The firm's financial position is increasingly vulnerable, evidenced by a decline in total assets from $14.5 million in 2025Q3 to $8.4 million in 2026Q1.
| Total Current Assets | 8.09M | 11.23M | 517.93K | 74.37K |
| Cash & Short-Term Investments | 4.02M | 4.97M | 148.89K | 74.37K |
| Cash Only | 4.02M | 4.97M | 148.89K | 74.37K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 4.08M | 6.25M | 367.87K | 0 |
| Total Non-Current Assets | 317.57K | 352.62K | 0 | 0 |
| Property, Plant & Equipment | 317.57K | 352.62K | 0 | 0 |
| Fixed Asset Turnover | 0.00x | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 |
| Total Assets | 8.41M | 11.58M | 517.93K | 74.37K |
| Asset Turnover | 0.00x | - | - | - |
| Asset Growth % | 978.83% | 2135.83% | 596.47% | - |
| Total Current Liabilities | 128.73K | 137.03K | 14.57K | 14.28K |
| Accounts Payable | 8.4K | 2.43K | 5K | 0 |
| Days Payables Outstanding | - | - | - | - |
| Short-Term Debt | 107.09K | 122.69K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 21.64K | 14.34K | 0 | -600 |
| Current Ratio | 62.87x | 81.93x | 35.54x | 5.21x |
| Quick Ratio | 62.87x | 81.93x | 35.54x | 5.21x |
| Cash Conversion Cycle | - | - | - | - |
| Total Non-Current Liabilities | 203.91K | 224.01K | 0 | 0 |
| Long-Term Debt | 203.91K | 224.01K | 0 | 0 |
| Capital Lease Obligations | 5.82K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Liabilities | 332.64K | 361.04K | 14.57K | 14.28K |
| Total Debt | 311K | 346.7K | 0 | 0 |
| Net Debt | -3.71M | -4.63M | -148.89K | -74.37K |
| Debt / Equity | 0.04x | 0.03x | - | - |
| Debt / EBITDA | -0.04x | - | - | - |
| Net Debt / EBITDA | 0.52x | - | - | - |
| Interest Coverage | -13.77x | -496.55x | - | - |
| Total Equity | 8.08M | 11.22M | 503.36K | 60.09K |
| Equity Growth % | 2051.33% | 2128.84% | 737.68% | - |
| Book Value per Share | 0.29 | 0.44 | 0.02 | 0.00 |
| Total Shareholders' Equity | 8.08M | 11.22M | 503.36K | 60.09K |
| Common Stock | 2.84K | 2.83K | 2.4K | 60 |
| Retained Earnings | -8M | -4.85M | -622.45K | -260.94K |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Insufficient capital for development
As reported in recent financial filings, Curanex's total assets have declined from $14.5 million in 2025Q3 to $8.4 million in 2026Q1, signaling a rapid contraction in the firm's resource base as it struggles to fund its clinical development pipeline without any offsetting commercial revenue streams.
The downward trend in total assets suggests that the company is consuming its capital reserves at an unsustainable pace relative to its clinical progress. Investors should monitor whether this trajectory forces a pivot toward dilutive financing or a significant reduction in the scope of its therapeutic research.
Based on the 2026Q1 balance sheet, Curanex holds $4.0 million in cash, which represents a significant reduction from the $5.8 million reported in 2025Q3, indicating that the company's liquidity buffer is rapidly depleting as it attempts to navigate the complex FDA botanical drug development pathway.
While the current ratio of 62.87 appears high, it is largely a function of minimal current liabilities rather than robust liquidity. This suggests that the firm's ability to meet upcoming R&D obligations is precarious and highly dependent on the timing of future capital raises.
According to the company's balance sheet data, retained earnings have plummeted to a deficit of $8.0 million as of 2026Q1, reflecting years of persistent operational losses that have significantly eroded the firm's equity base and diminished the value attributable to common shareholders.
The deepening deficit highlights the lack of commercial success since the company's inception, suggesting that the equity structure is primarily supported by external capital injections rather than internal value creation. This trend warrants further investigation into the potential for future share dilution to cover ongoing operational shortfalls.
As indicated by the 2026Q1 financial statements, the company's asset base is heavily skewed toward cash with negligible net PPE of $317.6K, which may suggest that Curanex lacks the internal manufacturing infrastructure required to scale its botanical drug candidates to meet rigorous pharmaceutical standards.
The reliance on minimal physical assets implies that the firm may be overly dependent on third-party manufacturing or research partners, which introduces significant operational and quality control risks. This asset-light profile may appear efficient, but it potentially masks the high costs and technical hurdles inherent in botanical drug production.
Quick answers to the most common questions about buying CURX stock.
As of 2025, Curanex Pharmaceuticals Inc Common Stock (CURX) had total assets of $11.6M including $11.2M in current assets.
Curanex Pharmaceuticals Inc Common Stock (CURX) carries total debt of $0.3M, offset by $5.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Curanex Pharmaceuticals Inc Common Stock (CURX) has total shareholders' equity (book value) of $11.2M ($0.44 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Curanex Pharmaceuticals Inc Common Stock (CURX) reported a current ratio of 81.93x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.