The firm's financial position appears increasingly vulnerable, with total assets declining from $45.2M in 2024Q2 to $19.0M by 2025Q4, alongside an accumulated deficit that has reached -$283.5M.
| Total Current Assets | 26.75M | 15.13M | 31.55M | 24.2M | 1.89M | 5.82M | 11.48M | 551K |
| Cash & Short-Term Investments | 26.21M | 14.6M | 30.89M | 23.19M | 397K | 4.5M | 11.35M | 425K |
| Cash Only | 9.27M | 5.33M | 8.56M | 9.42M | 397K | 4.5M | 11.35M | 425K |
| Short-Term Investments | 16.94M | 9.26M | 22.33M | 13.77M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 545K | 535K | 653K | 1.01M | 1.5M | 0 | 0 | 126K |
| Total Non-Current Assets | 5.62M | 3.9M | 3.17M | 3.69M | 3.64M | 2.3M | 2.53M | 2.73M |
| Property, Plant & Equipment | 5.47M | 3.75M | 3.08M | 3.6M | 1.98M | 2.21M | 2.45M | 2.65M |
| Fixed Asset Turnover | 0.00x | 0.00x | 0.00x | 0.05x | 5.59x | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 144K | 144K | 92K | 92K | 1.66M | 92K | 80K | 80K |
| Total Assets | 32.37M | 19.03M | 34.72M | 27.89M | 5.53M | 8.13M | 14.01M | 3.28M |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.01x | 2.00x | - | - | - |
| Asset Growth % | -128.73% | -45.19% | 24.46% | 404.3% | -31.93% | -41.99% | 326.94% | - |
| Total Current Liabilities | 7.27M | 6.22M | 6.9M | 6.55M | 31.63M | 22.48M | 14.49M | 14.73M |
| Accounts Payable | 0 | 0 | 5.57M | 3.78M | 6.78M | 4.46M | 927K | 0 |
| Days Payables Outstanding | 1.89K | - | 2.25K | 1.36K | 2.55K | 1.82K | 514.22 | - |
| Short-Term Debt | 316K | 427K | 329K | 0 | 16.4M | 6.16M | 3.6M | 4.61M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 170K | 4.5M | 0 | 0 |
| Other Current Liabilities | 6.96M | 5.8M | 0 | 0 | 5.16M | 4.11M | 6.84M | 10.12M |
| Current Ratio | 3.68x | 2.43x | 4.57x | 3.69x | 0.06x | 0.26x | 0.79x | 0.04x |
| Quick Ratio | 3.68x | 2.43x | 4.57x | 3.69x | 0.06x | 0.26x | 0.79x | 0.04x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 2.18M | 1.26M | 1.54M | 1.87M | 9.69M | 18.75M | 22.17M | 13.37M |
| Long-Term Debt | 2.18M | 1.26M | 0 | 0 | 8.52M | 18.02M | 21.69M | 13.04M |
| Capital Lease Obligations | 1.36M | 0 | 1.54M | 1.87M | 1.16M | 731K | 476K | 322K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 9.45M | 7.48M | 8.44M | 8.42M | 41.31M | 41.24M | 36.66M | 28.09M |
| Total Debt | 2.5M | 1.69M | 1.87M | 2.52M | 26.35M | 25.31M | 26.06M | 17.97M |
| Net Debt | -6.78M | -3.65M | -6.7M | -6.9M | 25.96M | 20.82M | 14.71M | 17.55M |
| Debt / Equity | 0.11x | 0.15x | 0.07x | 0.13x | - | - | - | - |
| Debt / EBITDA | -0.07x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.20x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -6.91x | -1.92x | -8.02x | -10.17x | -14.28x |
| Total Equity | 22.92M | 11.54M | 26.27M | 19.47M | -35.78M | -33.11M | -22.66M | -24.81M |
| Equity Growth % | -159.64% | -56.06% | 34.93% | 154.42% | -8.07% | -46.15% | 8.69% | - |
| Book Value per Share | 0.71 | 0.31 | 0.84 | 0.80 | -1.46 | -1.40 | -0.96 | -1.05 |
| Total Shareholders' Equity | 22.92M | 11.54M | 26.27M | 19.47M | -35.78M | -33.11M | -22.66M | -24.81M |
| Common Stock | 45K | 38K | 35K | 27K | 9K | 9K | 27K | 24K |
| Retained Earnings | -292.47M | -283.54M | -251.39M | -221.52M | -189.78M | -184.58M | -168.23M | -154.59M |
| Treasury Stock | 0 | 0 | -433K | -433K | -433K | -433K | -1.3M | -1.3M |
| Accumulated OCI | -5K | 9K | 64K | 14K | 2K | 2K | 2K | 2K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical Liquidity Shortfall
As reported in recent financial statements, GNLX's total assets have declined from $45.2M in 2024Q2 to $19.0M by 2025Q4, reflecting a rapid depletion of resources that underscores the company's precarious position as it attempts to fund late-stage clinical development without a commercial revenue stream.
The consistent contraction in total assets suggests that the company is consuming its capital base at a rate that outpaces its ability to replenish it through financing. This trajectory warrants close monitoring, as the shrinking asset base limits the company's operational flexibility and increases the urgency for a capital infusion.
Based on the 2025Q4 balance sheet, GNLX holds only $5.3M in cash, a significant reduction from the $16.2M reported in 2025Q1, which indicates an extremely narrow liquidity buffer that may be insufficient to sustain the ongoing OnPrime Phase 3 trial through its expected completion.
The current ratio of 2.43, while appearing superficially adequate, masks the reality that the company's cash burn is high relative to its remaining liquid assets. Investors should interpret this liquidity profile as a signal that the company is approaching a critical financing juncture where the terms of capital access may become increasingly dilutive.
According to historical balance sheet data, the company's accumulated deficit has deepened to -$283.5M as of 2025Q4, a trend that highlights the substantial capital destruction inherent in the firm's current clinical-stage business model and the reliance on equity issuance to maintain operations.
The persistent growth of the accumulated deficit reflects the high cost of R&D and clinical trial execution that has yet to be offset by any commercial success. This trend suggests that shareholders face ongoing dilution risk as the company continues to trade equity for the capital required to keep its pipeline viable.
As indicated by the 2025Q4 balance sheet, the company's asset base is heavily concentrated in cash and minimal PPE, with no goodwill or intangible assets, which suggests that the firm's value is entirely tied to the binary outcome of its clinical trials rather than tangible infrastructure.
The absence of significant intangible assets on the balance sheet implies that the company has not yet capitalized its intellectual property, which may be a conservative accounting choice but also means the balance sheet provides little protection in a downside scenario. This lack of tangible backing reinforces the view that the company's valuation is essentially a high-risk call option on its lead candidate.
Quick answers to the most common questions about buying GNLX stock.
As of 2025, Genelux Corporation (GNLX) had total assets of $19.0M including $15.1M in current assets.
Genelux Corporation (GNLX) carries total debt of $1.7M, offset by $14.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Genelux Corporation (GNLX) has total shareholders' equity (book value) of $11.5M ($0.31 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Genelux Corporation (GNLX) reported a current ratio of 2.43x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.