The company's financial position is increasingly precarious, with total assets declining from $16.0 million in 2025Q1 to $8.1 million by 2025Q4, reflecting significant capital erosion.
| Total Current Assets | 13.72M | 7.89M | 7.83M | 1.47M | 7.26M | 16.28M | 1.91M | 2.27M |
| Cash & Short-Term Investments | 12.36M | 7.02M | 7.15M | 1.17M | 6.44M | 15.19M | 1.79M | 2.1M |
| Cash Only | 12.36M | 7.02M | 7.15M | 1.17M | 4.39M | 15.19M | 1.79M | 2.1M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 2.05M | 0 | 0 | 0 |
| Accounts Receivable | 280K | 139K | 43K | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 58.28 | 45.18 | 365 | - | - | - | - | - |
| Inventory | 379K | 189K | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 241.8 | 210.96 | - | - | - | - | - | - |
| Other Current Assets | 699K | 541K | 303K | 101K | 825K | 0 | 0 | 20K |
| Total Non-Current Assets | 244K | 202K | 290K | 0 | 0 | 6K | 4K | 4K |
| Property, Plant & Equipment | 244K | 202K | 290K | 0 | 0 | 6K | 0 | 0 |
| Fixed Asset Turnover | 6.47x | 5.56x | 0.15x | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 4K | 4K |
| Total Assets | 13.96M | 8.1M | 8.12M | 1.47M | 7.26M | 16.29M | 1.91M | 2.27M |
| Asset Turnover | 0.13x | 0.14x | 0.01x | - | - | - | - | - |
| Asset Growth % | 12.28% | -0.28% | 453.75% | -79.82% | -55.39% | 750.94% | -15.68% | - |
| Total Current Liabilities | 1.92M | 1.96M | 1.91M | 1.18M | 1.1M | 938K | 4.1M | 805K |
| Accounts Payable | 1.12M | 799K | 586K | 561K | 534K | 525K | 162K | 538K |
| Days Payables Outstanding | 995.4 | 891.85 | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 2.77M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 801K | 1.16M | 817K | 75K | 475K | 0 | 895K | 35K |
| Current Ratio | 7.15x | 4.02x | 4.10x | 1.25x | 6.59x | 17.36x | 0.47x | 2.81x |
| Quick Ratio | 6.95x | 3.93x | 4.10x | 1.25x | 6.59x | 17.36x | 0.47x | 2.81x |
| Cash Conversion Cycle | -695.32 | -635.71 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 779K | 711K | 1.73M | 3.29M | 0 | 0 | 12.47M | 0 |
| Long-Term Debt | 78K | 107K | 0 | 0 | 0 | 0 | 23K | 0 |
| Capital Lease Obligations | 295K | 0 | 212K | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 701K | 604K | 1.52M | 3.29M | 0 | 0 | 12.45M | 0 |
| Total Liabilities | 2.7M | 2.67M | 3.64M | 4.47M | 1.1M | 938K | 16.57M | 805K |
| Total Debt | 78K | 107K | 278K | 0 | 0 | 0 | 2.79M | 0 |
| Net Debt | -12.28M | -6.92M | -6.88M | -1.17M | -4.39M | -15.19M | 995K | -2.1M |
| Debt / Equity | 0.01x | 0.02x | 0.06x | - | - | - | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.95x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -105.52x | -174.56x | -6.58x | -5.43x | - |
| Total Equity | 11.27M | 5.42M | 4.48M | -3M | 6.16M | 15.35M | -14.66M | 1.47M |
| Equity Growth % | 35.71% | 21.08% | 249.27% | -148.68% | -59.85% | 204.73% | -1100.41% | - |
| Book Value per Share | 0.30 | 0.15 | 0.19 | -0.15 | 0.34 | 0.86 | -0.85 | 0.08 |
| Total Shareholders' Equity | 11.27M | 5.42M | 4.48M | -3M | 6.16M | 15.35M | -14.66M | 1.47M |
| Common Stock | 5K | 4K | 2K | 1K | 1K | 1K | 1K | 1K |
| Retained Earnings | -64.91M | -61.39M | -50.22M | -41.41M | -31.17M | -21.28M | -14.96M | -11.16M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 17K | -16.29M | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Binary clinical trial outcome
As reported in recent financial filings, RenovoRx's equity base has fluctuated significantly, dropping from $13.2 million in 2025Q1 to $5.4 million by 2025Q4, reflecting a persistent trend of capital consumption that underscores the company's precarious position as it approaches critical clinical trial milestones.
The trajectory of the balance sheet suggests a company struggling to maintain a stable capital base while funding high-intensity R&D. Investors should monitor the recurring decline in retained earnings, which indicates that the business model remains entirely dependent on external financing to offset ongoing operational losses.
Based on the latest quarterly data, the company's cash position fell to $7.0 million in 2025Q4 from a peak of $14.6 million in 2025Q1, indicating that the current liquidity buffer is rapidly depleting as the firm continues to fund its TIGeR-PaC clinical trial program.
While the current ratio of 4.02 appears superficially healthy, it masks the reality that the company lacks recurring revenue to replenish its cash reserves. This liquidity profile suggests that management may be forced to seek dilutive capital infusions in the near term to avoid a critical funding gap.
According to historical balance sheet data, the company's retained earnings have deteriorated to -$61.4 million as of 2025Q4, a clear indicator that the firm's equity value is being systematically eroded by the high costs associated with its pre-commercial clinical development activities.
The negative equity position observed in 2023Q4 and the subsequent reliance on equity financing highlight the lack of internal capital generation. This pattern suggests that shareholders face significant dilution risk, as the company must continuously issue equity to sustain operations until a potential commercial inflection point.
As indicated by the company's financial statements, the asset base is almost entirely composed of cash and minimal property, plant, and equipment, with total assets falling from $16.0 million in 2025Q1 to $8.1 million by 2025Q4, signaling a lack of tangible value beyond the clinical trial asset.
The absence of significant goodwill or intangible assets on the balance sheet suggests that the company's valuation is tied exclusively to the intellectual property of the TAMP technology. Investors should be aware that this concentration creates a binary risk profile where the balance sheet provides no cushion if clinical outcomes fail to meet expectations.
Quick answers to the most common questions about buying RNXT stock.
As of 2025, RenovoRx, Inc. (RNXT) had total assets of $8.1M including $7.9M in current assets.
RenovoRx, Inc. (RNXT) carries total debt of $0.1M, offset by $7.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
RenovoRx, Inc. (RNXT) has total shareholders' equity (book value) of $5.4M ($0.15 book value per share). Book value represents the net worth of the company belonging to common stock holders.
RenovoRx, Inc. (RNXT) reported a current ratio of 4.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.