The firm's capital structure has eroded significantly, resulting in a negative equity position of $519,000 and a current ratio of 0.71 as of 2025Q2, signaling severe liquidity constraints.
| Total Current Assets | 1.56M | 778K | 4.4M | 2.92M | 7.38M | 11.41M | 729K | 913K |
| Cash & Short-Term Investments | 666K | 166K | 3.38M | 2.64M | 7.09M | 11.06M | 699K | 895K |
| Cash Only | 666K | 166K | 3.38M | 2.64M | 3.54M | 11.06M | 699K | 895K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 3.55M | 0 | 0 | 0 |
| Accounts Receivable | 847K | 33K | 164K | 166K | 131K | 178K | 30K | 18K |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | -178K | -67 | -18 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 43K | 47K | 35K | 40K | 36K | 217K | 67 | 18 |
| Total Non-Current Assets | 128K | 250K | 173K | 269K | 329K | 19K | 50K | 42K |
| Property, Plant & Equipment | 105K | 228K | 150K | 247K | 306K | 19K | 13K | 7K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 23K | 0 | 0 | 0 | 0 | 0 | 37K | 35K |
| Other Non-Current Assets | 23K | 22K | 23K | 22K | 23K | 0 | 0 | 0 |
| Total Assets | 1.68M | 1.03M | 4.58M | 3.19M | 7.71M | 11.43M | 779K | 955K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - |
| Asset Growth % | -30.16% | -77.53% | 43.64% | -58.69% | -32.55% | 1367.39% | -18.43% | - |
| Total Current Liabilities | 2.2M | 2.52M | 1.99M | 3.46M | 1.73M | 597K | 120K | 37K |
| Accounts Payable | 1.09M | 799K | 1.16M | 1.46M | 498K | 39K | 55K | 23K |
| Days Payables Outstanding | - | - | - | - | 2.04K | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 370K | 443K | 29K | 5K |
| Current Ratio | 0.71x | 0.31x | 2.21x | 0.84x | 4.28x | 19.12x | 6.08x | 24.68x |
| Quick Ratio | 0.71x | 0.31x | 2.21x | 0.84x | 4.28x | 19.41x | 6.08x | 24.68x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 72K | 0 | 1.49M | 365K | 1.83M | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 19K | 72K | 0 | 73K | 147K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 1.41M | 218K | 1.83M | 0 | 0 |
| Total Liabilities | 2.2M | 2.59M | 1.99M | 4.94M | 2.09M | 2.42M | 120K | 37K |
| Total Debt | 0 | 170K | 73K | 142K | 211K | 1.83M | 0 | 0 |
| Net Debt | -666K | 4K | -3.31M | -2.5M | -3.33M | -9.23M | -699K | -895K |
| Debt / Equity | -0.00x | - | 0.03x | - | 0.04x | 0.20x | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.08x | - | - | - | - | - | - | - |
| Interest Coverage | -97.39x | - | -31.83x | -17.56x | -821.20x | -2.50x | - | -244.40x |
| Total Equity | -519K | -1.56M | 2.58M | -1.76M | 5.62M | 9.01M | 659K | 918K |
| Equity Growth % | -928.81% | -160.39% | 246.84% | -131.3% | -37.61% | 1266.62% | -28.21% | - |
| Book Value per Share | -0.02 | -0.06 | 0.14 | -0.13 | 0.49 | 0.83 | 0.12 | 0.17 |
| Total Shareholders' Equity | -519K | -1.56M | 2.58M | -1.76M | 5.62M | 9.01M | 659K | 918K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 1K |
| Retained Earnings | -41.37M | -47.78M | -36.66M | -26.12M | -20.79M | -8.45M | -4.41M | -1.58M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent financial statements, the company's equity position has deteriorated into a deficit of $519,000 by 2025Q2, reflecting a consistent trend of capital depletion that suggests the current business model is unsustainable without immediate and substantial external funding to support ongoing clinical development.
The persistent decline in equity over the last ten quarters indicates that the company is consuming its capital base to fund R&D without achieving a value-inflection point. This trajectory suggests that the firm is increasingly reliant on dilutive financing, which may continue to pressure shareholder value as the cash runway remains critically thin.
Based on the latest quarterly filings, the company's cash reserves have dwindled to approximately $666,000, a figure that appears insufficient to sustain operations given the high burn rate, indicating a severe liquidity constraint that warrants immediate investigation into the firm's ability to continue as a going concern.
The current ratio of 0.71 highlights a significant mismatch between short-term obligations and available liquid assets. This liquidity profile suggests that the company may face extreme difficulty in meeting its near-term clinical trial commitments without securing additional capital, which could lead to further operational delays or restructuring.
According to historical balance sheet data, the company has transitioned from a positive equity position of $2.9 million in 2023Q1 to a deficit of $519,000 by 2025Q2, a shift that underscores the impact of accumulated losses on the firm's capital structure and long-term financial stability.
The persistent negative retained earnings, which reached $41.4 million by 2025Q2, demonstrate that the company's R&D-heavy strategy has yet to yield commercial results. This erosion of equity suggests that the firm is effectively operating on borrowed time, with the capital structure becoming increasingly fragile as losses continue to mount.
As indicated by the provided financial data, the company's reliance on external funding is masked by the absence of significant long-term debt, yet the underlying equity deficit suggests that the firm's true financial risk is significantly higher than the headline debt-to-equity ratios might otherwise imply to investors.
While the lack of formal debt might appear positive, the negative equity position indicates that the company is essentially insolvent on a book-value basis. Investors should monitor the potential for future royalty obligations from government grants, which may act as a form of shadow debt that could further complicate the firm's future financial flexibility.
Quick answers to the most common questions about buying NRSN stock.
As of 2025, NeuroSense Therapeutics Ltd. (NRSN) had total assets of $1.0M including $0.8M in current assets.
NeuroSense Therapeutics Ltd. (NRSN) carries total debt of $0.2M, offset by $0.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
NeuroSense Therapeutics Ltd. (NRSN) has total shareholders' equity (book value) of $-1.6M ($-0.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
NeuroSense Therapeutics Ltd. (NRSN) reported a current ratio of 0.31x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.