The balance sheet reflects a transformative recapitalization, with total assets increasing to $198.7 million in 2026Q1 and a robust current ratio of 13.78.
| Total Current Assets | 197.48M | 60.84M | 113M | 33.77M | 13.62M | 153.73M | 55.02M |
| Cash & Short-Term Investments | 192.11M | 59.05M | 110.76M | 29.88M | 11.54M | 147.67M | 53.61M |
| Cash Only | 192.11M | 59.05M | 110.76M | 29.88M | 11.54M | 124.66M | 53.61M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 23.01M | 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 | 5.38M | 1.79M | 0 | 0 | 840K | 6.06M | 1.41M |
| Total Non-Current Assets | 1.21M | 1.28M | 1.9M | 1.97M | 2.38M | 290K | 196K |
| Property, Plant & Equipment | 807K | 1M | 1.79M | 1.91M | 2.05M | 212K | 69K |
| 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 | 405K | 273K | 109K | 58K | 329K | 78K | 127K |
| Total Assets | 198.69M | 62.12M | 114.91M | 35.73M | 16M | 154.02M | 55.22M |
| Asset Turnover | 0.00x | - | - | - | - | - | - |
| Asset Growth % | 284.68% | -45.94% | 221.56% | 123.35% | -89.61% | 178.92% | - |
| Total Current Liabilities | 14.33M | 5.92M | 10.53M | 7.29M | 5.54M | 6.2M | 4.58M |
| Accounts Payable | 11.02M | 1.43M | 2.97M | 3.42M | 2.52M | 0 | 0 |
| Days Payables Outstanding | - | 630.17 | - | - | - | - | - |
| Short-Term Debt | 409K | 549K | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.9M | 3.94M | 3.17M | 1.66M | 1.46M | 6.2M | 4.58M |
| Current Ratio | 13.78x | 10.28x | 10.73x | 4.64x | 2.46x | 24.79x | 12.01x |
| Quick Ratio | 13.78x | 10.28x | 10.73x | 4.64x | 2.46x | 24.79x | 12.01x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 12K | 12K | 549K | 130.29M | 64.88M | 611K | 92.76M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 92.72M |
| Capital Lease Obligations | 267K | 0 | 549K | 466K | 486K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 12K | 12K | 0 | 129.82M | 64.39M | 444K | 0 |
| Total Liabilities | 14.34M | 5.93M | 11.08M | 137.58M | 70.42M | 6.81M | 97.34M |
| Total Debt | 409K | 549K | 1.08M | 674K | 637K | 0 | 92.72M |
| Net Debt | -191.7M | -58.5M | -109.68M | -29.2M | -10.91M | -124.66M | 39.11M |
| Debt / Equity | 0.00x | 0.01x | 0.01x | - | - | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - |
| Net Debt / EBITDA | 3.15x | - | - | - | - | - | - |
| Interest Coverage | -5448.00x | - | -174.58x | - | - | - | - |
| Total Equity | 184.35M | 56.18M | 103.83M | -101.84M | -54.42M | 147.21M | -42.12M |
| Equity Growth % | 210.48% | -45.89% | 201.95% | -87.15% | -136.97% | 449.55% | - |
| Book Value per Share | 13.48 | 4.16 | 7.78 | -7.63 | -4.08 | 81.14 | -16.75 |
| Total Shareholders' Equity | 184.35M | 56.18M | 103.83M | -101.84M | -54.42M | 147.21M | -42.12M |
| Common Stock | 4K | 1K | 1K | 0 | 1K | 3K | 1K |
| Retained Earnings | -229.4M | -214.24M | -154.72M | -102.05M | -57.07M | -84.73M | -44.96M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 34K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial funding runway
According to recent SEC filings, OnKure's total assets surged to $198.7 million in 2026Q1 from $62.1 million in 2025Q4, reflecting a transformative shift in the company's financial trajectory following the successful completion of the reverse merger with Reneo Pharmaceuticals.
This significant expansion in the asset base provides a necessary buffer for the company's ongoing clinical development programs. Investors should monitor whether this capital is deployed efficiently to reach critical data readouts or if it merely delays the necessity for future dilutive financing rounds.
As reported in financial statements, the company maintains a current ratio of 13.78 as of 2026Q1, indicating a substantial liquidity cushion that appears sufficient to fund operations through the near-term clinical milestones for the OKI-179 program.
The high current ratio is primarily driven by the recent influx of cash, which mitigates immediate insolvency risks. However, given the company's persistent cash burn, this liquidity should be viewed as a finite resource that requires disciplined management to ensure the company reaches its next value-inflection point.
Based on OnKure's reported figures, equity improved from a deficit of $123.6 million in 2024Q2 to a positive $184.4 million by 2026Q1, signaling a successful recapitalization that has effectively cleared the balance sheet of legacy liabilities.
The transition from negative equity to a positive position suggests that the reverse merger was a critical strategic move to restore financial viability. Analysts should remain cautious, as the accumulation of retained earnings losses, now at $229.4 million, highlights the ongoing cost of drug development.
As indicated by the provided balance sheet data, OnKure holds minimal property, plant, and equipment, with net PPE totaling only $807,000 in 2026Q1, confirming an asset-light business model focused exclusively on outsourced clinical research and development.
The lack of significant tangible assets is typical for a clinical-stage biotech firm, emphasizing that the company's true value resides in its intellectual property and clinical trial data. This structure minimizes fixed overhead but leaves the company highly vulnerable to fluctuations in external CRO costs.
Based on an analysis of historical filings, the dramatic volatility in liabilities and equity between 2024Q2 and 2026Q1 suggests that headline balance sheet figures are heavily distorted by the accounting treatment of the Reneo Pharmaceuticals merger.
Investors should be wary of treating these balance sheet improvements as purely organic growth, as they likely incorporate one-time accounting adjustments. Further investigation into potential contingent liabilities or legacy obligations from the merger is warranted to ensure the current financial health is sustainable.
Quick answers to the most common questions about buying OKUR stock.
As of 2025, OnKure Therapeutics, Inc. (OKUR) had total assets of $62.1M including $60.8M in current assets.
OnKure Therapeutics, Inc. (OKUR) carries total debt of $0.5M, offset by $59.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
OnKure Therapeutics, Inc. (OKUR) has total shareholders' equity (book value) of $56.2M ($4.16 book value per share). Book value represents the net worth of the company belonging to common stock holders.
OnKure Therapeutics, Inc. (OKUR) reported a current ratio of 10.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.