The firm maintains a debt-free capital structure but faces significant equity pressure, with total assets contracting from $35.6 million in 2025Q3 to $25.4 million in 2026Q1.
| Total Current Assets | 25.4M | 31.71M | 18.61M | 19.18M | 20.41M | 5.83M | 0 |
| Cash & Short-Term Investments | 25.13M | 31.63M | 18.53M | 19.13M | 19.99M | 5.74M | 0 |
| Cash Only | 25.13M | 31.63M | 18.53M | 19.13M | 19.99M | 5.74M | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 268K | 75K | 74K | 59K | 412K | 91K | 0 |
| Total Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 824K | 0 |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | - |
| 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 | 0 | 0 | 0 | 0 | 0 | 824K | 0 |
| Total Assets | 25.4M | 31.71M | 18.61M | 19.18M | 20.41M | 6.66M | 0 |
| Asset Turnover | 0.00x | - | - | - | - | - | - |
| Asset Growth % | 207.88% | 70.41% | -3.01% | -5.98% | 206.52% | - | - |
| Total Current Liabilities | 11.18M | 13.3M | 8.89M | 6.98M | 6.19M | 2.42M | 10K |
| Accounts Payable | 4.7M | 6.27M | 2.5M | 2.77M | 2.91M | 1.06M | 10K |
| Days Payables Outstanding | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 6.48M | 7.02M | 5.56M | 3.8M | 2.38M | 142K | 0 |
| Current Ratio | 2.27x | 2.38x | 2.09x | 2.75x | 3.30x | 2.41x | - |
| Quick Ratio | 2.27x | 2.38x | 2.09x | 2.75x | 3.30x | 2.41x | - |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 15.25M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 15.25M | 0 |
| Total Liabilities | 11.18M | 13.3M | 8.89M | 6.98M | 6.19M | 17.66M | 10K |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -25.13M | -31.63M | -18.53M | -19.13M | -19.99M | -5.74M | 0 |
| Debt / Equity | 0.00x | - | - | - | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.89x | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - |
| Total Equity | 14.22M | 18.41M | 9.71M | 12.2M | 14.22M | -11.01M | -10K |
| Equity Growth % | 210.56% | 89.57% | -20.39% | -14.19% | 229.17% | -109980% | - |
| Book Value per Share | 0.61 | 0.84 | 0.57 | 0.78 | 1.12 | -0.87 | -0.00 |
| Total Shareholders' Equity | 14.22M | 18.41M | 9.71M | 12.2M | 14.22M | -11.01M | -10K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -105.74M | -99.69M | -73.25M | -54.24M | -31.98M | -12.9M | -10K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical Trial Funding Dependency
According to recent quarterly filings, NVCT's total assets have contracted from $35.6 million in 2025Q3 to $25.4 million by 2026Q1, reflecting a consistent depletion of resources as the company funds its research-heavy oncology pipeline without any offsetting revenue streams to stabilize its financial position.
The downward trajectory in total assets suggests that the company is consuming its capital base at a rate that outpaces its ability to replenish it through non-dilutive means. Investors should monitor this trend closely, as the persistent decline in asset value indicates a narrowing window for clinical success before additional financing becomes a structural necessity.
Based on reported financial statements, NVCT's cash reserves have declined from a peak of $35.4 million in 2025Q3 to $25.1 million in 2026Q1, signaling a tightening liquidity buffer that leaves the firm increasingly exposed to volatility in the broader biotechnology capital markets.
While the current ratio of 2.27 suggests the company maintains sufficient short-term liquidity to cover immediate obligations, the absolute decline in cash indicates that the operational runway is shortening. This trend implies that the company may soon face pressure to secure further funding to avoid a liquidity crunch during critical clinical trial phases.
As reported in historical balance sheet data, NVCT's retained earnings have deteriorated to a deficit of $105.7 million by 2026Q1, highlighting the significant capital intensity required to sustain the company's development-stage business model in the absence of commercialized products.
The persistent growth of the accumulated deficit underscores the high-risk nature of the company's equity, which is entirely dependent on the successful clinical validation of its pipeline. This erosion of equity quality suggests that shareholders are bearing the full brunt of the company's research expenditures, with little protection from operational losses.
Data from recent balance sheets indicates that NVCT operates with zero goodwill and zero net property, plant, and equipment, which suggests that the company's valuation is almost entirely tied to intangible intellectual property that remains unproven in late-stage clinical settings.
The absence of tangible assets means that the company lacks a traditional collateral base, which may limit its ability to access non-dilutive debt financing. This structural reality forces a reliance on equity markets, making the company's balance sheet highly sensitive to market sentiment regarding its specific oncology targets.
Quick answers to the most common questions about buying NVCT stock.
As of 2025, Nuvectis Pharma, Inc. (NVCT) had total assets of $31.7M including $31.7M in current assets.
Nuvectis Pharma, Inc. (NVCT) carries total debt of $0.0M, offset by $31.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Nuvectis Pharma, Inc. (NVCT) has total shareholders' equity (book value) of $18.4M ($0.84 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Nuvectis Pharma, Inc. (NVCT) reported a current ratio of 2.38x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.