The liquidity position has deteriorated significantly, with the current ratio falling from 10.22 in 2025Q2 to 0.88 in 2026Q1, signaling heightened insolvency risk.
| Total Current Assets | 4.05M | 8.1M | 8.66M | 1.59M | 12.56M | 7.48M | 15.5M | 7.89M | 588.13K | 162.19K |
| Cash & Short-Term Investments | 2.95M | 7.2M | 6.46M | 548.72K | 10.06M | 5M | 14.04M | 7.24M | 282.74K | 110.54K |
| Cash Only | 2.95M | 7.2M | 6.46M | 548.72K | 10.06M | 5M | 14.04M | 7.24M | 282.74K | 110.54K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 882.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.1M | 901.79K | 1.31M | 202.86K | 0 | 0 | 0 | 0 | 272.4K | 0 |
| Total Non-Current Assets | 602.1K | 520.66K | 42.44K | 109.68K | 488.47K | 1.28M | 357.57K | 18.16K | 95.2K | 0 |
| Property, Plant & Equipment | 22.01K | 17.7K | 6K | 4.93K | 5.66K | 16.11K | 23.43K | 18.16K | 0 | 0 |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 580.09K | 502.96K | 36.43K | 104.75K | 482.81K | 1.26M | 334.14K | 0 | 95.2K | 0 |
| Total Assets | 4.65M | 8.62M | 8.7M | 1.7M | 13.05M | 8.76M | 15.85M | 7.91M | 683.33K | 162.19K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | - |
| Asset Growth % | 480.68% | -0.89% | 411.56% | -86.97% | 49.05% | -44.76% | 100.37% | 1057.87% | 321.31% | - |
| Total Current Liabilities | 4.58M | 4.1M | 2.52M | 6.13M | 4.92M | 2.14M | 1.91M | 311K | 1.23M | 220.73K |
| Accounts Payable | 4.35M | 0 | 2.2M | 5.83M | 3.68M | 1.52M | 946.33K | 289.5K | 128.87K | 57.5K |
| Days Payables Outstanding | 895.82K | - | 242.7K | 514.93K | 114.32K | 42.53K | 31.13K | 54.05K | - | - |
| Short-Term Debt | 232.35K | 328.57K | 326.07K | 300.81K | 409.97K | 387.79K | 439.29K | 0 | 316.92K | 121.83K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23.6K | 0 |
| Other Current Liabilities | 0 | 3.77M | 0 | 0 | 0 | 0 | 0 | 0 | 739.65K | 0 |
| Current Ratio | 0.88x | 1.98x | 3.43x | 0.26x | 2.55x | 3.50x | 8.13x | 25.38x | 0.48x | 0.73x |
| Quick Ratio | 0.88x | 1.98x | 3.43x | 0.26x | 2.55x | 3.50x | 8.13x | 25.38x | 0.48x | 0.73x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 289.5K | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 4.58M | 4.1M | 2.52M | 6.13M | 4.92M | 2.14M | 1.91M | 311K | 1.23M | 220.73K |
| Total Debt | 232.35K | 328.57K | 326.07K | 300.81K | 409.97K | 387.79K | 439.29K | 0 | 316.92K | 121.83K |
| Net Debt | -2.72M | -6.87M | -6.14M | -247.91K | -9.65M | -4.62M | -13.6M | -7.24M | 34.18K | 11.28K |
| Debt / Equity | 3.29x | 0.07x | 0.05x | - | 0.05x | 0.06x | 0.03x | - | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.16x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -1091.35x | -1039.75x | -920.76x | -1366.54x | -2172.64x | -1560.14x | -2896.63x | -86.65x | -157.29x | -121.27x |
| Total Equity | 70.7K | 4.52M | 6.18M | -4.43M | 8.13M | 6.62M | 13.95M | 7.6M | -549.3K | -58.53K |
| Equity Growth % | 475.17% | -26.78% | 239.36% | -154.5% | 22.82% | -52.52% | 83.5% | 1483.78% | -838.46% | - |
| Book Value per Share | 0.10 | 10.20 | 193.91 | -35293.42 | 179172.40 | 226141.69 | 755376.85 | 415858.43 | -30052.35 | -3202.31 |
| Total Shareholders' Equity | 70.7K | 4.52M | 6.18M | -4.43M | 8.13M | 6.62M | 13.95M | 7.6M | -549.3K | -58.53K |
| Common Stock | 811 | 633 | 1.41K | 6.21K | 1.62K | 27.93K | 23.86K | 16.45K | 12.7K | 10.27K |
| Retained Earnings | -105.21M | -100.28M | -84.42M | -69.57M | -50.72M | -34.98M | -20.95M | -11.49M | -7.61M | -219.36K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital structure dilution risk
As reported in financial statements, CNSP's total assets have contracted from $14.5 million in 2025Q2 to $4.7 million by 2026Q1, signaling a rapid depletion of resources that underscores the company's precarious position as a pre-revenue entity reliant on external funding to sustain its clinical development trajectory.
The consistent decline in total assets over the last three quarters suggests that the company is consuming its capital base at an unsustainable rate relative to its clinical milestones. Investors should monitor whether this trajectory forces a shift toward more aggressive, dilutive financing strategies to maintain the viability of the Berubicin program.
Based on recent SEC filings, the company's current ratio has deteriorated significantly, falling from a peak of 10.22 in 2025Q2 to 0.88 in 2026Q1, which indicates a tightening liquidity position that may limit the firm's ability to meet short-term obligations without immediate capital intervention.
A current ratio below 1.0 suggests that current liabilities now exceed current assets, a development that warrants close scrutiny regarding the company's near-term solvency. This liquidity crunch appears to be a direct consequence of sustained cash burn in the absence of any offsetting revenue streams.
According to historical balance sheet data, equity has plummeted from $13.1 million in 2025Q2 to a mere $70.7K in 2026Q1, reflecting the cumulative impact of persistent net losses and the potential for significant shareholder dilution as the company seeks to replenish its dwindling capital reserves.
The near-total erosion of equity suggests that the company's book value is increasingly disconnected from its operational reality, leaving little cushion for shareholders. This trend implies that future capital raises may be highly dilutive, as the firm lacks the internal earnings generation to support its valuation through organic growth.
As indicated by the provided financial data, the company's asset base is almost entirely devoid of tangible value, with net PPE remaining negligible at $22.0K, which highlights that the enterprise value is tied exclusively to intangible clinical prospects rather than any underlying physical or productive infrastructure.
The lack of meaningful tangible assets suggests that the company's balance sheet provides no downside protection in the event of a clinical failure. Analysts should interpret the asset mix as a pure reflection of speculative R&D investment, where the risk of total impairment remains high.
Quick answers to the most common questions about buying CNSP stock.
As of 2025, CNS Pharmaceuticals, Inc. (CNSP) had total assets of $8.6M including $8.1M in current assets.
CNS Pharmaceuticals, Inc. (CNSP) carries total debt of $0.3M, offset by $7.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CNS Pharmaceuticals, Inc. (CNSP) has total shareholders' equity (book value) of $4.5M ($10.20 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CNS Pharmaceuticals, Inc. (CNSP) reported a current ratio of 1.98x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.