Shareholder equity has eroded to $1.8 million as of 2026Q1, reflecting a significant accumulation of $41.5 million in deficits that underscores the firm's precarious financial position.
| Total Current Assets | 2.86M | 4.32M | 10.11M | 8.49M | 727.6K |
| Cash & Short-Term Investments | 2.31M | 4.01M | 10.02M | 8.4M | 32.59K |
| Cash Only | 2.31M | 4.01M | 10.02M | 8.4M | 32.59K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 5.47K | 5.1K | 38.15K | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 541.68K | 306.48K | 14.45K | 0 | 672.29K |
| Total Non-Current Assets | 6.79K | 7.34K | 10.74K | 27.08K | 50.58K |
| Property, Plant & Equipment | 4.62K | 5.17K | 6.94K | 23.29K | 44.59K |
| Fixed Asset Turnover | 0.00x | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.17K | 2.17K | 3.79K | 3.79K | -526.01K |
| Total Assets | 2.86M | 4.33M | 10.12M | 8.52M | 778.17K |
| Asset Turnover | 0.00x | - | - | - | - |
| Asset Growth % | -124.37% | -57.26% | 18.83% | 994.77% | - |
| Total Current Liabilities | 1.06M | 1.59M | 2.68M | 826.88K | 1.33M |
| Accounts Payable | 824.81K | 650.66K | 1.5M | 167.32K | 404.9K |
| Days Payables Outstanding | 284.94K | - | - | - | 116.74K |
| Short-Term Debt | 0 | 0 | 0 | 0 | 43.73K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 240.14K | 937.32K | 1.18M | 596.13K | 605.29K |
| Current Ratio | 2.68x | 2.72x | 3.77x | 10.27x | 0.55x |
| Quick Ratio | 2.68x | 2.72x | 3.77x | 10.27x | 0.55x |
| Cash Conversion Cycle | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 4.99M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 553.34K |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 21.35K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 4.42M |
| Total Liabilities | 1.06M | 1.59M | 2.68M | 826.88K | 6.33M |
| Total Debt | 0 | 0 | 0 | 21.35K | 640.71K |
| Net Debt | -2.31M | -4.01M | -10.02M | -8.38M | 608.12K |
| Debt / Equity | 0.00x | - | - | 0.00x | - |
| Debt / EBITDA | -0.00x | - | - | - | - |
| Net Debt / EBITDA | 0.19x | - | - | - | - |
| Interest Coverage | - | - | - | -487.69x | -61.69x |
| Total Equity | 1.8M | 2.74M | 7.44M | 7.69M | -5.55M |
| Equity Growth % | -145.96% | -63.19% | -3.29% | 238.57% | - |
| Book Value per Share | 0.75 | 1.37 | 6.10 | 8.86 | -7.16 |
| Total Shareholders' Equity | 1.8M | 2.74M | 7.44M | 7.69M | -5.55M |
| Common Stock | 2.51K | 2.34K | 1.78K | 13.02K | 8.19K |
| Retained Earnings | -41.46M | -38.96M | -25.72M | -15.07M | -6.71M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Binary clinical trial dependency
According to recent financial statements, CVKD's total assets have contracted from $10.1 million in 2024Q4 to $2.9 million by 2026Q1, signaling a rapid depletion of resources as the company funds its clinical development programs without any offsetting revenue streams to stabilize the balance sheet trajectory.
The consistent decline in total assets reflects a business model entirely dependent on external capital injections to sustain operations. This downward trend suggests that the company is approaching a critical juncture where the current asset base may no longer support the necessary scale of upcoming Phase 3 clinical trial activities.
Based on reported figures, the company's cash position has dwindled to $2.3 million as of 2026Q1, down from $10.0 million in 2024Q4, which indicates a tightening liquidity buffer that may necessitate immediate and potentially dilutive financing to maintain operations through the next phase of clinical development.
While the current ratio of 2.68 appears superficially healthy, it masks the reality of a company with no revenue and high fixed cash burn. Investors should monitor the cash runway closely, as the current liquidity profile leaves little room for operational delays or unexpected increases in trial-related expenditures.
As indicated by the company's reported figures, accumulated deficit has expanded to $41.5 million by 2026Q1, driving total equity down to $1.8 million and highlighting the significant erosion of shareholder value inherent in the company's current pre-revenue, high-burn development stage.
The persistent growth in the accumulated deficit underscores the ongoing cost of R&D and administrative overhead. This trend suggests that future equity value remains highly sensitive to the success of clinical milestones, as the company lacks the retained earnings buffer to absorb potential setbacks in the regulatory process.
Based on the provided balance sheet data, the company's asset base is almost entirely composed of cash, with negligible investment in property, plant, or equipment, which suggests that the firm's true value is tied exclusively to intangible clinical assets that are not explicitly captured on the balance sheet.
The lack of tangible assets implies that the company's valuation is entirely speculative and contingent upon the successful development of Tecarfarin. This structure creates a binary risk profile where any impairment of the lead clinical candidate would likely result in a near-total loss of the company's reported asset value.
Quick answers to the most common questions about buying CVKD stock.
As of 2025, Cadrenal Therapeutics, Inc. Common Stock (CVKD) had total assets of $4.3M including $4.3M in current assets.
Cadrenal Therapeutics, Inc. Common Stock (CVKD) carries total debt of $0.0M, offset by $4.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Cadrenal Therapeutics, Inc. Common Stock (CVKD) has total shareholders' equity (book value) of $2.7M ($1.37 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Cadrenal Therapeutics, Inc. Common Stock (CVKD) reported a current ratio of 2.72x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.