The balance sheet shows extreme volatility with retained earnings deteriorating to -$175.5 million as of 2026Q1, underscoring the cumulative impact of sustained development-stage losses.
| Total Current Assets | 18.8M | 8.36M | 2.08M | 7.53M | 21.47M | 39.14M | 30.72M | 2.98M | 8.85M | 193.57K | 1.64M | 250.05K |
| Cash & Short-Term Investments | 18.05M | 7.83M | 1.6M | 6.74M | 20.95M | 38.63M | 27.32M | 2M | 8.6M | 161.25K | 1.6M | 234.22K |
| Cash Only | 18.05M | 7.83M | 1.6M | 6.74M | 20.95M | 38.63M | 27.32M | 2M | 8.6M | 161.25K | 1.6M | 234.22K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 127 | 655 | 9.3K | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 3.01M | 801.78K | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | 48.25K | 22.39K | - | - | - | - |
| Other Current Assets | 753.8K | 525.93K | 475.81K | 794.14K | 34.85K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 1.5M | 1.8M | 2.05M | 3.14M | 3.61M | 3.72M | 651.81K | 557.59K | 421.89K | 1.07M | 271.7K | 160.04K |
| Property, Plant & Equipment | 0 | 0 | 0 | 7.86K | 23.03K | 48.61K | 39.44K | 44.65K | 24.35K | 7.8K | 5.16K | 1.04K |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 773.48K | 702.1K | 642.36K | 601.63K | 491.2K | 379.45K | 298.57K | 241.04K | 156.48K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.5M | 1.8M | 2.05M | 2.36M | 2.89M | 3.03M | 10.74K | 21.73K | 18.09K | 759.59K | 25.51K | 2.52K |
| Total Assets | 20.31M | 10.16M | 4.12M | 10.67M | 25.09M | 42.86M | 31.37M | 3.53M | 9.27M | 1.26M | 1.91M | 410.09K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | - | - | - |
| Asset Growth % | 333.34% | 146.32% | -61.35% | -57.46% | -41.48% | 36.65% | 787.53% | -61.87% | 635.9% | -34.07% | 365.88% | - |
| Total Current Liabilities | 3.35M | 2.17M | 2.5M | 3.25M | 2.81M | 1.59M | 450.72K | 510.68K | 387.82K | 830.96K | 285.66K | 16.35K |
| Accounts Payable | 1.66M | 743.07K | 1.07M | 1.4M | 442.93K | 973.2K | 192.97K | 436.26K | 295.07K | 629.07K | 109.66K | 16.35K |
| Days Payables Outstanding | - | - | 58.59K | 34K | 6.32K | 15.76K | 3.09K | 12.18K | 18.3K | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.7M | 1.43M | 1.43M | 1.86M | 2.37M | 612.1K | 257.76K | 74.43K | 92.75K | 201.89K | 36K | 0 |
| Current Ratio | 5.61x | 3.84x | 0.83x | 2.31x | 7.64x | 24.69x | 68.15x | 5.83x | 22.81x | 0.23x | 5.74x | 15.29x |
| Quick Ratio | 5.61x | 3.84x | 0.83x | 2.31x | 7.64x | 24.69x | 61.47x | 4.26x | 22.81x | 0.23x | 5.74x | 15.29x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 22.5K | 22.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 22.5K | 22.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.38M | 2.2M | 2.5M | 3.25M | 2.81M | 1.59M | 450.72K | 510.68K | 387.82K | 830.96K | 285.66K | 16.35K |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 92.75K | 201.89K | 0 | 0 |
| Net Debt | -18.05M | -7.83M | -1.6M | -6.74M | -20.95M | -38.63M | -27.32M | -2M | -8.51M | 40.64K | -1.6M | -234.22K |
| Debt / Equity | 0.00x | - | - | - | - | - | - | - | 0.01x | 0.47x | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.13x | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -35.18x | -20.93x | - | - | - | - | - | - | -324.74x | -1752.56x | - | - |
| Total Equity | 16.93M | 7.96M | 1.62M | 7.42M | 22.27M | 41.28M | 30.92M | 3.02M | 8.88M | 428.57K | 1.62M | 393.74K |
| Equity Growth % | 607.27% | 391.43% | -78.15% | -66.7% | -46.04% | 33.51% | 922.52% | -65.96% | 1972.25% | -73.62% | 312.68% | - |
| Book Value per Share | 2.44 | 8.54 | 20.22 | 271.12 | 929.00 | 1752.81 | 1740.70 | 377.28 | 1289.74 | 74.53 | 299.96 | 422.01 |
| Total Shareholders' Equity | 16.93M | 7.96M | 1.62M | 7.42M | 22.27M | 41.28M | 30.92M | 3.02M | 8.88M | 428.57K | 1.62M | 393.74K |
| Common Stock | 9.04K | 3.29K | 10.86K | 1.49K | 1.2K | 47.87K | 43.12K | 19.26K | 15.24K | 11.72K | 328 | 308 |
| Retained Earnings | -175.49M | -171.03M | -154.8M | -133.69M | -102.83M | -79.09M | -58.42M | -40.48M | -29.82M | -17.45M | -14.14M | -10.01M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and dilution risk
As reported in recent financial filings, Genprex's balance sheet trajectory remains highly erratic, with total assets fluctuating between $3.6 million and $20.3 million over the last ten quarters, primarily driven by the timing of equity-based capital raises rather than organic growth or operational asset accumulation.
The significant swings in asset levels suggest a business model that is entirely dependent on periodic external financing to sustain its clinical pipeline. This pattern indicates that the company's financial health is not tied to operational progress but rather to its ability to access capital markets, which warrants caution regarding long-term stability.
Based on the company's reported figures, the current ratio has experienced extreme volatility, dropping as low as 0.67 in 2025Q3 before recovering to 5.61 in 2026Q1, highlighting a persistent vulnerability to liquidity shocks as cash reserves are rapidly depleted by ongoing clinical trial expenditures.
The wide variance in the current ratio suggests that the company frequently operates near a liquidity cliff, necessitating frequent and potentially dilutive capital raises. Investors should monitor the cash burn rate closely, as the current $7.8 million in cash reserves may provide only a limited buffer against unforeseen clinical trial delays.
According to historical balance sheet data, retained earnings have deteriorated significantly to -$175.5 million as of 2026Q1, reflecting the cumulative impact of sustained operating losses inherent in the company's pre-revenue clinical development stage and the lack of any self-sustaining commercial operations.
The consistent decline in equity quality underscores the high cost of advancing the REQORSA pipeline. The reliance on equity financing to offset these losses suggests that existing shareholders face a high probability of continued dilution as the company seeks to fund its research objectives.
As indicated by the balance sheet, the absence of meaningful PPE or intangible assets, with values effectively at zero in recent periods, suggests that the company's value is entirely speculative and tied to the success of its clinical trials rather than tangible infrastructure or established intellectual property.
The lack of tangible assets implies that there is little to no recovery value for investors should the clinical trials fail to meet primary endpoints. This asset-light structure, while typical for early-stage biotech, places the entire burden of valuation on the success of the non-viral delivery platform.
Quick answers to the most common questions about buying GNPX stock.
As of 2025, Genprex, Inc. (GNPX) had total assets of $10.2M including $8.4M in current assets.
Genprex, Inc. (GNPX) carries total debt of $0.0M, offset by $7.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Genprex, Inc. (GNPX) has total shareholders' equity (book value) of $8.0M ($8.54 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Genprex, Inc. (GNPX) reported a current ratio of 3.84x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.