Total assets have contracted to $12.4 million as of 2026Q2, while the equity base continues to be eroded by an accumulated deficit of $72.5 million.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Aug'14 | Aug'13 | Aug'12 | Aug'11 | Aug'10 | Apr'09 |
|---|
| Total Current Assets | 10.42M | 11.51M | 1.68M | 6.44M | 9.09M | 12.09M | 8.1M | 5.64M | 10.66M | 6.76M | 12.1M | 9.87M | 14.07M | 8.13M | 1.05M | 4.22M | 2.59M | 242.47K |
| Cash & Short-Term Investments | 10M | 10.79M | 1.04M | 5.36M | 7.09M | 7.84M | 7.21M | 5.03M | 10.3M | 6.57M | 11.41M | 8.97M | 13.89M | 7.86M | 999K | 4.15M | 2M | 238.97K |
| Cash Only | 10M | 10.79M | 1.04M | 5.36M | 7.09M | 7.84M | 7.21M | 5.03M | 4.23M | 4.57M | 7.42M | 3.96M | 13.43M | 7.86M | 999K | 4.15M | 2M | 238.97K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.08M | 1.99M | 3.99M | 5.02M | 458.1K | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 216.47K | 642.87K | 270.91K | 626.54K | 1.26M | 3.3M | 87.45K | 217.1K | 41.25K | 1.29K | 85.81K | 157.6K | 56.58K | 177.72K | 16.92K | 39.02K | 568.5K | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | 97.07 | 192.86 | 71.06 | 2.06 | 24.63 | 75.82 | 55.49 | 118.92 | 21.59 | 20.43 | 242.74 | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -217.1K | 224.27K | 68.11K | 249.43K | 557.28K | 0 | 62.03K | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | 183.82 | 46.52 | 80.72 | 242.08 | - | 39.27 | - | - | - | - |
| Other Current Assets | 197.58K | 77.84K | 367.39K | 448.91K | 0 | 0 | 0 | 0 | 86.92K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 1.97M | 2.02M | 2.14M | 2.45M | 2.48M | 2.49M | 2.66M | 73.06K | 1.12M | 961.56K | 838.15K | 519.31K | 403.29K | 378.84K | 495.73K | 529.53K | 298.34K | 0 |
| Property, Plant & Equipment | 0 | 0 | 18.36K | 100.08K | 31.16K | 111.56K | 174.82K | 73.06K | 1.06M | 879.52K | 756.11K | 503.41K | 387.39K | 246.27K | 332.99K | 338.22K | 89.58K | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | 1.88x | 5.62x | 0.20x | 0.26x | 1.68x | 1.51x | 0.96x | 2.21x | 0.86x | 2.06x | 9.54x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.93M | 1.98M | 2.08M | 2.18M | 2.28M | 2.38M | 2.48M | 0 | 0 | 0 | 0 | 0 | 0 | 116.67K | 145.24K | 173.81K | 200K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46.46K | 66.69K | 66.69K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 39.92K | 39.97K | 41.15K | 173.49K | 171.46K | 0 | 0 | 0 | 15.34K | 15.34K | 15.34K | 15.9K | 15.9K | 15.9K | 17.5K | 17.5K | 8.77K | 0 |
| Total Assets | 12.38M | 13.53M | 3.81M | 8.89M | 11.58M | 14.58M | 10.76M | 5.72M | 11.78M | 7.72M | 12.94M | 10.39M | 14.47M | 8.51M | 1.54M | 4.75M | 2.89M | 242.47K |
| Asset Turnover | 0.00x | - | - | - | - | - | 0.03x | 0.07x | 0.02x | 0.03x | 0.10x | 0.07x | 0.03x | 0.06x | 0.19x | 0.15x | 0.30x | - |
| Asset Growth % | 669.92% | 254.76% | -57.1% | -23.2% | -20.63% | 35.52% | 88.23% | -51.46% | 52.59% | -40.33% | 24.57% | -28.24% | 70.01% | 451.43% | -67.5% | 64.21% | 1093.15% | - |
| Total Current Liabilities | 2.19M | 1.08M | 1.83M | 1.82M | 2.14M | 1.46M | 1.53M | 461.63K | 493.38K | 320.95K | 623.64K | 2.38M | 1.42M | 3.91M | 562.13K | 159.14K | 420.61K | 0 |
| Accounts Payable | 0 | 0 | 1.81M | 1.75M | 2.12M | 1.38M | 1.46M | 424.63K | 493.38K | 320.95K | 623.64K | 157.6K | 0 | 177.72K | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | 795.11 | - | 3.56K | 3.48K | 6.55K | 4.24K | 30.28K | 1.53K | 404.4 | 219.19 | 201.83 | 68.46 | - | 112.51 | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 69.73K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | -2.12M | 0 | -1.46K | 0 | 0 | 0 | 0 | 173.33K | 15K | 0 | 127.48K | 0 | 0 | 0 |
| Other Current Liabilities | 2.19M | 1.08M | 0 | 0 | 2.12M | 0 | -68.27K | 0 | 0 | 0 | 0 | 1.55M | 1.41M | 3.45M | 434.65K | 0 | 0 | 0 |
| Current Ratio | 4.76x | 10.67x | 0.91x | 3.53x | 4.25x | 8.29x | 5.30x | 12.23x | 21.60x | 21.06x | 19.40x | 4.14x | 9.90x | 2.08x | 1.86x | 26.53x | 6.17x | - |
| Quick Ratio | 4.76x | 10.67x | 0.91x | 3.53x | 4.25x | 8.29x | 5.30x | 12.70x | 21.14x | 20.85x | 19.00x | 3.91x | 9.90x | 2.07x | 1.86x | 26.53x | 6.17x | - |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | -149.51 | -170.61 | -96.48 | 249.44 | - | 45.68 | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 126K | 19.77K | 43.66K | 67.71K | 2.6M | 0 | 0 | 0 | 0 | 173.33K | 5.35M | 7.75M | 130.14K | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 94.46K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 19.77K | 0 | 20.51K | 94.46K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 131K | 0 | 126K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 43.66K | 47.2K | 2.41M | 0 | 0 | 0 | 0 | 0 | 5.35M | 7.75M | 130.14K | 0 | 0 | 0 |
| Total Liabilities | 2.19M | 1.08M | 1.83M | 1.84M | 2.18M | 1.53M | 4.13M | 461.63K | 493.38K | 320.95K | 623.64K | 2.38M | 6.77M | 11.65M | 692.27K | 159.14K | 420.61K | 0 |
| Total Debt | 0 | 0 | 19.87K | 94.49K | 18.98K | 99.32K | 164.19K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -10M | -10.79M | -1.02M | -5.27M | -7.07M | -7.74M | -7.05M | -5.03M | -4.23M | -4.57M | -7.42M | -3.96M | -13.43M | -7.86M | -999K | -4.15M | -2M | -238.97K |
| Debt / Equity | 0.00x | - | 0.01x | 0.01x | 0.00x | 0.01x | 0.02x | - | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.92x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -156.57x | -1114.60x |
| Total Equity | 10.2M | 12.45M | 1.98M | 7.05M | 9.39M | 13.06M | 6.63M | 5.26M | 11.29M | 7.4M | 12.31M | 8.01M | 7.7M | -3.14M | 851.61K | 4.59M | 2.47M | 242.47K |
| Equity Growth % | 1403.41% | 528.52% | -71.89% | -24.94% | -28.08% | 96.92% | 26.16% | -53.43% | 52.54% | -39.91% | 53.83% | 3.96% | 345.13% | -468.89% | -81.45% | 85.71% | 919.68% | - |
| Book Value per Share | 1.24 | 2.19 | 0.62 | 2.47 | 4.48 | 7.57 | 5.39 | 8.02 | 23.60 | 310.75 | 58.60 | 42.26 | 42.65 | -25.56 | 8.17 | 50.63 | 66.57 | 25.17 |
| Total Shareholders' Equity | 10.2M | 12.45M | 1.98M | 7.05M | 9.39M | 13.06M | 6.63M | 5.26M | 11.29M | 7.4M | 12.31M | 8.01M | 7.7M | -3.14M | 851.61K | 4.59M | 2.47M | 242.47K |
| Common Stock | 58.93M | 54.52M | 47.24M | 46.64M | 42.47M | 34.89M | 18.5M | 12.01M | 56.65M | 48.35M | 47.28M | 38.11M | 36.24M | 13.18M | 0 | 0 | 0 | 0 |
| Retained Earnings | -72.45M | -65.91M | -58.59M | -52.42M | -44.04M | -26.5M | -13.13M | -6.73M | -50.43M | -45.39M | -40.36M | -35.34M | -33.62M | -25.2M | -10.32M | -8.09M | -138.22K | -95.37K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -186.09K | -165.77K | -242.61K | -214.65K | -213.6K | -205.26K | -287.2K | -342.07K | 5.06M | 4.44M | 5.39M | 0 | 0 | 0 | 1.66M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent Capital Dilution Risk
As reported in financial statements, Edesa Biotech's total assets have declined from $16.5 million in 2025Q2 to $12.4 million in 2026Q2, signaling a persistent contraction in the company's resource base as it funds late-stage clinical trials without any offsetting revenue streams to replenish its capital reserves.
The downward trend in total assets reflects the ongoing consumption of cash to support R&D activities, which is typical for a clinical-stage entity but highlights the narrowing window for operational success. Investors should monitor whether the current asset base can sustain the company through the completion of its EB05 trials without further dilutive financing.
Based on Edesa Biotech's reported figures, the company's cash position has decreased to $10.0 million as of 2026Q2, which, when viewed against the backdrop of consistent quarterly operating losses, suggests a rapidly tightening liquidity buffer that may necessitate an imminent capital raise to maintain ongoing clinical operations.
While the current ratio of 4.76 appears superficially healthy, it is heavily skewed by the lack of significant current liabilities rather than an abundance of liquid assets. The company's reliance on cash reserves to fund its burn rate implies that liquidity is the primary constraint on its ability to advance its pipeline.
According to recent SEC filings, Edesa Biotech's equity base has been significantly eroded by accumulated deficits, which reached $72.5 million by 2026Q2, underscoring the substantial capital destruction inherent in the company's long-term pursuit of regulatory approval for its monoclonal antibody candidates.
The persistent growth of the accumulated deficit indicates that the company has yet to achieve a return on its invested capital, placing the entire burden of value creation on future clinical milestones. Shareholders should be aware that the current equity structure is highly sensitive to the frequent equity issuances required to offset these historical losses.
As indicated by the company's balance sheet, goodwill remains recorded at $1.9 million, a figure that warrants further investigation as it represents a significant portion of the company's total assets despite the lack of commercialized products or proven revenue-generating capabilities from the underlying licensed intellectual property.
The presence of goodwill on the balance sheet of a pre-revenue biotech firm may be misleading, as it assumes the long-term value of acquired assets that have yet to be validated by clinical success. If the EB05 program fails to meet its primary endpoints, this intangible asset could be subject to impairment, further weakening the company's already strained equity position.
Quick answers to the most common questions about buying EDSA stock.
As of 2025, Edesa Biotech, Inc. (EDSA) had total assets of $13.5M including $11.5M in current assets.
Edesa Biotech, Inc. (EDSA) carries total debt of $0.0M, offset by $10.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Edesa Biotech, Inc. (EDSA) has total shareholders' equity (book value) of $12.5M ($2.19 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Edesa Biotech, Inc. (EDSA) reported a current ratio of 10.67x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.