The firm's financial position is critically vulnerable, characterized by a negative equity balance of $13.2 million and a dangerously low current ratio of 0.08 as of 2026Q1.
| Total Current Assets | 1.37M | 1.39M | 2.2M | 1.27M | 728.68K | 32.49K |
| Cash & Short-Term Investments | 138.6K | 58.73K | 64.89K | 31.86K | 633.3K | 25.03K |
| Cash Only | 138.6K | 58.73K | 64.89K | 31.86K | 633.3K | 25.03K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 138.25K | 0 | 148.71K | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | 653.94 | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 1.04M | 746.89K | 1.6M | 970.58K | 0 | 0 |
| Total Non-Current Assets | 1.96M | 1.43M | 1.22M | 0 | 0 | 0 |
| Property, Plant & Equipment | 340.64K | 361.05K | 23.53K | 0 | 0 | 0 |
| Fixed Asset Turnover | 0.00x | 0.11x | 3.53x | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 488.43K | 500K | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.13M | 573.88K | 1.2M | 0 | 0 | 0 |
| Total Assets | 3.33M | 2.82M | 3.42M | 1.27M | 728.68K | 32.49K |
| Asset Turnover | 0.00x | 0.01x | 0.02x | 0.06x | 0.03x | - |
| Asset Growth % | -60.55% | - | 170.06% | 73.65% | 2142.72% | - |
| Total Current Liabilities | 16.29M | 20.04M | 8.92M | 15.25M | 2.3M | 2.65M |
| Accounts Payable | 2.63M | 7.11M | 3.52M | 2.96M | 1.34M | 537.45K |
| Days Payables Outstanding | 39.43K | - | - | - | - | - |
| Short-Term Debt | 72.35K | 5.95M | 24.72K | 6.61M | 50K | 1.15M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 500K | 500K |
| Other Current Liabilities | 13.58M | 255.1K | 710.15K | 1.09M | 0 | 462.5K |
| Current Ratio | 0.08x | 0.07x | 0.25x | 0.08x | 0.32x | 0.01x |
| Quick Ratio | 0.08x | 0.07x | 0.25x | 0.08x | 0.32x | 0.01x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 273.7K | 290.68K | -5K | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 891.27K | 290.68K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | -5K | 0 | 0 | 0 |
| Total Liabilities | 16.56M | 20.33M | 8.92M | 15.25M | 2.3M | 2.65M |
| Total Debt | 346.05K | 6.31M | 24.72K | 6.61M | 50K | 1.15M |
| Net Debt | 207.45K | 6.26M | -40.17K | 6.57M | -583.3K | 1.12M |
| Debt / Equity | -0.03x | - | - | - | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - |
| Net Debt / EBITDA | -0.01x | - | - | - | - | - |
| Interest Coverage | -10.83x | -23.81x | -2.64x | -4.48x | -14.18x | -28.97x |
| Total Equity | -13.23M | -17.51M | -5.5M | -13.99M | -1.58M | -2.62M |
| Equity Growth % | -37.49% | - | 60.65% | -787.91% | 39.79% | - |
| Book Value per Share | -0.57 | -0.91 | -0.29 | -0.75 | -0.08 | -0.14 |
| Total Shareholders' Equity | -13.23M | -17.51M | -5.5M | -13.99M | -1.58M | -2.62M |
| Common Stock | 2.48K | 2.2K | 1.81K | 1.66K | 1.05K | 56.67K |
| Retained Earnings | -121.57M | -112.75M | -50.61M | -38.71M | -23.79M | -20.74M |
| Treasury Stock | -6.08M | -2.71M | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion risk
As reported in financial statements, NTHI's equity position has deteriorated to a negative $13.2 million as of 2026Q1, reflecting a consistent pattern of capital depletion that underscores the company's precarious financial trajectory as it attempts to fund its clinical development pipeline without a sustainable revenue base.
The persistent decline in shareholder equity, driven by accumulated deficits exceeding $121 million, suggests that the company is effectively operating on borrowed time and external capital. Investors should monitor the widening gap between liabilities and assets, which indicates that the business model is currently incapable of generating the internal capital necessary to support its R&D ambitions.
Based on NTHI's reported figures, the current ratio has plummeted to a dangerously low 0.08 as of 2026Q1, signaling that the company lacks the liquid assets required to cover its immediate short-term obligations, thereby placing the firm at extreme risk of insolvency without an immediate capital injection.
The cash balance of $138,600 against significant liabilities highlights a severe liquidity crunch that leaves virtually no margin for operational error. This state of affairs suggests that the company is likely reliant on continuous, dilutive financing rounds to maintain even basic administrative and regulatory functions.
According to recent SEC filings, NTHI's equity has remained deeply negative throughout the observed period, reaching a low of negative $17.5 million in 2025Q4, which serves as a stark indicator of the substantial capital destruction inherent in the company's current pre-commercial, high-burn R&D operating model.
The negative equity position implies that the company's liabilities significantly outweigh its assets, a common but extreme characteristic of early-stage biotech firms. This structure suggests that any future value for shareholders is entirely contingent upon successful clinical outcomes and the ability to secure further funding, which will likely result in significant dilution.
As evidenced by the provided balance sheet data, the inclusion of $488,400 in goodwill as of 2026Q1 warrants further investigation, as it represents a non-tangible asset that may be subject to impairment if the company's clinical trials fail to meet their primary endpoints or regulatory milestones.
The presence of goodwill on a balance sheet characterized by negative equity and minimal cash is unusual and potentially misleading regarding the firm's true net asset value. Analysts should consider that this intangible asset may provide no actual recovery value in a liquidation scenario, further exacerbating the risk profile for potential investors.
Quick answers to the most common questions about buying NTHI stock.
As of 2025, Neonc Technologies Holdings, Inc. (NTHI) had total assets of $2.8M including $1.4M in current assets.
Neonc Technologies Holdings, Inc. (NTHI) carries total debt of $6.3M, offset by $0.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Neonc Technologies Holdings, Inc. (NTHI) has total shareholders' equity (book value) of $-17.5M ($-0.91 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Neonc Technologies Holdings, Inc. (NTHI) reported a current ratio of 0.07x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.