ADARx Pharmaceuticals, Inc. (ADRX) Balance Sheet
ADRX balance sheet, 2025
December 31, 2025 · U.S. dollars$507.7M assets = $709.9M liabilities + −$202.3M equity
Liabilities exceed assets: shareholders’ equity is negative (−$202.3M).
Both columns are drawn to the same scale: what ADRX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ADRX financial health
Descriptive bands, not a rating. Fiscal 2025.
ADRX balance sheet trends, 2024–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $233.5M2024 | $507.7M2025 | +117.5%/yr | |
| Total liabilities | $370.6M2024 | $709.9M2025 | +91.6%/yr | |
| Shareholders’ equity | −$137.1M2024 | −$202.3M2025 | — | |
| Cash & short-term investments | $219.5M2024 | $480.0M2025 | +118.7%/yr | |
| Working capital | $216.7M2024 | $462.9M2025 | +$246.2M | |
| Book value per share | −$1.342024 | −$1.982025 | — | |
| Shares outstanding | 102.2M2024 | 102.2M2025 | 0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ADRX assets
ADRX liabilities and equity
ADRX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ADRX balance sheet
| 2025 | 2024 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | $480.0M | $219.5M |
| Cash & equivalents | $66.5M | $14.0M |
| Short-term investments | $413.5M | $205.4M |
| Receivables | $0 | $0 |
| Inventory | $0 | $0 |
| Other current assets | $13.4M | $6.2M |
| Total current assets | $493.4M | $225.7M |
| Property, plant & equipment (net) | $12.1M | $7.1M |
| Goodwill & intangible assets | $0 | $0 |
| Long-term investments | $0 | $0 |
| Other non-current assets | $2.2M | $660,000 |
| Total assets | $507.7M | $233.5M |
| Liabilities | ||
| Accounts payable | $5.8M | $1.3M |
| Total current liabilities | $30.5M | $8.9M |
| Long-term debt | $0 | $0 |
| Lease obligations | $7.7M | $4.3M |
| Other long-term liabilities | $679.4M | $361.7M |
| Total liabilities | $709.9M | $370.6M |
| Shareholders' equity | ||
| Retained earnings (deficit) | −$220.7M | −$147.6M |
| Total shareholders' equity | −$202.3M | −$137.1M |
| Key figures | ||
| Working capital | $462.9M | $216.7M |
| Tangible book value | −$202.3M | −$137.1M |
| Book value per share | −$1.98 | −$1.34 |
| Shares outstanding | 102.2M | 102.2M |
| Current ratio | 16.18 | 25.25 |
| Quick ratio | 15.75 | 24.56 |
| Equity / assets | −39.8% | −58.7% |
| Jun '26 | Mar '26 | Dec '25 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $427.3M | $455.8M | $480.0M |
| Cash & equivalents | $58.5M | $63.9M | $66.5M |
| Short-term investments | $368.8M | $392.0M | $413.5M |
| Receivables | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 |
| Other current assets | $14.3M | $12.9M | $13.4M |
| Total current assets | $441.5M | $468.7M | $493.4M |
| Property, plant & equipment (net) | $11.0M | $11.6M | $12.1M |
| Goodwill & intangible assets | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 |
| Other non-current assets | $3.8M | $2.2M | $2.2M |
| Total assets | $456.3M | $482.6M | $507.7M |
| Liabilities | |||
| Accounts payable | $4.9M | $6.8M | $5.8M |
| Total current liabilities | $34.0M | $29.8M | $30.5M |
| Long-term debt | $0 | $0 | $0 |
| Lease obligations | $6.9M | $7.3M | $7.7M |
| Other long-term liabilities | $673.4M | $678.5M | $679.4M |
| Total liabilities | $707.4M | $708.3M | $709.9M |
| Shareholders' equity | |||
| Retained earnings (deficit) | −$269.1M | −$243.4M | −$220.7M |
| Total shareholders' equity | −$251.1M | −$225.7M | −$202.3M |
| Key figures | |||
| Working capital | $407.5M | $439.0M | $462.9M |
| Tangible book value | −$251.1M | −$225.7M | −$202.3M |
| Book value per share | −$2.46 | −$2.21 | — |
| Shares outstanding | 102.2M | 102.2M | — |
| Current ratio | 12.98 | 15.75 | 16.18 |
| Quick ratio | 12.56 | 15.32 | 15.75 |
| Equity / assets | −55.0% | −46.8% | −39.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed —); data from EODHD.
ADRX financial position
At the end of fiscal 2025 (December 31, 2025), ADARx Pharmaceuticals had total assets of $507.7 million (up 117.5% from a year earlier), total liabilities of $709.9 million and shareholders' equity of -$202.3 million. Its current ratio was 16.18. In the latest quarter (ended June 30, 2026) total assets were $456.3 million and equity -$251.1 million.
Related: ADRX income statement, ADRX cash flow statement, ADRX key metrics. See the ADRX stock overview for the latest quote and news.
ADRX balance sheet FAQ
What are ADARx Pharmaceuticals's total assets?
ADARx Pharmaceuticals reported total assets of $507.7 million at the end of fiscal 2025 (December 31, 2025), compared with $233.5 million a year earlier.
How much cash does ADARx Pharmaceuticals have?
ADARx Pharmaceuticals held $480.0 million in cash and short-term investments at the end of fiscal 2025.
What is ADARx Pharmaceuticals's book value?
ADARx Pharmaceuticals's shareholders' equity (book value) was -$202.3 million at the end of fiscal 2025, or −$1.98 per share.
What is ADARx Pharmaceuticals's current ratio?
ADARx Pharmaceuticals had current assets of $493.4 million and current liabilities of $30.5 million, a current ratio of 16.18 (it can cover its short-term obligations).