The capital structure is increasingly fragile, with total assets contracting to $4.7 million and retained earnings reflecting a substantial deficit of $194.2 million as of 2025Q1.
| Total Current Assets | 4.69M | 6.41M | 14.73M | 55.96M | 111.84M | 63.11M | 791.04K |
| Cash & Short-Term Investments | 4.44M | 4.99M | 12.78M | 52.46M | 111.46M | 61.79M | 684.71K |
| Cash Only | 4.44M | 4.99M | 12.78M | 11.66M | 111.46M | 61.79M | 684.71K |
| Short-Term Investments | 0 | 0 | 0 | 40.8M | 0 | 0 | 0 |
| Accounts Receivable | 0 | 1.04M | 1.04M | 1.37M | 0 | 0 | 0 |
| Days Sales Outstanding | 266.74 | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 126K | 128K | 856K | 2M | 200K | 214K | 106.33K |
| Total Non-Current Assets | 0 | 1.59M | 3.48M | 3.32M | 5.83M | 82K | 1K |
| Property, Plant & Equipment | 0 | 0 | 2.33M | 3.24M | 4.18M | 0 | 0 |
| Fixed Asset Turnover | 1.29x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.33M | 0 | 0 | 0 | 0 | 65.69M | 1K |
| Other Non-Current Assets | 0 | 1.59M | 1.16M | 81K | 1.65M | -65.61M | 0 |
| Total Assets | 4.69M | 8.01M | 18.22M | 59.29M | 117.68M | 63.19M | 1K |
| Asset Turnover | 0.09x | - | - | - | - | - | - |
| Asset Growth % | -195.87% | -56.06% | -69.27% | -49.62% | 86.22% | 6319100% | - |
| Total Current Liabilities | 2.62M | 5.28M | 5.61M | 9.16M | 13.92M | 37.81M | 44K |
| Accounts Payable | 2.27M | 2.03M | 2.5M | 4.07M | 2.02M | 491K | 35K |
| Days Payables Outstanding | 2.64K | - | 996.07 | 1.58K | 2.17K | 1.04K | 73.85 |
| Short-Term Debt | 0 | 0 | 0 | 1.02M | 738K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 4.71M | 0 | 0 |
| Other Current Liabilities | 0 | 8K | 191K | 1.16M | 994K | 27.31M | 9K |
| Current Ratio | 1.79x | 1.21x | 2.63x | 6.11x | 8.04x | 1.67x | 17.98x |
| Quick Ratio | 1.79x | 1.21x | 2.63x | 6.11x | 8.04x | 1.67x | 17.98x |
| Cash Conversion Cycle | -2.37K | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 1.39M | 2.46M | 3.44M | 491K | 3.3M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 1.06M | 0 | 1.34M | 2.41M | 3.44M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 50K | 50K | 0 | 0 | 0 |
| Total Liabilities | 2.62M | 5.28M | 7M | 11.62M | 17.36M | 5.5M | 44K |
| Total Debt | 0 | 0 | 2.5M | 3.44M | 4.17M | 0 | 0 |
| Net Debt | -4.44M | -4.99M | -10.28M | -8.23M | -107.28M | -61.79M | -684.71K |
| Debt / Equity | 0.00x | - | 0.22x | 0.07x | 0.04x | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.17x | - | - | - | - | - | -76.08x |
| Interest Coverage | - | - | - | - | - | -1981.25x | - |
| Total Equity | 2.07M | 2.72M | 11.22M | 47.67M | 100.32M | 57.69M | -44K |
| Equity Growth % | 278.29% | -75.73% | -76.46% | -52.48% | 73.91% | 131206.82% | - |
| Book Value per Share | 0.39 | 0.52 | 1.91 | 8.22 | 21.18 | 40.51 | -0.03 |
| Total Shareholders' Equity | 2.07M | 2.72M | 11.22M | 47.67M | 100.32M | 25.38M | -44K |
| Common Stock | 1K | 8K | 2K | 2K | 2K | 1K | 1K |
| Retained Earnings | -194.19M | -189.19M | -159.11M | -118.95M | -55.97M | -16.66M | -45K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 170K | 119K | 8K | -26K | -21K | 0 | -1K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity depletion risk
As reported in recent financial filings, Vincerx's total assets have plummeted from $59.3 million in 2022Q4 to just $4.7 million in 2025Q1, signaling a severe and accelerating contraction of the company's resource base as it struggles to fund its clinical-stage research and development pipeline.
The consistent decline in total assets over the last ten quarters reflects a business model that is rapidly consuming its capital without achieving commercial milestones. This trajectory suggests that the company is approaching a terminal liquidity event unless it can secure significant external funding or a strategic partnership.
Based on the most recent quarterly data, Vincerx holds only $4.4 million in cash, a figure that appears insufficient to support ongoing clinical operations given the historical quarterly burn rates observed in previous periods, indicating a highly precarious liquidity position that warrants immediate investor scrutiny.
The current ratio of 1.79 provides a misleading sense of security, as the underlying cash balance is rapidly dwindling against fixed clinical trial obligations. Investors should monitor the company's ability to maintain operational continuity, as the current cash buffer offers minimal protection against unexpected regulatory or clinical delays.
According to the company's balance sheet, retained earnings have deteriorated to a deficit of $194.2 million as of 2025Q1, illustrating the profound impact of sustained operating losses on shareholder equity and the ongoing erosion of the company's book value over the past several years.
The persistent accumulation of losses suggests that the company's equity base is being systematically hollowed out, leaving little room for further financial distress. This trend may indicate that future capital raises will likely be highly dilutive, as the company lacks the earnings power to support its current capital structure.
As indicated by the provided financial statements, the complete absence of PPE and goodwill on the balance sheet as of 2025Q1 suggests that Vincerx possesses virtually no tangible asset backing, leaving the company's valuation entirely dependent on the speculative success of its intellectual property and clinical pipeline.
The lack of physical assets underscores the binary nature of the investment, where the balance sheet offers no downside protection in the event of clinical failure. This asset-light structure may be typical for early-stage biotech, but it significantly amplifies the risk profile for investors who rely on traditional book value metrics.
Quick answers to the most common questions about buying VINC stock.
As of 2024, Vincerx Pharma, Inc. (VINC) had total assets of $8.0M including $6.4M in current assets.
Vincerx Pharma, Inc. (VINC) carries total debt of $0.0M, offset by $5.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Vincerx Pharma, Inc. (VINC) has total shareholders' equity (book value) of $2.7M ($0.52 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Vincerx Pharma, Inc. (VINC) reported a current ratio of 1.21x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.