The firm's financial position has deteriorated into negative equity of -$913.8K as of 2024Q4, with a current ratio of 0.63 indicating insufficient liquidity to cover short-term obligations.
| Total Current Assets | 1.56M | 9.63M | 19.67M | 39.57M | 73.07K | 46.72K | 61.5K |
| Cash & Short-Term Investments | 1.51M | 9.14M | 19M | 36.84M | 54.8K | 41.54K | 48.37K |
| Cash Only | 1.51M | 9.14M | 19M | 36.84M | 54.8K | 41.54K | 48.37K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 1.39K | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 3.33K | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 37.91K | 283.37K | 496.27K | 2.57M | 535 | 467 | 10.5K |
| Total Non-Current Assets | 0 | 0 | 0 | 0 | 392.34K | 0 | 0 |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 0 | 0 | 0 | 0 | 392.34K | 0 | 0 |
| Total Assets | 1.56M | 9.63M | 19.67M | 39.57M | 465.41K | 46.72K | 61.5K |
| Asset Turnover | - | - | - | - | - | - | - |
| Asset Growth % | -83.84% | -51.06% | -50.28% | 8402.78% | 896.18% | -24.03% | - |
| Total Current Liabilities | 2.47M | 7.69M | 3.09M | 2.09M | 3.66M | 2.78M | 1.25M |
| Accounts Payable | 0 | 18.46K | 37.64K | 19.84K | 22.11K | 3.5K | 6.55K |
| Days Payables Outstanding | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 543.99K | 1.26M | 500K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | -1.05M | -3 | -6.55K |
| Other Current Liabilities | 0 | 6M | 2M | 0 | 1.03M | 819.61K | 7.46K |
| Current Ratio | 0.63x | 1.25x | 6.36x | 18.96x | 0.02x | 0.02x | 0.05x |
| Quick Ratio | 0.63x | 1.25x | 6.36x | 18.96x | 0.02x | 0.02x | 0.05x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 1.09K | 0 | 1.02M | 0 | 500K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 1.02M | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 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 | 2.47M | 7.69M | 3.09M | 2.09M | 4.68M | 2.78M | 1.25M |
| Total Debt | 0 | 0 | 0 | 0 | 1.57M | 1.26M | 500K |
| Net Debt | -1.51M | -9.14M | -19M | -36.84M | 1.51M | 1.22M | 451.63K |
| Debt / Equity | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - |
| Interest Coverage | -115.31x | - | - | -128.88x | -28.34x | -25.53x | -175.34x |
| Total Equity | -913.76K | 1.93M | 16.58M | 37.48M | -4.22M | -2.73M | -1.19M |
| Equity Growth % | -147.24% | -88.33% | -55.77% | 989.09% | -54.31% | -129.08% | - |
| Book Value per Share | -0.21 | 1.65 | 14.16 | 32.00 | -8.53 | -5.24 | -0.24 |
| Total Shareholders' Equity | -913.76K | 1.93M | 16.58M | 37.48M | -4.22M | -2.73M | -1.19M |
| Common Stock | 149 | 12 | 117 | 117 | 31 | 30 | 29 |
| Retained Earnings | -71.61M | -59.54M | -44.35M | -22.7M | -10.65M | -6.31M | -3M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion risk
As reported in financial statements, Virpax's total assets have plummeted from $23.6 million in 2022Q3 to just $1.6 million by 2024Q4, signaling a severe contraction in the company's resource base as it continues to fund preclinical development without any offsetting revenue or commercial milestones.
The consistent decline in total assets over the last ten quarters reflects a business model that is rapidly consuming its initial capital. This trajectory suggests that the firm is approaching a critical juncture where the ability to sustain operations without significant external financing appears increasingly compromised.
According to recent SEC filings, the current ratio has deteriorated significantly from 6.36 in 2022Q4 to a precarious 0.63 in 2024Q4, indicating that the company's liquid assets are now insufficient to cover its short-term liabilities, thereby heightening the risk of operational disruption.
The sharp decline in the current ratio highlights a tightening liquidity environment that leaves little room for error in managing payables. Investors should monitor whether the company can secure additional funding, as the current cash position appears inadequate to support the ongoing R&D burn rate.
Based on reported figures, the company's equity position has shifted into negative territory, reaching -$913.8K in 2024Q4, which underscores the cumulative impact of persistent net losses and the erosion of shareholder value over the past two years of preclinical research and development activities.
The transition to negative equity suggests that the company has exhausted its initial capital and is now operating in a state of technical insolvency. This condition typically necessitates dilutive equity raises, which may further pressure existing shareholders as the firm attempts to bridge its funding gap.
As indicated by historical financial filings, the $2.5 million in total liabilities relative to only $1.5 million in cash suggests that the company's reported liquidity is likely overstated when accounting for outstanding accounts payable and accrued expenses that remain due in the near term.
The presence of liabilities exceeding cash reserves implies that the company may be struggling to manage its working capital effectively. This mismatch warrants further investigation into the company's ability to meet its immediate obligations without resorting to emergency financing or restructuring.
Quick answers to the most common questions about buying VRPX stock.
As of 2024, Virpax Pharmaceuticals, Inc. (VRPX) had total assets of $1.6M including $1.6M in current assets.
Virpax Pharmaceuticals, Inc. (VRPX) carries total debt of $0.0M, offset by $1.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Virpax Pharmaceuticals, Inc. (VRPX) has total shareholders' equity (book value) of $-0.9M ($-0.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Virpax Pharmaceuticals, Inc. (VRPX) reported a current ratio of 0.63x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.