The company maintains a debt-free capital structure with a 0.00 D/E ratio, yet total assets have eroded to $272.5 million as of 2026Q1 due to persistent, loss-driven capital consumption.
| Total Current Assets | 268.37M | 292.35M | 211.92M | 67.24M | 46.64M | 18.32M | 21.1M | 6K |
| Cash & Short-Term Investments | 258.38M | 292.35M | 209.03M | 65.79M | 44.44M | 18.31M | 19.82M | 6K |
| Cash Only | 24.77M | 25.18M | 20.16M | 35.14M | 44.44M | 18.31M | 19.82M | 6K |
| Short-Term Investments | 233.61M | 267.17M | 188.87M | 30.65M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 343K | 2.43M | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 12.05 | 46.45 | - | - | - | - | - | - |
| Inventory | 3.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 218.64 | - | - | - | - | - | - | - |
| Other Current Assets | 6.14M | -2.43M | 114K | 1.45M | 2.2M | 16K | 1.29M | 0 |
| Total Non-Current Assets | 4.17M | 13.53M | 3.39M | 3.13M | 310K | 12K | 1.46M | 0 |
| Property, Plant & Equipment | 1.72M | 0 | 1.99M | 372K | 279K | 10K | 1.46M | 0 |
| Fixed Asset Turnover | 14.11x | - | - | - | 53.76x | - | - | - |
| 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 | 2.45M | 13.53M | 1.4M | 2.76M | 31K | 2K | 0 | 0 |
| Total Assets | 272.54M | 305.88M | 215.3M | 70.38M | 46.95M | 18.34M | 22.56M | 6K |
| Asset Turnover | 0.08x | 0.06x | - | - | 0.32x | - | - | - |
| Asset Growth % | 78.8% | 42.07% | 205.93% | 49.89% | 156.07% | -18.74% | 375966.67% | - |
| Total Current Liabilities | 25.81M | 21.19M | 10.41M | 18.51M | 9.5M | 1.25M | 32.05M | 2.22M |
| Accounts Payable | 10.93M | 4.17M | 4.26M | 5.71M | 4.75M | 460K | 630K | 0 |
| Days Payables Outstanding | 1.1K | 2.16K | 26.79K | - | - | 228.75 | 1.9K | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.21M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 14.88M | 17.02M | 0 | 0 | 0 | 0 | 30.95M | 19K |
| Current Ratio | 10.40x | 13.80x | 20.36x | 3.63x | 4.91x | 14.62x | 0.66x | 0.00x |
| Quick Ratio | 10.26x | 13.80x | 20.36x | 3.63x | 4.91x | 14.62x | 0.66x | 0.00x |
| Cash Conversion Cycle | -864.36 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 237K | 350K | 814K | 144.57M | 61.62M | 31.3M | 316K | 0 |
| Long-Term Debt | 237K | 350K | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 569K | 0 | 814K | 192K | 147K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 144.38M | 61.47M | 31.3M | 316K | 0 |
| Total Liabilities | 26.04M | 21.54M | 11.22M | 163.09M | 71.12M | 32.55M | 32.36M | 2.22M |
| Total Debt | 237K | 350K | 1.38M | 329K | 250K | 0 | 0 | 2.21M |
| Net Debt | -24.54M | -24.83M | -18.78M | -34.81M | -44.19M | -18.31M | -19.82M | 2.2M |
| Debt / Equity | 0.00x | 0.00x | 0.01x | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | 15.43x |
| Net Debt / EBITDA | 0.21x | - | - | - | - | - | - | 15.39x |
| Interest Coverage | - | - | - | - | - | - | -1708.33x | -0.36x |
| Total Equity | 246.49M | 284.34M | 204.08M | -92.71M | -24.17M | -14.21M | -9.8M | -2.22M |
| Equity Growth % | 64.75% | 39.32% | 320.13% | -283.6% | -70.04% | -45.04% | -341.84% | - |
| Book Value per Share | 7.86 | 9.87 | 9.59 | -11.38 | -3.08 | -1.72 | -1.18 | -0.27 |
| Total Shareholders' Equity | 246.49M | 284.34M | 204.08M | -92.71M | -24.17M | -14.21M | -9.8M | -2.22M |
| Common Stock | 1K | 1K | 1K | 10K | 10K | 1K | 0 | 0 |
| Retained Earnings | -268.63M | -227.14M | -145.01M | -95.25M | -25.28M | -14.47M | -70.59M | -2.22M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -450K | 242K | 196K | 6K | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Binary Clinical Regulatory Outcome
As reported in recent financial statements, LENZ has seen its total assets decline from $305.9 million in 2025Q4 to $272.5 million in 2026Q1, reflecting a consistent trend of capital consumption as the firm funds its late-stage clinical pipeline without a sustainable, recurring revenue stream to offset costs.
The downward trajectory in total assets suggests that the company is rapidly depleting its capital base to sustain high-intensity R&D and pre-commercial activities. Investors should monitor whether this rate of asset depletion necessitates further dilutive financing before the company can achieve a self-sustaining commercial profile.
Based on the provided quarterly data, the company's cash position has remained relatively stagnant near $24.8 million as of 2026Q1, which appears insufficient given the high quarterly operating burn rates observed in recent periods and the substantial capital requirements for upcoming commercialization efforts and regulatory milestones.
While the current ratio of 10.40 suggests a strong short-term liquidity position on paper, this metric is heavily skewed by the lack of significant current liabilities rather than an abundance of cash. The company's reliance on external capital to maintain its runway remains a critical vulnerability that warrants close scrutiny.
According to the balance sheet, accumulated deficits have ballooned to $268.6 million as of 2026Q1, indicating that the company's equity base is being systematically eroded by persistent operating losses and the ongoing costs associated with its clinical-stage development strategy and organizational overhead.
The negative trend in retained earnings highlights the significant economic cost of the company's current business model. Shareholders should be aware that the equity structure is currently supported by capital raises rather than organic value creation, which may lead to further dilution if the clinical pipeline fails to deliver.
As indicated by the provided financial data, the company's asset base is almost entirely composed of cash and liquid equivalents, with negligible property, plant, and equipment, suggesting that the firm lacks tangible collateral and is entirely dependent on the intangible value of its clinical-stage pharmaceutical intellectual property.
The absence of significant tangible assets implies that the company's valuation is highly sensitive to binary clinical outcomes rather than underlying operational infrastructure. This lack of physical asset backing increases the risk profile for investors, as there is little recovery value should the lead candidates fail to secure regulatory approval.
Quick answers to the most common questions about buying LENZ stock.
As of 2025, LENZ Therapeutics, Inc. (LENZ) had total assets of $305.9M including $292.3M in current assets.
LENZ Therapeutics, Inc. (LENZ) carries total debt of $0.3M, offset by $292.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
LENZ Therapeutics, Inc. (LENZ) has total shareholders' equity (book value) of $284.3M ($9.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
LENZ Therapeutics, Inc. (LENZ) reported a current ratio of 13.80x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.