The asset base is heavily distorted by $7.1 million in goodwill, which represents the majority of the $11.2 million in total assets and masks a precarious financial position.
| Total Current Assets | 3.91M | 4.35M | 4.43M | 9.8M | 12.28M | 19.02M | 17.79M | 972K | 80K | 213K |
| Cash & Short-Term Investments | 3.48M | 4.17M | 4.26M | 8.03M | 4.1M | 16.54M | 15.68M | 941K | 40K | 187K |
| Cash Only | 3.48M | 4.17M | 4.26M | 8.03M | 4.1M | 16.54M | 15.68M | 941K | 40K | 187K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 142K | 119K | 45K | 55K | 218K | 53K | 22K | 28K | 0 |
| Days Sales Outstanding | - | 3.05K | - | - | 233.43 | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 7.82M | 0 | 2.04M | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | 190.36K | - | - | - | - | - |
| Other Current Assets | 15K | 7K | 10K | 10K | 10K | 507K | 33K | 6K | 6K | 26K |
| Total Non-Current Assets | 7.25M | 7.65M | 97K | 131K | 44K | 53K | 10K | 192K | 1K | 1K |
| Property, Plant & Equipment | 84K | 56K | 97K | 131K | 44K | 53K | 10K | 0 | 1K | 1K |
| Fixed Asset Turnover | 0.00x | 0.30x | - | - | 1.95x | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 7.12M | 7.59M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 50K | 0 | 0 | 0 | 0 | 0 | 0 | 192K | 0 | 0 |
| Total Assets | 11.16M | 12M | 4.53M | 9.93M | 12.33M | 19.07M | 17.8M | 1.16M | 81K | 214K |
| Asset Turnover | 0.00x | 0.00x | - | - | 0.01x | - | - | - | - | - |
| Asset Growth % | 254.28% | 165.15% | -54.43% | -19.45% | -35.36% | 7.15% | 1429.3% | 1337.04% | -62.15% | - |
| Total Current Liabilities | 2.46M | 2.44M | 2.44M | 2.41M | 1.06M | 757K | 961K | 6.34M | 18K | 135K |
| Accounts Payable | 164K | 213K | 296K | 221K | 209K | 136K | 720K | 0 | 2K | 64K |
| Days Payables Outstanding | - | 92.11 | 6.75K | 5.38K | 5.09K | 7.09K | - | - | - | - |
| Short-Term Debt | 0 | 21K | 45K | 0 | 0 | 0 | 0 | 6.17M | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 1.87M | 152K | 465K | 0 | 0 | 0 | -166K | 16K | 71K |
| Current Ratio | 1.59x | 1.78x | 1.81x | 4.07x | 11.55x | 25.13x | 18.51x | 0.15x | 4.44x | 1.58x |
| Quick Ratio | 1.59x | 1.78x | 1.81x | 4.07x | 4.19x | 25.13x | 16.39x | 0.15x | 4.44x | 1.58x |
| Cash Conversion Cycle | - | - | - | - | 185.51K | - | - | - | - | - |
| Total Non-Current Liabilities | 263K | 267K | 259K | 281K | 243K | 234K | 220K | 447K | 4.52M | 3.71M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.52M | 3.71M |
| Capital Lease Obligations | 0 | 0 | 0 | 30K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 251K | 243K | 234K | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 263K | 267K | 259K | 0 | 0 | 0 | 220K | 447K | 0 | 0 |
| Total Liabilities | 2.72M | 2.71M | 2.7M | 2.69M | 1.31M | 991K | 1.18M | 6.79M | 4.54M | 3.84M |
| Total Debt | 56K | 21K | 45K | 86K | 0 | 0 | 0 | 6.17M | 4.52M | 3.71M |
| Net Debt | -3.42M | -4.14M | -4.22M | -7.94M | -4.1M | -16.54M | -15.68M | 5.23M | 4.48M | 3.52M |
| Debt / Equity | 0.01x | 0.00x | 0.02x | 0.01x | - | - | - | - | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.87x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | -498.70x | -1040.43x | -24.96x | -143.77x | -723.00x | -1.69x | -1.27x | -1.55x | - |
| Total Equity | 8.44M | 9.29M | 1.82M | 7.24M | 11.02M | 18.08M | 16.62M | -5.62M | -4.46M | -3.63M |
| Equity Growth % | 716.85% | 409.32% | -74.8% | -34.32% | -39.05% | 8.8% | 395.62% | -26.14% | -22.82% | - |
| Book Value per Share | 99.40 | 14.34 | 100.54 | 3317.60 | 6202.03 | 11059.33 | 8514.34 | -3624.76 | -1932.78 | -1573.72 |
| Total Shareholders' Equity | 8.44M | 8.54M | 1.82M | 7.24M | 11.02M | 18.08M | 16.62M | -5.62M | -4.46M | -3.63M |
| Common Stock | 0 | 0 | 0 | 147K | 94K | 94K | 78K | 5K | 5K | 5K |
| Retained Earnings | -58.77M | -61.29M | -56.45M | -41.86M | -32.52M | -23.73M | -16.48M | -12.43M | -11.15M | -10.32M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 747K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent financial statements, PRFX's equity base has experienced significant volatility, dropping from $8.9 million in 2023Q1 to $8.4 million in 2025Q2, while the accumulation of a $58.8 million deficit in retained earnings highlights a persistent and deepening erosion of shareholder value.
The company's trajectory reflects a classic pre-revenue biotech struggle where capital consumption consistently outpaces value creation. The recent stabilization of equity at $8.4 million appears contingent on external financing rather than operational success, suggesting that the business quality remains highly speculative and dependent on future clinical milestones.
Based on the 2025Q2 balance sheet, PRFX reports $7.1 million in goodwill, which constitutes the vast majority of its $11.2 million in total assets, indicating that the company's asset base is heavily reliant on intangible valuations rather than tangible manufacturing or research infrastructure.
The sudden appearance of goodwill in late 2024 suggests a recent acquisition or accounting adjustment that warrants further investigation, as it provides little tangible support for the company's ongoing clinical operations. Investors should monitor whether this intangible asset is subject to future impairment, which would further weaken an already fragile balance sheet.
According to the latest quarterly data, PRFX maintains a cash balance of $3.5 million, which, when measured against the company's historical quarterly burn rate, suggests a limited runway that may necessitate immediate capital market intervention to sustain ongoing Phase 3 clinical trial activities.
While the current ratio of 1.59 appears superficially adequate, the lack of recurring revenue means that liquidity is entirely dependent on the timing of equity raises. The company's inability to maintain a consistent cash buffer suggests that operational flexibility is severely constrained, leaving little room for clinical delays or unexpected regulatory hurdles.
As indicated by the financial filings, the company's reliance on minimal debt and equity-heavy financing masks the underlying risk of extreme shareholder dilution, as the $58.8 million in accumulated losses necessitates constant capital infusions that fundamentally alter the ownership structure of the firm.
The nominal debt levels of $56,000 are misleading, as the true liability is the ongoing operational deficit that must be funded by shareholders. This structure implies that the company is effectively a binary bet on the success of PRF-110, with the balance sheet providing no cushion against the high probability of further dilutive financing rounds.
Quick answers to the most common questions about buying PRFX stock.
As of 2025, PRF Technologies Ltd. (PRFX) had total assets of $12.0M including $4.4M in current assets.
PRF Technologies Ltd. (PRFX) carries total debt of $0.0M, offset by $4.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
PRF Technologies Ltd. (PRFX) has total shareholders' equity (book value) of $8.5M ($14.34 book value per share). Book value represents the net worth of the company belonging to common stock holders.
PRF Technologies Ltd. (PRFX) reported a current ratio of 1.78x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.