The balance sheet reflects a precarious financial structure, characterized by $18.1 million in total debt and a negative equity position of $36.5 million.
| Total Current Assets | 206K | 15.54M | 206K | 1.84M | 2.46M | 2.65M | 6.22M |
| Cash & Short-Term Investments | 98K | 1.18M | 98K | 177K | 812K | 2.38M | 4.22M |
| Cash Only | 98K | 1.18M | 98K | 177K | 718K | 551K | 3.56M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 94K | 1.83M | 664K |
| Accounts Receivable | 0 | 13.51M | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 108K | 854K | 108K | 1.66M | 1.65M | 263K | 1.6M |
| Total Non-Current Assets | 6.16M | 5.24M | 6.16M | 6.41M | 6.28M | 6.78M | 6.62M |
| Property, Plant & Equipment | 3.19M | 5.23M | 3.19M | 3.54M | 6M | 6.78M | 6.61M |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.97M | 6K | 2.97M | 2.87M | 283K | 8K | 10K |
| Total Assets | 6.37M | 20.78M | 6.37M | 8.25M | 8.74M | 9.43M | 12.84M |
| Asset Turnover | 0.00x | - | - | - | - | - | - |
| Asset Growth % | -22.82% | 226.39% | -22.82% | -5.68% | -7.28% | -26.56% | - |
| Total Current Liabilities | 12.13M | 34.81M | 12.13M | 14.26M | 12.91M | 6.29M | 5.78M |
| Accounts Payable | 3K | 2K | 3K | 2K | 4K | 46K | 25K |
| Days Payables Outstanding | 18.25 | 7.3 | 9.13 | 5.75 | 11.97 | 138.76 | - |
| Short-Term Debt | 7.28M | 8.36M | 7.28M | 7.97M | 7.65M | 4.93M | 4.83M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.33M | 26.31M | 3.33M | 4.99M | 4.22M | 23K | 151K |
| Current Ratio | 0.02x | 0.45x | 0.02x | 0.13x | 0.19x | 0.42x | 1.08x |
| Quick Ratio | 0.02x | 0.45x | 0.02x | 0.13x | 0.19x | 0.42x | 1.08x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 30.76M | 10.87M | 30.76M | 28.06M | 25.47M | 26.46M | 26.27M |
| Long-Term Debt | 10.68M | 10.16M | 10.68M | 8.52M | 6.32M | 6.26M | 8.29M |
| Capital Lease Obligations | 186K | 26K | 16K | 69K | 115K | 346K | 359K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 20.06M | 688K | 20.06M | 19.47M | 19.04M | 19.86M | 17.62M |
| Total Liabilities | 42.88M | 45.68M | 42.88M | 42.32M | 38.38M | 32.76M | 32.05M |
| Total Debt | 18.14M | 18.55M | 18.14M | 16.69M | 14.25M | 11.79M | 13.6M |
| Net Debt | 18.04M | 17.37M | 18.04M | 16.51M | 13.53M | 11.24M | 10.04M |
| Debt / Equity | -0.50x | - | - | - | - | - | - |
| Debt / EBITDA | -9367.25x | - | - | - | - | - | - |
| Net Debt / EBITDA | -9316.63x | - | - | - | - | - | - |
| Interest Coverage | -0.00x | -1.03x | -1.92x | -4.81x | -7.67x | -4.03x | -2.94x |
| Total Equity | -36.52M | -24.91M | -36.52M | -34.07M | -29.63M | -23.32M | -19.2M |
| Equity Growth % | -7.18% | 31.8% | -7.18% | -14.99% | -27.04% | -21.46% | - |
| Book Value per Share | -510.28 | -0.34 | -0.48 | -0.45 | -0.39 | -0.31 | -0.27 |
| Total Shareholders' Equity | -36.52M | -24.91M | -36.52M | -34.07M | -29.63M | -23.32M | -19.2M |
| Common Stock | 1K | 1K | 1K | 1K | 1K | 1K | 1K |
| Retained Earnings | -33.08M | -37.75M | -33.08M | -30.06M | -25.66M | -19.03M | -14.83M |
| Treasury Stock | -16.37M | -16.37M | -16.37M | -16.37M | -16.37M | -16.37M | -16.37M |
| Accumulated OCI | 1.12M | 682K | 1.12M | 548K | 590K | 266K | 189K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, Jyong Biotech's equity has deteriorated to a negative $36.5 million as of 2024Q4, reflecting a persistent trend of capital erosion that underscores the firm's precarious financial trajectory as it attempts to navigate the final stages of its clinical development pipeline.
The consistent decline in shareholders' equity suggests that the company is consuming its capital base to fund R&D without a corresponding increase in asset value. This trajectory indicates that the firm is increasingly reliant on external financing to maintain its existence, as internal value creation remains absent.
Based on the provided data, the company carries $18.1 million in total debt against a negative equity position, creating a leverage profile that is fundamentally unsustainable and suggests that the firm's debt obligations are driven by survival necessity rather than strategic capital deployment for growth.
The presence of significant debt on a balance sheet with negative equity and no revenue indicates a high risk of insolvency. Investors should monitor the maturity profile of these obligations, as the company lacks the operational cash flow to service this debt without further dilutive capital raises.
According to recent SEC filings, the company's current ratio has plummeted to a negligible 0.02, with cash reserves of only $98,000 as of 2024Q4, signaling an acute liquidity crisis that leaves virtually no buffer against unexpected clinical trial costs or regulatory delays in the near term.
A current ratio of 0.02 is indicative of a firm that is unable to meet its short-term obligations using current assets. This extreme lack of liquidity suggests that the company is likely operating on a day-to-day basis, making it highly susceptible to any disruption in its funding pipeline.
Based on the reported figures, the headline asset value of $6.4 million is potentially misleading, as it is heavily offset by $42.9 million in liabilities, suggesting that the company's true economic value is significantly lower than the gross asset figures might imply to an uncritical observer.
The discrepancy between total assets and total liabilities highlights a severe structural imbalance that is not fully captured by looking at assets alone. This suggests that the company's reliance on debt to fund R&D has created a precarious situation where the firm's survival is entirely contingent on securing new capital.
Quick answers to the most common questions about buying MENS stock.
As of 2025, Jyong Biotech Ltd. Ordinary Shares (MENS) had total assets of $20.8M including $15.5M in current assets.
Jyong Biotech Ltd. Ordinary Shares (MENS) carries total debt of $18.5M, offset by $1.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Jyong Biotech Ltd. Ordinary Shares (MENS) has total shareholders' equity (book value) of $-24.9M ($-0.34 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Jyong Biotech Ltd. Ordinary Shares (MENS) reported a current ratio of 0.45x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.