Solvency risks are elevated as the current ratio has collapsed to 0.17, while goodwill now accounts for $24.1 million of the $48.6 million in total assets.
| Total Current Assets | 2.6M | 83.48M | 4.96M | 3.41M | 9.42M | 7.87M | 3.41M | 4.8M | 1.95M | 2.96M | 2.07M | 663.45K | 933 |
| Cash & Short-Term Investments | 899.78K | 163.48K | 3.71M | 1.36M | 8.25M | 6.06M | 175.8K | 1.11M | 573.47K | 1.77M | 638.52K | 219.91K | 48 |
| Cash Only | 899.78K | 163.48K | 3.71M | 1.36M | 8.25M | 6.06M | 175.8K | 1.11M | 573.47K | 1.77M | 581.67K | 94.84K | 48 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57 | 125 | 0 |
| Accounts Receivable | 1.31M | 0 | 0 | 93.01K | 0 | 551.49K | 2.64M | 3.17M | 298.47K | 961.04K | 1.07M | 428.75K | 0 |
| Days Sales Outstanding | 13.18K | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 387.04K | 83.17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 885 |
| Total Non-Current Assets | 45.96M | 1.93M | 1.93M | 2.03M | 2.37M | 5.05M | 5.49M | 2.67M | 4.6M | 3.79M | 4.62M | 5.91M | 61 |
| Property, Plant & Equipment | 0 | 126.75K | 210K | 303.1K | 409.31K | 92.57K | 159.78K | 128.85K | 133.99K | 151.62K | 176.32K | 211.72K | 43 |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Goodwill | 24.12M | 1.68M | 1.68M | 1.68M | 1.91M | 2.05M | 1.89M | 1.92M | 2.02M | 1.77M | 1.83M | 2.04M | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 2.88M | 3.41M | 570.48K | 1.35M | 1.84M | 2.58M | 3.64M | 0 |
| Long-Term Investments | 0 | 21.52K | 21.52K | 21.51K | 0 | 0 | 0 | 0 | 1.07M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 21.84M | 98.25K | 11.25K | 18.15K | 44.01K | 27.92K | 41.05K | 45.23K | 30.92K | 34.68K | 25.64K | 20.32K | 17 |
| Total Assets | 48.55M | 85.41M | 6.88M | 5.44M | 11.79M | 12.92M | 8.9M | 7.47M | 6.55M | 6.75M | 6.69M | 6.58M | 994 |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | - | - | - | - |
| Asset Growth % | -43.15% | 1140.84% | 26.54% | -53.86% | -8.77% | 45.16% | 19.19% | 14.02% | -3.01% | 1.02% | 1.67% | 661509.8% | - |
| Total Current Liabilities | 15.16M | 27.55M | 3.13M | 2.48M | 12.3M | 15.55M | 4.29M | 3M | 2.48M | 2.34M | 8.82M | 2.43M | 736 |
| Accounts Payable | 3.38M | 2.96M | 554.28K | 720.04K | 2.68M | 14.81M | 2.22M | 2.2M | 1.57M | 0 | 0 | 0 | 522 |
| Days Payables Outstanding | - | - | 6.91K | 2.47K | 1.82K | 9.46K | 828.25 | 1.01K | 761.54 | - | - | - | - |
| Short-Term Debt | 2.16M | 81.51K | 679.89K | 669.64K | 719.23K | 609.82K | 1.6M | 255.03K | 416.55K | 155.19K | 6.58M | 1.05M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 13M | 24.51M | 1.4M | 1.09M | 8.9M | 127.01K | 464.17K | 285.06K | 269.39K | 1.86M | 2.04M | 1.2M | 214 |
| Current Ratio | 0.17x | 3.03x | 1.58x | 1.37x | 0.77x | 0.51x | 0.80x | 1.60x | 0.79x | 1.27x | 0.23x | 0.27x | 1.27x |
| Quick Ratio | 0.17x | 3.03x | 1.58x | 1.37x | 0.77x | 0.51x | 0.80x | 1.60x | 0.79x | 1.27x | 0.23x | 0.27x | 1.27x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 4.56M | 59.02K | 146.95K | 214.06K | 7.31M | 19.12K | 0 | 0 | 1.34M | 1.2M | 1.5M | 1.5M | 203 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 203 |
| Capital Lease Obligations | 0 | 59.02K | 146.95K | 214.06K | 311.14K | 19.12K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 4.56M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 7M | 0 | 0 | 0 | 1.34M | 1.2M | 1.5M | 1.5M | 0 |
| Total Liabilities | 19.72M | 27.61M | 3.28M | 2.7M | 19.61M | 15.56M | 4.29M | 3M | 3.82M | 3.54M | 10.32M | 3.93M | 939 |
| Total Debt | 2.16M | 140.53K | 826.84K | 883.71K | 1.03M | 628.95K | 1.6M | 255.03K | 416.55K | 155.19K | 6.58M | 1.05M | 203 |
| Net Debt | 1.26M | -22.94K | -2.88M | -479.2K | -7.22M | -5.43M | 1.43M | -859.31K | -156.93K | -1.62M | 6M | 957.45K | 155 |
| Debt / Equity | 0.07x | 0.00x | 0.23x | 0.32x | - | - | 0.35x | 0.06x | 0.15x | 0.05x | - | 0.40x | 3.72x |
| Debt / EBITDA | - | 4.22x | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | -0.69x | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -14.43x | - | -702.16x | -920.32x | -5209.31x | -4.59x | - | - | - | - | - | - | - |
| Total Equity | 30.07M | 57.8M | 3.6M | 2.74M | -7.82M | -2.64M | 4.62M | 4.47M | 2.73M | 3.21M | -3.63M | 2.64M | 55 |
| Equity Growth % | -47.98% | 1504.37% | 31.39% | 135.06% | -196.19% | -157.19% | 3.2% | 63.78% | -14.98% | 188.52% | -237.24% | 4844212.98% | - |
| Book Value per Share | 18.60 | 16.83 | 10.71 | 76.36 | -3680.43 | -3900.27 | 8647.46 | 12170.40 | 10794.20 | 20745.64 | -15596.06 | 11364.17 | 0.23 |
| Total Shareholders' Equity | 24.94M | 57.8M | 3.6M | 2.74M | -7.82M | -2.64M | 4.62M | 4.47M | 2.73M | 3.21M | -3.63M | 2.64M | 55 |
| Common Stock | 422 | 475 | 156 | 100 | 1.49K | 3.12K | 2.68K | 1.77K | 1.21K | 963 | 430 | 358 | 0 |
| Retained Earnings | -208.78M | -202.39M | -184.33M | -168.53M | -153.9M | -95.37M | -62.69M | -47.52M | -33.98M | -22.89M | -8.3M | -2.37M | -1.01K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | -1.22M | -1.11M | -1.27M | -1.15M | -955.72K | -1.46M | -1.35M | -749.45K | 1 |
| Minority Interest | 5.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent SEC filings, ENTO's balance sheet has weakened significantly, with cash reserves plummeting to $899,784 by 2025Q4, a stark decline from the $3.7 million held in 2023Q4, signaling an increasingly precarious trajectory for the company's ongoing clinical development and operational viability.
The consistent erosion of cash reserves relative to rising liabilities suggests that the company is struggling to maintain a stable financial foundation. This trend indicates that the business model is currently unsustainable without frequent and potentially dilutive capital infusions to support its clinical pipeline.
Based on the 2025Q4 financial statements, ENTO's current ratio has collapsed to 0.17, representing a severe liquidity crunch compared to the 5.49 ratio observed in 2024Q2, which highlights an urgent and immediate need for external funding to cover near-term operational obligations and clinical trial costs.
A current ratio well below 1.0 indicates that the company lacks sufficient liquid assets to meet its short-term liabilities. Investors should monitor this metric closely, as it suggests that the company may face significant difficulty in sustaining operations without immediate access to additional financing.
According to the 2025Q4 balance sheet, goodwill accounts for $24.1 million of the company's $48.6 million in total assets, a substantial increase from the $1.7 million reported in 2025Q2, which suggests that the asset base is heavily reliant on the valuation of acquired clinical programs.
The high concentration of goodwill relative to total assets implies that the company's book value is highly sensitive to the success of its latiglutenase program. Any clinical setbacks or regulatory delays could necessitate significant non-cash impairment charges, further eroding the company's already strained equity position.
As indicated in historical financial data, ENTO's retained earnings have reached a deficit of $208.8 million as of 2025Q4, reflecting years of persistent operational losses that have consistently depleted shareholder equity and necessitated repeated capital restructurings to maintain the company as a going concern.
The massive accumulated deficit underscores the high-risk nature of the company's clinical-stage business model. This persistent negative trend suggests that shareholders have borne the brunt of the company's inability to achieve commercial success, with equity value remaining highly vulnerable to further dilution.
Based on reported figures, the recent spike in goodwill to $24.1 million in 2025Q4 masks the underlying lack of tangible assets, as the company reports $0 in net property, plant, and equipment, leaving the balance sheet entirely dependent on the speculative value of intangible clinical assets.
This reliance on intangible assets makes the balance sheet highly susceptible to volatility, as there is no tangible collateral to support the company's valuation. Investors should be wary that the headline asset figure may not reflect the true realizable value of the company's intellectual property in a liquidation scenario.
Quick answers to the most common questions about buying ENTO stock.
As of 2025, Entero Therapeutics, Inc. (ENTO) had total assets of $48.6M including $2.6M in current assets.
Entero Therapeutics, Inc. (ENTO) carries total debt of $2.2M, offset by $0.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Entero Therapeutics, Inc. (ENTO) has total shareholders' equity (book value) of $24.9M ($18.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Entero Therapeutics, Inc. (ENTO) reported a current ratio of 0.17x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.