The balance sheet remains structurally weak, evidenced by a $3.2 million debt load and a history of negative equity, including a -$37,000 reading in 2025Q4.
| Total Current Assets | 26.47M | 6.08M | 5.68M | 7.62M | 2.45M | 2.23M | 2.28M | 4.05M | 7.85M | 7.59M | 688K |
| Cash & Short-Term Investments | 24.53M | 3.06M | 3.67M | 7.62M | 645K | 584K | 527K | 2.35M | 6.71M | 7.38M | 259K |
| Cash Only | 24.53M | 3.06M | 3.67M | 7.62M | 645K | 584K | 527K | 2.35M | 6.71M | 7.38M | 259K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 4K | 25K | 326K | 363K | 131K | 107K | 308K |
| Days Sales Outstanding | - | - | - | - | 2.92 | 2.63 | 2.2K | 76.68 | 34.25 | 27.82 | 67.48 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 333K | 3.02M | 77K | 0 | 1.8M | 1.63M | 1.43M | 1.34M | 1.01M | 111K | 121K |
| Total Non-Current Assets | 825K | 871K | 1.05M | 1.35M | 788K | 920K | 1.64M | 3.39M | 2.82M | 2.04M | 2.54M |
| Property, Plant & Equipment | 800K | 842K | 1.05M | 1.35M | 0 | 0 | 0 | 1.13M | 90K | 129K | 195K |
| Fixed Asset Turnover | 0.15x | - | 0.05x | 2.34x | - | - | - | 1.53x | 15.51x | 10.88x | 8.54x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 738K | 0 | 1.59M | 2.15M | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 50K | 50K | 50K | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 25K | 29K | 0 | 0 | 0 | 870K | 0 | 111K | 2.73M | 1.91M | 2.34M |
| Total Assets | 27.3M | 6.95M | 6.72M | 8.97M | 3.24M | 3.15M | 3.92M | 7.44M | 10.67M | 9.63M | 3.22M |
| Asset Turnover | 0.01x | - | 0.01x | 0.35x | 0.15x | 1.10x | 0.01x | 0.23x | 0.13x | 0.15x | 0.52x |
| Asset Growth % | 359.4% | 3.38% | -25.02% | 176.7% | 2.76% | -19.64% | -47.26% | -30.26% | 10.8% | 198.82% | - |
| Total Current Liabilities | 6.34M | 3.56M | 2.37M | 1.41M | 10.08M | 8.97M | 5.36M | 3.3M | 2.44M | 1.31M | 25.6M |
| Accounts Payable | 2.83M | 1.93M | 744K | 580K | 568K | 193K | 761K | 420K | 150K | 75K | 261K |
| Days Payables Outstanding | 24.68K | - | 1.4K | 2.35K | - | 18.55 | 216.83 | 153.53 | 65.1 | 39.96 | 104.57 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 7.65M | 7.14M | 2.4M | 428K | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 275K | 283K | 317K | 180K | 264K |
| Other Current Liabilities | 2.64M | 1.63M | 1.06M | 250K | 1.67M | 1.63M | 1.93M | 2.17M | 1.97M | 1.06M | 25.07M |
| Current Ratio | 4.18x | 1.71x | 2.40x | 5.39x | 0.24x | 0.25x | 0.43x | 1.23x | 3.22x | 5.79x | 0.03x |
| Quick Ratio | 4.18x | 1.71x | 2.40x | 5.39x | 0.24x | 0.25x | 0.43x | 1.23x | 3.22x | 5.79x | 0.03x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 3.33M | 3.42M | 3.85M | 39.85M | 10.48M | 6.06M | 3.96M | 1.53M | 0 | 0 | 0 |
| Long-Term Debt | 3.01M | 196K | 0 | 2.98M | 10.48M | 6.06M | 3.9M | 1.53M | 0 | 0 | 0 |
| Capital Lease Obligations | 688K | 0 | 268K | 462K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 162K | 3.23M | 3.58M | 36.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 9.67M | 6.99M | 6.22M | 41.26M | 20.56M | 15.03M | 9.32M | 4.83M | 2.44M | 1.31M | 25.6M |
| Total Debt | 3.17M | 196K | 268K | 3.44M | 18.12M | 13.2M | 6.3M | 1.96M | 0 | 0 | 0 |
| Net Debt | -21.36M | -2.86M | -3.4M | -4.17M | 17.48M | 12.62M | 5.77M | -396K | -6.71M | -7.38M | -259K |
| Debt / Equity | 0.18x | - | 0.53x | - | - | - | - | 0.75x | - | - | - |
| Debt / EBITDA | -0.13x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.88x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -851.75x | -89.13x | -20.31x | 10.44x | -167.92x | -407.76x | -24.74x | - | - | -701.42x | -509.56x |
| Total Equity | 17.63M | -37K | 508K | -32.29M | -17.32M | -11.88M | -5.4M | 2.62M | 8.23M | 8.32M | -22.38M |
| Equity Growth % | 1145.01% | -107.28% | 101.57% | -86.51% | -45.81% | -120.07% | -306.19% | -68.21% | -1.06% | 137.18% | - |
| Book Value per Share | 1.46 | -0.00 | 0.07 | -3.84 | -16.05 | -11.02 | -5.04 | 2.47 | 8.29 | 8.17 | -21.96 |
| Total Shareholders' Equity | 17.63M | -37K | 641K | 4.11M | -17.21M | -11.83M | -5.12M | 2.22M | 7.45M | 7.28M | -23.42M |
| Common Stock | 1K | 1K | 1K | 0 | 4K | 4K | 4K | 4K | 4K | 3K | 3K |
| Retained Earnings | -70.4M | -63.5M | -44.32M | -33.18M | -116.21M | -105.75M | -97.07M | -86.21M | -74.05M | -66.55M | -59.97M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -8K | -14K | 0 | 0 | 0 | 0 | 143K | 69K | -2K | 68K | 58K |
| Minority Interest | 0 | 0 | -133K | 0 | -103K | -43K | -280K | 399K | 784K | 1.04M | 1.04M |
Imminent liquidity and dilution
As reported in recent financial statements, Serina Therapeutics' total assets fluctuated from $7.4 million in 2024Q3 to $27.3 million by 2026Q1, indicating a highly unstable balance sheet trajectory that appears driven by sporadic capital raises rather than consistent, organic growth in the company's underlying asset base.
The erratic movement in total assets and equity suggests that the company is operating in a reactive mode, heavily dependent on external financing to maintain its clinical programs. Investors should monitor whether this volatility stabilizes as the company attempts to advance its POZ platform, or if it signals a permanent state of financial fragility.
Based on the most recent 2026Q1 data, the company reports a current ratio of 4.18, yet this figure masks a precarious cash position of $3.056 million, which, when compared to historical burn rates, suggests a limited runway that warrants significant caution regarding near-term operational continuity.
While the current ratio appears superficially healthy, the absolute dollar amount of cash is insufficient to support long-term clinical development without further capital injections. This suggests that the company's liquidity is highly sensitive to the timing of milestone payments or additional equity offerings, leaving little room for error.
According to historical balance sheet data, the company's equity position has frequently dipped into negative territory, including a -$37,000 reading in 2025Q4, which underscores the severe impact of accumulated deficits and the ongoing dilution required to sustain the firm's research-heavy, pre-revenue business model.
The persistent negative retained earnings, which reached -$70.4 million in 2026Q1, indicate that the company has yet to achieve a self-sustaining economic model. This trend suggests that shareholder value is being consistently eroded by the necessity of funding R&D through equity issuance, which may continue to pressure the stock price.
As indicated by the provided financial disclosures, the company's reliance on debt, which stood at $3.2 million in 2026Q1, combined with the absence of deferred revenue, suggests that the firm lacks non-dilutive financing sources, leaving it uniquely exposed to the volatility of the broader biotechnology capital markets.
The presence of debt on a pre-revenue balance sheet is an unusual and potentially risky feature that warrants further investigation into the terms and covenants of these obligations. Investors should consider that this debt may impose additional constraints on management's flexibility during periods of clinical uncertainty or market downturns.
Quick answers to the most common questions about buying SER stock.
As of 2025, Serina Therapeutics, Inc. (SER) had total assets of $7.0M including $6.1M in current assets.
Serina Therapeutics, Inc. (SER) carries total debt of $0.2M, offset by $3.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Serina Therapeutics, Inc. (SER) has total shareholders' equity (book value) of $-0.0M ($-0.00 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Serina Therapeutics, Inc. (SER) reported a current ratio of 1.71x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.