024) — a 0.0% CAGR. Armata Pharmaceuticals, Inc.'s revenue grew from $0M (2015) to $5M (2024) — a 30.4% CAGR.
Chart 3EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Theriva Biologics, … (TOVX) | -189.68 | -19.03 | +90.0% |
| Armata Pharmaceutic… (ARMP) | -278.6 | -0.52 | +99.8% |
Theriva Biologics, Inc.'s EPS grew from $-189.68 (2015) to $-19.03 (2024). Armata Pharmaceuticals, Inc.'s EPS grew from $-278.60 (2015) to $-0.52 (2024).
Chart 4Free Cash Flow — 5 Years
Theriva Biologics, Inc. generated $-17M FCF in 2024 (-31% vs 2021). Armata Pharmaceuticals, Inc. generated $-39M FCF in 2024 (-58% vs 2021).
TOVX vs ARMP: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is TOVX or ARMP a better buy right now?
Analysts rate Armata Pharmaceuticals, Inc. (ARMP) a "Buy" — based on 4 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — TOVX or ARMP?
Over the past 5 years, Armata Pharmaceuticals, Inc. (ARMP) delivered a total return of +158.6%, compared to -99.9% for Theriva Biologics, Inc. (TOVX). A $10,000 investment in ARMP five years ago would be worth approximately $26K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ARMP returned -98.0% versus TOVX's -100.0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — TOVX or ARMP?
By beta (market sensitivity over 5 years), Armata Pharmaceuticals, Inc. (ARMP) is the lower-risk stock at 0.21β versus Theriva Biologics, Inc.'s 0.80β — meaning TOVX is approximately 276% more volatile than ARMP relative to the S&P 500.
04Which has better profit margins — TOVX or ARMP?
Theriva Biologics, Inc. (TOVX) is the more profitable company, earning 0.0% net margin versus -365.6% for Armata Pharmaceuticals, Inc. — meaning it keeps 0.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TOVX leads at 0.0% versus -820.2% for ARMP. At the gross margin level — before operating expenses — TOVX leads at 0.0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — TOVX or ARMP?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is TOVX or ARMP better for a retirement portfolio?
For long-horizon retirement investors, Armata Pharmaceuticals, Inc. (ARMP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.21)). Both have compounded well over 10 years (ARMP: -98.0%, TOVX: -100.0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between TOVX and ARMP?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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