LBRX maintains a robust liquidity position with $320.7 million in cash and a negligible debt-to-equity ratio of 0.01, providing significant financial flexibility.
| Total Current Assets | 389.07M | 308.43M | 28.88M | 45.63M | 21.49M |
| Cash & Short-Term Investments | 365.64M | 295.21M | 28M | 43.29M | 21.4M |
| Cash Only | 320.68M | 250.17M | 22.98M | 14.98M | 21.4M |
| Short-Term Investments | 44.96M | 45.04M | 5.02M | 28.31M | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 20.8M | 11.23M | 132K | 26K | 9K |
| Total Non-Current Assets | 4.41M | 4.5M | 4.66M | 23K | 3K |
| Property, Plant & Equipment | 3.63M | 3.73M | 4.16M | 23K | 3K |
| Fixed Asset Turnover | 0.00x | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 2.06M | 770K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 498K | 0 | 0 |
| Total Assets | 393.48M | 312.93M | 33.53M | 45.66M | 21.49M |
| Asset Turnover | 0.00x | - | - | - | - |
| Asset Growth % | 1944.27% | 833.18% | -26.55% | 112.44% | - |
| Total Current Liabilities | 10.91M | 7.44M | 8.11M | 2.61M | 469K |
| Accounts Payable | 7.12M | 2.13M | 2.32M | 1.39M | 156K |
| Days Payables Outstanding | 13.88K | - | - | - | - |
| Short-Term Debt | 730K | 730K | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.97M | 2.9M | 2.24M | 798K | 221K |
| Current Ratio | 35.68x | 41.44x | 3.56x | 17.51x | 45.82x |
| Quick Ratio | 35.68x | 41.44x | 3.56x | 17.51x | 45.82x |
| Cash Conversion Cycle | - | - | - | - | - |
| Total Non-Current Liabilities | 3.88M | 4.18M | 119.98M | 77.52M | 49.84M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 24.15M |
| Capital Lease Obligations | 11.55M | 2.84M | 3.22M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.14M | 1.34M | 116.76M | 77.52M | 25.69M |
| Total Liabilities | 14.79M | 11.62M | 128.09M | 80.13M | 50.3M |
| Total Debt | 3.47M | 3.57M | 3.7M | 0 | 24.15M |
| Net Debt | -317.21M | -246.6M | -19.27M | -14.98M | 2.74M |
| Debt / Equity | 0.01x | 0.01x | - | - | - |
| Debt / EBITDA | -0.07x | - | - | - | - |
| Net Debt / EBITDA | 6.82x | - | - | - | - |
| Interest Coverage | 225.25x | - | - | -0.30x | -5.67x |
| Total Equity | 378.69M | 301.31M | -94.55M | -34.47M | -28.81M |
| Equity Growth % | 3546.19% | 418.66% | -174.28% | -19.65% | - |
| Book Value per Share | 13.41 | 11.91 | -26.71 | -9.74 | -8.14 |
| Total Shareholders' Equity | 378.69M | 301.31M | -94.55M | -34.47M | -28.81M |
| Common Stock | 3K | 3K | 1K | 1K | 1K |
| Retained Earnings | -148.58M | -129.53M | -104.32M | -41.22M | -34.95M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 208K | 168K | 111K | 274K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Clinical trial execution burn
As reported in recent financial statements, LBRX has successfully transitioned from a precarious negative equity position in 2025Q2 to a robust $378.7 million equity base by 2026Q1, signaling a strategic strengthening of the balance sheet to support ongoing clinical development and long-term operational requirements.
The dramatic improvement in equity reflects successful capital raising efforts that have effectively insulated the company from immediate insolvency risks. This shift suggests management is prioritizing a multi-year cash runway to navigate the high-cost Phase 3 clinical trial environment without the immediate threat of dilutive financing.
Based on the company's 2026Q1 filings, the cash position of $320.7 million provides a significant liquidity buffer, with a current ratio of 35.68 that underscores the firm's ability to meet short-term obligations while aggressively funding its neuropsychiatric research pipeline through the next several quarters.
The exceptionally high current ratio is characteristic of a pre-revenue biotech firm holding large cash reserves relative to its current liabilities. Investors should monitor whether this liquidity remains sufficient as clinical trial site activation and patient enrollment costs scale in line with the company's development milestones.
According to the provided balance sheet data, LBRX maintains a negligible debt-to-equity ratio of 0.01, indicating that the company is currently funded almost entirely through equity capital rather than debt, which minimizes interest expense and avoids the restrictive covenants often associated with traditional credit facilities.
The absence of meaningful debt suggests that the company is not reliant on external credit markets to sustain its operations, which is a prudent strategy for a clinical-stage entity. This lack of leverage provides management with maximum flexibility to pursue strategic alternatives without the burden of mandatory debt service.
While the $393.5 million in total assets appears strong, the fact that nearly 82% of this value is held in cash suggests that the company possesses minimal tangible infrastructure, as evidenced by the negligible $3.6 million in net property, plant, and equipment reported in 2026Q1.
The reliance on cash as the primary asset highlights the company's vulnerability to inflationary pressures on clinical research costs and potential mismanagement of capital allocation. Investors should be aware that the balance sheet lacks significant physical collateral, meaning the firm's value is entirely tied to the intangible success of its lead candidate.
Quick answers to the most common questions about buying LBRX stock.
As of 2025, LB Pharmaceuticals Inc Common Stock (LBRX) had total assets of $312.9M including $308.4M in current assets.
LB Pharmaceuticals Inc Common Stock (LBRX) carries total debt of $3.6M, offset by $295.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
LB Pharmaceuticals Inc Common Stock (LBRX) has total shareholders' equity (book value) of $301.3M ($11.91 book value per share). Book value represents the net worth of the company belonging to common stock holders.
LB Pharmaceuticals Inc Common Stock (LBRX) reported a current ratio of 41.44x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.