The firm maintains a debt-free capital structure but has seen total assets contract from $6.7 million in 2024Q1 to $5.2 million by 2026Q1 due to persistent capital erosion.
| Total Current Assets | 4.8M | 6.18M | 4.06M | 3.2M | 4.78M | 6.46M | 5.14M | 7.67M | 4.69M | 27.25K | 141.41K | 205.55K |
| Cash & Short-Term Investments | 4.58M | 5.88M | 3.75M | 2.83M | 4M | 6.06M | 4.4M | 6.78M | 3.87M | 18.25K | 87.99K | 162.38K |
| Cash Only | 4.58M | 5.88M | 3.75M | 2.83M | 4M | 6.06M | 4.4M | 6.78M | 3.87M | 18.25K | 87.99K | 162.38K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 41.76K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 35.12K | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 218.85K | 257.91K | 308.24K | 371.6K | 349.44K | 389.5K | 501.69K | 359.5K | 317.55K | 9K | 0 | 43.17K |
| Total Non-Current Assets | 424.37K | 617.48K | 985.18K | 1.54M | 952.87K | 1.17M | 355.61K | 6.17K | 6.74K | 7.3K | 10.11K | 10.68K |
| Property, Plant & Equipment | 0 | 0 | 0 | 3.91K | 244.42K | 304.36K | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 248.97K | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.64K | 2.78K | 3.35K | 3.91K | 4.48K | 5.04K | 5.61K | 6.17K | 6.74K | 7.3K | 7.86K | 8.43K |
| Long-Term Investments | 1.21M | 489.7K | 981.83K | 1.53M | 0 | 0 | 350K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 421.73K | 0 | 0 | -3.91K | 703.97K | 455K | 0 | 0 | 0 | 0 | 2.25K | 2.25K |
| Total Assets | 5.23M | 6.8M | 5.04M | 4.74M | 5.73M | 7.63M | 5.49M | 7.68M | 4.7M | 34.55K | 151.53K | 216.22K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | - | - | - |
| Asset Growth % | 108.01% | 34.78% | 6.48% | -17.37% | -24.9% | 39.01% | -28.49% | 63.42% | 13502.98% | -77.2% | -29.92% | - |
| Total Current Liabilities | 1.51M | 1.4M | 975.86K | 653.08K | 1.79M | 2.72M | 1.51M | 539.05K | 257.97K | 1.03M | 255.02K | 53.08K |
| Accounts Payable | 573.57K | 655.21K | 250.13K | 127.39K | 276.41K | 286.19K | 648.74K | 190.2K | 99.67K | 342.08K | 20.01K | 37.48K |
| Days Payables Outstanding | 1.59M | - | - | 82.44K | - | - | 419.84K | 122.88K | 64.62K | 220.99K | 12.93K | 24.22K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 49.59K | 0 | 0 | 0 | 689.26K | 234.25K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 936.5K | 81.39K | 405.25K | 525.69K | 1.08M | 1.87M | 534.2K | 84.93K | 132.34K | 752 | 752 | 15.6K |
| Current Ratio | 3.18x | 4.42x | 4.16x | 4.90x | 2.67x | 2.37x | 3.41x | 14.24x | 18.19x | 0.03x | 0.55x | 3.87x |
| Quick Ratio | 3.18x | 4.42x | 4.16x | 4.90x | 2.67x | 2.37x | 3.41x | 14.24x | 18.19x | 0.03x | 0.55x | 3.87x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 125K | 0 | 437 | 665.44K | 1.4M | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 150.55K | 207.38K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 125K | 125K | 0 | 437 | 22.9K | 182.31K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 492K | 1.01M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 1.51M | 1.52M | 975.86K | 653.51K | 2.46M | 4.13M | 1.51M | 539.05K | 257.97K | 1.03M | 255.02K | 53.08K |
| Total Debt | 0 | 0 | 0 | 0 | 207.38K | 256.96K | 0 | 0 | 0 | 689.26K | 234.25K | 0 |
| Net Debt | -4.58M | -5.88M | -3.75M | -2.83M | -3.79M | -5.81M | -4.4M | -6.78M | -3.87M | 671.02K | 146.26K | -162.38K |
| Debt / Equity | 0.00x | - | - | - | 0.06x | 0.07x | - | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.61x | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | -8.97x | -6.88x | -42.58x | - |
| Total Equity | 3.72M | 5.28M | 4.07M | 4.08M | 3.28M | 3.51M | 3.99M | 7.14M | 4.44M | -997.55K | -103.49K | 163.15K |
| Equity Growth % | 111.79% | 29.7% | -0.38% | 24.63% | -6.59% | -12% | -44.18% | 60.78% | 545.22% | -863.88% | -163.44% | - |
| Book Value per Share | 2.71 | 7.89 | 5.47 | 71.66 | 77.06 | 117.94 | 199.89 | 452.97 | 583.23 | -113.88 | -13.54 | 21.32 |
| Total Shareholders' Equity | 3.72M | 5.28M | 4.07M | 4.08M | 3.28M | 3.51M | 3.99M | 7.14M | 4.44M | -997.55K | -103.49K | 163.15K |
| Common Stock | 1.51K | 1.11K | 6.47K | 1.66K | 1.07K | 20.95K | 14.39K | 10.37K | 6.86K | 3.27K | 9.83M | 9.68M |
| Retained Earnings | -91.99M | -89.97M | -82M | -68.8M | -63.67M | -50.94M | -31.52M | -20.63M | -12.04M | -403.99K | -9.94M | -9.52M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -596.83K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical Trial Funding Shortfall
According to recent quarterly filings, ADIL's total assets have contracted from $6.7 million in 2024Q1 to $5.2 million by 2026Q1, reflecting a persistent reliance on cash reserves to fund clinical development in the absence of any meaningful revenue generation or operational self-sufficiency.
The downward trend in total assets suggests that the company is consuming its primary resource base to sustain R&D activities. This trajectory implies that without a successful clinical milestone or external capital injection, the firm's ability to maintain its current research pace may become increasingly constrained.
As reported in financial statements, ADIL's cash position has fluctuated significantly, dropping to $4.6 million in 2026Q1 from a peak of $5.9 million in 2025Q4, which highlights the precarious nature of the company's liquidity buffer as it navigates the high costs of clinical trial management.
While the current ratio of 3.18 appears superficially healthy, it is heavily skewed by the limited nature of current liabilities rather than robust cash inflows. Investors should monitor the burn rate closely, as the current cash balance may provide only a narrow window for achieving critical regulatory milestones.
Based on ADIL's reported figures, retained earnings have deteriorated to a deficit of $92.0 million as of 2026Q1, illustrating the substantial historical capital investment required to advance the AD04 program without yet achieving a commercialized product or sustainable revenue stream.
The persistent growth of the accumulated deficit indicates that the company is effectively trading equity value for clinical data. This structure suggests that shareholders remain exposed to ongoing dilution risks as the firm continues to finance its operations through capital markets rather than internal cash generation.
Data from recent SEC filings indicates that ADIL's asset base is almost entirely composed of cash, with negligible tangible assets or intellectual property capitalization, which suggests that the company's valuation is tethered exclusively to the speculative success of its clinical-stage pipeline rather than tangible book value.
The near-total absence of PPE and the minimal goodwill reported imply that the company has not built a physical infrastructure moat, leaving it highly vulnerable to clinical trial outcomes. This asset-light profile warrants further investigation into whether the company possesses the necessary operational capacity to scale if AD04 receives regulatory approval.
Quick answers to the most common questions about buying ADIL stock.
As of 2025, Adial Pharmaceuticals, Inc. (ADIL) had total assets of $6.8M including $6.2M in current assets.
Adial Pharmaceuticals, Inc. (ADIL) carries total debt of $0.0M, offset by $5.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Adial Pharmaceuticals, Inc. (ADIL) has total shareholders' equity (book value) of $5.3M ($7.89 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Adial Pharmaceuticals, Inc. (ADIL) reported a current ratio of 4.42x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.