The capital structure appears highly unstable, with total liabilities ballooning to $18.1 million and a current ratio of 0.05, indicating significant liquidity constraints relative to the firm's obligations.
| Total Current Assets | 917.55K | 332.91K | 5.53M | 790.03K | 496.83K | 312.81K | 1.68B |
| Cash & Short-Term Investments | 917.55M | 269.83M | 5.53M | 38.98K | 171.48K | 80.79K | 1.23B |
| Cash Only | 917.55M | 269.83M | 5.53M | 38.98K | 171.48K | 80.79K | 1.23B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 1.15K | 231.07K | 430.49M |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | -916.63M | -269.56M | 0 | 751.05K | 324.21K | 0 | 12.8M |
| Total Non-Current Assets | 6.38M | 6.51M | 5.27K | 8.05K | 12.27K | 13.08K | 1.95M |
| Property, Plant & Equipment | 1.79M | 2.49M | 5.27K | 8.05K | 12.27K | 13.08K | 1.95M |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 6.38M | 6.5M | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | -1.79M | -2.49M | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 7.3M | 6.84M | 5.54M | 798.08K | 509.11K | 325.89K | 1.68B |
| Asset Turnover | 0.00x | - | - | - | - | - | - |
| Asset Growth % | 1116.21% | 23.48% | 594.01% | 56.76% | 56.22% | -99.98% | - |
| Total Current Liabilities | 16.95M | 11.76M | 4.63M | 24.71M | 6.15M | 3.5M | 2.1B |
| Accounts Payable | 13.85M | 9.94M | 1.66M | 2.72M | 1.23M | 856.52K | 40K |
| Days Payables Outstanding | 7.52K | 9.99K | 218.22K | 234.86K | 555.5K | 269.59 | 3.44K |
| Short-Term Debt | 1.34B | 0 | 0 | 14.61M | 0 | 0 | 871.25M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | -1.34B | 0 | 2.35M | 4.71M | 3.04M | 1.61M | 809.03M |
| Current Ratio | 0.05x | 0.03x | 1.20x | 0.03x | 0.08x | 0.09x | 0.80x |
| Quick Ratio | 0.05x | 0.03x | 1.20x | 0.03x | 0.08x | 0.09x | 0.80x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.17M | 1.17M | 100K | 100K | 11.92M | 8.28M | 5.9B |
| Long-Term Debt | 0 | 0 | 0 | 0 | 10.35M | 7.07M | 5.9B |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.07M | 1.07M | 100K | 0 | 1.47M | 1.11M | 0 |
| Total Liabilities | 18.12M | 12.94M | 4.73M | 24.81M | 18.07M | 11.78M | 8B |
| Total Debt | 1.34B | 0 | 0 | 14.61M | 10.35M | 7.07M | 6.77B |
| Net Debt | 425.39M | -269.83M | -5.53M | 14.57M | 10.18M | 6.99M | 5.54B |
| Debt / Equity | -124.07x | - | - | - | - | - | - |
| Debt / EBITDA | -40.22x | - | - | - | - | - | - |
| Net Debt / EBITDA | -12.74x | - | - | - | - | - | - |
| Interest Coverage | -465.13x | - | -3.33x | -1.26x | -2.46x | -1.87x | -0.00x |
| Total Equity | -10.82M | -6.1M | 811.49K | -24.02M | -17.56M | -11.45M | -6.33B |
| Equity Growth % | -1824.3% | -851.17% | 103.38% | -36.79% | -53.32% | 99.82% | - |
| Book Value per Share | -0.28 | -0.21 | 0.04 | -1.20 | -0.76 | -0.50 | -751.22 |
| Total Shareholders' Equity | -9.75M | -6.1M | 811.49K | -24.02M | -17.56M | -11.45M | -6.33B |
| Common Stock | 39.28K | 37.12K | 20.87K | 5.34K | 4.99K | 9.98K | 8.84M |
| Retained Earnings | -77.58M | -67.19M | -40.4M | -29.52M | -21.6M | -15.22M | -6.34B |
| 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 execution failure
As reported in recent financial filings, OSTX has experienced significant balance sheet instability, with total equity swinging from a deficit of $27.1 million in 2024Q2 to a negative $9.8 million in 2026Q1, reflecting the persistent erosion of shareholder value through ongoing clinical development expenditures.
The trajectory of the balance sheet suggests a firm struggling to maintain a stable equity base while funding high-cost R&D. Investors should monitor the recurring negative equity positions, which indicate that the company's accumulated losses continue to outpace its ability to raise non-dilutive capital.
Based on the 2026Q1 balance sheet, the company maintains a cash position of $917.6 million, yet the current ratio of 0.05 suggests that immediate liquidity remains severely constrained relative to the firm's total liabilities, which have ballooned to $18.1 million in the most recent quarter.
While the headline cash balance appears substantial, the extremely low current ratio implies that the company's short-term obligations are poorly covered by liquid assets. This discrepancy warrants further investigation into the nature of these liabilities and whether they represent immediate cash-settlement requirements that could threaten the clinical runway.
According to historical balance sheet data, OSTX has consistently reported negative retained earnings, which reached $77.6 million in 2026Q1, signaling that the company's primary source of equity is external financing rather than internally generated value from its therapeutic pipeline.
The persistent negative retained earnings highlight the company's status as a pre-revenue entity that is entirely dependent on capital markets. The lack of positive equity quality suggests that shareholders are exposed to significant dilution risk as the firm continues to fund its operations through equity issuance.
As indicated by the 2026Q1 data, the presence of $1.3 billion in total debt alongside only $7.3 million in total assets suggests a highly distorted balance sheet, likely reflecting complex financing arrangements or warrant-related liabilities that obscure the company's true economic leverage.
The massive disparity between total debt and total assets is a significant red flag that suggests the headline numbers may not reflect the company's actual operational risk. Investors should be cautious, as these figures may imply that the firm has entered into financing agreements that could impose severe constraints on future capital allocation.
Quick answers to the most common questions about buying OSTX stock.
As of 2025, OS Therapies Incorporated (OSTX) had total assets of $6.8M including $0.3M in current assets.
OS Therapies Incorporated (OSTX) carries total debt of $0.0M, offset by $269.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
OS Therapies Incorporated (OSTX) has total shareholders' equity (book value) of $-6.1M ($-0.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
OS Therapies Incorporated (OSTX) reported a current ratio of 0.03x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.