The capital structure is increasingly fragile, with total assets contracting from $74.4 million in 2023Q4 to $22.9 million by 2025Q4, leaving the firm with minimal tangible collateral.
| Total Current Assets | 204.23M | 21.51M | 41.93M | 67.25M | 108.59M | 148.54M | 20.08M | 502K | 1.28M |
| Cash & Short-Term Investments | 202.79M | 21.18M | 41.34M | 65.76M | 107.12M | 147.62M | 16.6M | 251K | 653K |
| Cash Only | 152.32M | 8.67M | 9.99M | 13.01M | 17.8M | 7.16M | 16.6M | 251K | 653K |
| Short-Term Investments | 50.47M | 12.52M | 31.34M | 52.75M | 89.32M | 140.46M | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.44M | 323K | 120K | 325K | 344K | 374K | 2.1M | 0 | 123K |
| Total Non-Current Assets | 1.15M | 1.4M | 3.43M | 7.12M | 9.79M | 4.68M | 1.35M | 715K | 570K |
| Property, Plant & Equipment | 982K | 1.38M | 3.38M | 7.04M | 9.72M | 4.64M | 1.27M | 268K | 123K |
| Fixed Asset Turnover | -3.06x | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 167K | 18K | 48K | 86K | 63K | 39K | 86K | 447K | 447K |
| Total Assets | 205.38M | 22.9M | 45.36M | 74.37M | 118.38M | 153.22M | 21.43M | 1.22M | 1.85M |
| Asset Turnover | -0.07x | - | - | - | - | - | - | - | - |
| Asset Growth % | 292.07% | -49.51% | -39.01% | -37.17% | -22.74% | 615.07% | 1660.72% | -34.22% | - |
| Total Current Liabilities | 14.19M | 4.25M | 5.45M | 5.64M | 9.07M | 4.89M | 4.83M | 21.71M | 2.66M |
| Accounts Payable | 0 | 0 | 1.25M | 1.69M | 4.47M | 2.46M | 3.88M | 3.45M | 1.11M |
| Days Payables Outstanding | 0.47 | - | 826.72 | 1.08K | 903.01 | 1.31K | 6.78K | 17.25K | 9.19K |
| Short-Term Debt | 1.04M | 1.45M | 2.32M | 0 | 0 | 0 | 0 | 16.05M | 696K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.08M | 652K |
| Other Current Liabilities | 13.15M | 2.8M | 0 | 0 | 0 | 0 | 0 | -1.96M | 207K |
| Current Ratio | 14.39x | 5.06x | 7.70x | 11.92x | 11.98x | 30.38x | 4.16x | 0.02x | 0.48x |
| Quick Ratio | 14.39x | 5.06x | 7.70x | 11.92x | 11.98x | 30.38x | 4.16x | 0.02x | 0.48x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1K | 59K | 1.53M | 3.84M | 5.9M | 1.82M | 705K | 48.16M | 52.67M |
| Long-Term Debt | 0 | 59K | 0 | 0 | 0 | 0 | 567K | 0 | 4.05M |
| Capital Lease Obligations | 742K | 0 | 1.53M | 3.77M | 5.9M | 1.67M | 86K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1K | 0 | 0 | 67K | 0 | 149K | 52K | 48.16M | 48.62M |
| Total Liabilities | 14.19M | 4.31M | 6.97M | 9.48M | 14.97M | 6.71M | 5.54M | 69.88M | 55.33M |
| Total Debt | 1.04M | 1.51M | 3.85M | 6.21M | 8.03M | 2.35M | 685K | 16.05M | 4.75M |
| Net Debt | -151.29M | -7.16M | -6.15M | -6.8M | -9.76M | -4.8M | -15.91M | 15.8M | 4.09M |
| Debt / Equity | 0.01x | 0.08x | 0.10x | 0.10x | 0.08x | 0.02x | 0.04x | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.82x | - | - | - | - | - | - | - | - |
| Interest Coverage | -9727.89x | -657.91x | -334.08x | -256.69x | -220.86x | -53.92x | -10.90x | -6.42x | -38.87x |
| Total Equity | 191.19M | 18.59M | 38.39M | 64.89M | 103.41M | 146.51M | 15.89M | -68.66M | -53.48M |
| Equity Growth % | 348.74% | -51.57% | -40.85% | -37.24% | -29.42% | 821.87% | 123.15% | -28.39% | - |
| Book Value per Share | 147.63 | 14.75 | 1.53 | 2.32 | 3.37 | 5.29 | 0.52 | -2.34 | -78.05 |
| Total Shareholders' Equity | 191.19M | 18.59M | 38.39M | 64.89M | 103.41M | 146.51M | 15.89M | -68.66M | -53.48M |
| Common Stock | 0 | 0 | 3K | 3K | 3K | 3K | 0 | 2K | 2K |
| Retained Earnings | -453.37M | -283.14M | -262.05M | -231.9M | -197.79M | -149.21M | -112.41M | -92.31M | -75.57M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -24K | 1K | -13K | -209K | -1M | -333K | 0 | -2K | -314K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and dilution
As reported in financial statements, the company's total assets have plummeted from $74.4 million in 2023Q4 to $22.9 million by 2025Q4, signaling a rapid contraction in the firm's resource base as it continues to fund clinical development without any offsetting commercial revenue streams.
The consistent decline in total assets reflects the ongoing consumption of cash to support the SNS-101 program. This trajectory suggests that the company is nearing a critical inflection point where the current asset base may no longer support the existing R&D infrastructure without significant external intervention.
According to recent SEC filings, the company's cash position has dwindled to $8.7 million as of 2025Q4, which represents a significant reduction from the $152.3 million reported in 2026Q1, highlighting an extremely limited buffer against ongoing operational burn and clinical trial obligations.
While the current ratio remains above 5.0, this metric is somewhat misleading given the lack of revenue and the high fixed costs associated with clinical trials. Investors should monitor the company's ability to secure non-dilutive funding, as the current cash runway appears insufficient to sustain operations through the next major clinical data readout.
Based on the company's reported figures, equity has declined from $64.9 million in 2023Q4 to $18.6 million in 2025Q4, a trend driven by persistent net losses and the accumulation of a deficit that now exceeds $283 million as of the most recent quarterly filing.
The erosion of equity underscores the high cost of capital for a pre-revenue biotech firm. This trend suggests that future financing will likely be highly dilutive to existing shareholders, as the company lacks the earnings power to support its valuation through internal capital generation.
As indicated by the company's financial statements, the asset base is almost entirely composed of cash and minimal property, plant, and equipment, which leaves the firm with virtually no tangible collateral to secure traditional debt financing during periods of market volatility.
The absence of significant tangible assets means that the company's valuation is entirely tied to the intangible value of its clinical pipeline. This creates a binary risk profile where any negative clinical data could lead to a rapid impairment of the company's perceived value, leaving little to no recovery for equity holders.
Quick answers to the most common questions about buying SNSE stock.
As of 2025, Sensei Biotherapeutics, Inc. (SNSE) had total assets of $22.9M including $21.5M in current assets.
Sensei Biotherapeutics, Inc. (SNSE) carries total debt of $1.5M, offset by $21.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Sensei Biotherapeutics, Inc. (SNSE) has total shareholders' equity (book value) of $18.6M ($14.75 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Sensei Biotherapeutics, Inc. (SNSE) reported a current ratio of 5.06x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.