The firm maintains a conservative capital structure with a debt-to-equity ratio of 0.11, though total assets have eroded from $18.0 million in 2022Q4 to $5.8 million by 2025Q4.
| Total Current Assets | 4.9M | 8.11M | 11.62M | 16.44M | 66.85K | 386.98K | 243.31K |
| Cash & Short-Term Investments | 4.9M | 7.96M | 11.56M | 16.42M | 59.41K | 386.98K | 243.31K |
| Cash Only | 2.42M | 2.96M | 1.56M | 6.42M | 59.41K | 386.98K | 243.31K |
| Short-Term Investments | 2.48M | 5M | 10M | 10M | 0 | 0 | 0 |
| Accounts Receivable | 0 | 152.78K | 56.55K | 27.6K | 7.44K | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | -56.55K | -27.6K | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 5.8K | 0 | 0 | 0 | -7.44K | 0 | 0 |
| Total Non-Current Assets | 852.77K | 324.2K | 1M | 1.57M | 273.29K | 127.04K | 0 |
| Property, Plant & Equipment | 759.82K | 226.51K | 891.91K | 1.46M | 81.86K | 108.32K | 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 | 92.95K | 97.68K | 108.5K | 114.3K | 191.42K | 18.72K | 0 |
| Total Assets | 5.76M | 8.44M | 12.62M | 18.02M | 340.13K | 514.02K | 243.31K |
| Asset Turnover | - | - | - | - | - | - | - |
| Asset Growth % | -31.79% | -33.15% | -29.95% | 5197.59% | -33.83% | 111.26% | - |
| Total Current Liabilities | 663.67K | 193.58K | 606.91K | 577.76K | 4.34M | 3.16M | 2.08M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - |
| Short-Term Debt | 312.78K | 0 | 0 | 410.99K | 3.68M | 3.07M | 2.08M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 350.89K | 0 | 0 | -410.99K | 0 | 0 | 0 |
| Current Ratio | 7.39x | 41.92x | 19.15x | 28.46x | 0.02x | 0.12x | 0.12x |
| Quick Ratio | 7.39x | 41.92x | 19.24x | 28.51x | 0.02x | 0.12x | 0.12x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 231.63K | 25.93K | 25.41K | 360.27K | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 231.63K | 25.93K | 25.41K | 360.27K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 895.31K | 219.51K | 632.32K | 938.03K | 4.34M | 3.16M | 2.08M |
| Total Debt | 544.41K | 85.74K | 463.67K | 771.25K | 3.68M | 3.07M | 2.08M |
| Net Debt | -1.87M | -2.88M | -1.1M | -5.65M | 3.62M | 2.68M | 1.84M |
| Debt / Equity | 0.11x | 0.01x | 0.04x | 0.05x | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - |
| Total Equity | 4.86M | 8.22M | 11.99M | 17.08M | -4M | -2.65M | -1.84M |
| Equity Growth % | -40.86% | -31.45% | -29.81% | 527.27% | -50.8% | -44.19% | - |
| Book Value per Share | 0.01 | 0.02 | 0.02 | 0.03 | -0.01 | -0.01 | -0.00 |
| Total Shareholders' Equity | 4.86M | 8.22M | 12.03M | 17.07M | -4M | -2.65M | -1.84M |
| Common Stock | 4.95K | 130 | 130 | 130 | 100 | 100 | 100 |
| Retained Earnings | -25.2M | -21.62M | -17.32M | -11.44M | -4M | -2.65M | -1.84M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -64.79K | -45.77K | -86.66K | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | -40.9K | 15.39K | 0 | 0 | 0 |
Clinical Trial Funding Exhaustion
According to recent financial filings, Regencell's total assets have contracted from $18.0 million in 2022Q4 to $5.8 million by 2025Q4, reflecting a consistent downward trajectory that highlights the firm's inability to replenish its resource base while operating as a pre-revenue clinical entity.
The steady decline in total assets suggests that the company is consuming its capital base to fund ongoing research without achieving commercial milestones. This trend indicates that the business model remains entirely dependent on external financing, which may become increasingly difficult to secure as the asset base shrinks.
As reported in financial statements, the company's cash and equivalents have dwindled to $2.4 million as of 2025Q4, a significant reduction from previous periods that leaves the firm with a limited buffer to sustain its current clinical trial and operational burn rate.
While the current ratio of 7.39 appears high, it is largely a function of the company's minimal liability structure rather than robust liquidity. Investors should monitor this cash position closely, as the lack of revenue generation means that any further depletion will likely necessitate dilutive equity financing.
Based on reported figures, Regencell maintains a negligible debt-to-equity ratio of 0.11, suggesting that management has avoided traditional debt financing in favor of equity-based capital, likely due to the absence of stable cash flows required to service interest obligations.
The low leverage profile appears to be a necessity rather than a strategic choice, given the company's pre-revenue status. While this avoids immediate insolvency risk from debt service, it leaves the firm entirely exposed to the volatility of equity markets for its survival.
As indicated by the company's balance sheet, retained earnings have plummeted to a deficit of $25.2 million by 2025Q4, illustrating the cumulative impact of years of research-heavy operations without any offsetting commercial revenue to bolster shareholder equity.
The persistent negative retained earnings suggest that the company is effectively eroding its book value to fund R&D. This trend warrants further investigation into whether the current valuation of equity can be sustained without a clear path to commercialization or a significant pivot in the business model.
Based on the provided data, the company's asset mix is heavily skewed toward cash and minimal PPE, with $759.8K in net property, plant, and equipment, which may indicate an attempt to build internal manufacturing capabilities that remain unproven in a commercial context.
The presence of PPE in a pre-revenue firm may imply that the company is prematurely investing in infrastructure before validating its TCM formulas. This strategy appears risky, as it ties up limited capital in fixed assets that may not be utilized if clinical trials fail to meet regulatory standards.
Quick answers to the most common questions about buying RGC stock.
As of 2025, Regencell Bioscience Holdings Limited (RGC) had total assets of $5.8M including $4.9M in current assets.
Regencell Bioscience Holdings Limited (RGC) carries total debt of $0.5M, offset by $4.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Regencell Bioscience Holdings Limited (RGC) has total shareholders' equity (book value) of $4.9M ($0.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Regencell Bioscience Holdings Limited (RGC) reported a current ratio of 7.39x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.