Conduit Pharmaceuticals Inc. (CDT) Balance Sheet
CDT balance sheet, 2025
December 31, 2025 · U.S. dollars$3.54B assets = $2.28B liabilities + $1.26B equity
Both columns are drawn to the same scale: what CDT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CDT financial health
Descriptive bands, not a rating. Fiscal 2025.
CDT balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $213,1252021 | $3.54B2025 | +1,035.5%/yr | |
| Total liabilities | $192,5062021 | $2.28B2025 | +943.1%/yr | |
| Shareholders’ equity | $20,6192021 | $1.26B2025 | +1,473.6%/yr | |
| Cash & short-term investments | $48,5552021 | $389.9M2025 | +846.6%/yr | |
| Total debt | $177,0572021 | $1.29B2025 | +823.1%/yr | |
| Net cash (debt) | −$128,5022021 | −$895.8M2025 | −$895.7M | |
| Working capital | −$88,3432021 | $651.9M2025 | +$652.0M | |
| Current ratio | 0.542021 | 1.932025 | +1.39 | |
| Debt / equity | 8.592021 | 1.022025 | −7.57 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CDT assets
CDT liabilities and equity
CDT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CDT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $389.9M | $554,000 | $4.2M | $345,777 | $48,555 |
| Cash & equivalents | $389.9M | $554,000 | $4.2M | $345,777 | $48,555 |
| Short-term investments | — | $369.7M | — | — | — |
| Receivables | $462.8M | $489,000 | $0 | $0 | $0 |
| Inventory | $402.3M | $343.1M | $0 | $0 | $0 |
| Other current assets | $94.3M | $0 | $1.5M | $300,862 | $55,608 |
| Total current assets | $1.35B | $2.7M | $5.7M | $646,639 | $104,163 |
| Property, plant & equipment (net) | $566.0M | $303,000 | $0 | $0 | $0 |
| Goodwill & intangible assets | $1.44B | $1.44B | $0 | $5,000 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $191.6M | $0 | $1.5M | $0 | $108,962 |
| Total assets | $3.54B | $4.2M | $7.2M | $5,000 | $213,125 |
| Liabilities | |||||
| Accounts payable | $361.4M | $1.4M | $215,000 | $0 | — |
| Short-term debt | — | $7.3M | $985,000 | $175,000 | $177,057 |
| Total current liabilities | $697.5M | $10.7M | $1.8M | $4.2M | $192,506 |
| Long-term debt | $0 | $0 | $0 | $2.0M | $749,000 |
| Lease obligations | $115,000 | $226,000 | $0 | — | — |
| Other long-term liabilities | $1.58B | $245,000 | $5.9M | $3.9M | $3.0M |
| Total liabilities | $2.28B | $11.0M | $7.7M | $10.1M | $192,506 |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $503,000 | $14,000 | $7,000 | $6,000 | $331 |
| Retained earnings (deficit) | $1.41B | −$29.1M | −$11.3M | −$10.8M | −$4,381 |
| Accumulated other comprehensive income | −$97.2M | $414,000 | $411,000 | $675,000 | −$65,000 |
| Total shareholders' equity | $1.26B | −$6.8M | −$457,000 | −$10.1M | $20,619 |
| Key figures | |||||
| Total debt | $1.29B | $7.5M | $985,000 | $2.0M | $177,057 |
| Net cash (debt) | −$895.8M | −$6.9M | $3.2M | −$1.7M | −$128,502 |
| Working capital | $651.9M | −$8.0M | $3.9M | −$3.5M | −$88,343 |
| Tangible book value | −$172.2M | −$1.44B | −$457,000 | −$10.1M | $20,619 |
| Current ratio | 1.93 | 0.25 | 3.18 | 0.15 | 0.54 |
| Quick ratio | 1.22 | 0.10 | 2.35 | 0.08 | 0.25 |
| Debt / equity | 1.02 | — | — | — | 8.59 |
| Equity / assets | 35.7% | −162.0% | −6.3% | −201,780.0% | 9.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $348.7M | $272.2M | $389.9M | $4.8M | $3.3M | $2.1M | $370.3M | $152,000 | $433,000 | $1.8M | $4.2M | $8.6M |
| Cash & equivalents | $348.7M | $272.2M | $389.9M | $3.8M | $3.3M | $2.1M | $554,000 | $71,000 | $219,000 | $1.8M | $4.2M | $8.6M |
| Short-term investments | — | — | — | $990,000 | — | — | $369.7M | $81,000 | $214,000 | — | — | — |
| Receivables | $534.2M | $499.1M | $462.8M | $398,000 | $245,000 | $488,000 | $489,000 | $734,000 | $188,000 | $356.4M | $0 | $0 |
| Inventory | $420.6M | $423.1M | $402.3M | $393.9M | $388.8M | $373.0M | $343.1M | $368.4M | $375.0M | $374.4M | $0 | $0 |
| Other current assets | $90.4M | $85.5M | $94.3M | $0 | $0 | $0 | $482.3M | $0 | $0 | $0 | $1.5M | $1.8M |
| Total current assets | $1.39B | $1.28B | $1.35B | $7.1M | $6.4M | $5.9M | $1.20B | $1.4M | $1.6M | $3.2M | $5.7M | $10.4M |
| Property, plant & equipment (net) | $686.3M | $569.4M | $566.0M | $519,000 | $585,000 | $621.8M | $614.2M | $340,000 | $369,000 | $346,000 | $0 | $0 |
| Goodwill & intangible assets | $1.41B | $1.43B | $1.44B | $1.44B | $1.45B | $1.44B | $1.44B | $1.46B | $1.45B | $1.16B | $0 | $5,000 |
| Long-term investments | $122.8M | $122.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $60.7M | $191.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.5M | $1.6M |
| Total assets | $3.50B | $3.46B | $3.54B | $8.6M | $8.0M | $7.3M | $4.2M | $3.0M | $3.3M | $4.9M | $7.2M | $12.0M |
| Liabilities | ||||||||||||
| Accounts payable | $359.2M | $326.9M | $361.4M | $613,000 | $1.3M | $307.1M | $1.4M | $1.9M | $1.1M | $117,000 | $215,000 | $35,000 |
| Short-term debt | — | — | — | $1.9M | $2.0M | $2.8M | $7.3M | $2.6M | $1.1M | $1.1M | $985,000 | $981,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | −$144,000 | — | — | $2.8M |
| Total current liabilities | $652.8M | $613.6M | $697.5M | $4.3M | $4.4M | $4.5M | $10.7M | $12.0M | $8.6M | $2.0M | $1.8M | $4.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $45,000 | $79,000 | $115,000 | $144,000 | $184,000 | $204,000 | $226,000 | $257,000 | $285,000 | $312,000 | $0 | — |
| Other long-term liabilities | $1.47B | $1.56B | $1.58B | $9,000 | $47,000 | $86,000 | $245,000 | $134,000 | $173,000 | $6.0M | $5.9M | $8.5M |
| Total liabilities | $2.12B | $2.18B | $2.28B | $4.3M | $4.5M | $4.6M | $11.0M | $12.1M | $8.8M | $8.0M | $7.7M | $13.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $503,000 | $503,000 | $503,000 | $503,000 | $503,000 | $19,000 | $14,000 | $10,000 | $7,000 | $7,000 | $7,000 | $7,000 |
| Retained earnings (deficit) | $1.52B | $1.45B | $1.41B | −$47.0M | −$39.9M | −$34.2M | −$29.1M | −$26.7M | −$20.2M | −$14.9M | −$11.3M | −$13.1M |
| Accumulated other comprehensive income | −$71.2M | −$95.7M | −$97.2M | $217,000 | $269,000 | $346,000 | $414,000 | $271,000 | $387,000 | $388,000 | $411,000 | $639,000 |
| Total shareholders' equity | $1.38B | $1.28B | $1.26B | $4.3M | $3.5M | $2.7M | −$6.8M | −$9.1M | −$5.5M | −$3.1M | −$457,000 | −$1.1M |
| Key figures | ||||||||||||
| Total debt | $1.32B | $1.35B | $1.29B | $1.9M | $2.1M | $2.9M | $7.5M | $2.7M | $1.3M | $1.3M | $985,000 | $981,000 |
| Net cash (debt) | −$970.6M | −$1.08B | −$895.8M | $3.0M | $1.3M | −$737,000 | $362.8M | −$2.5M | −$835,000 | $549,000 | $3.2M | $7.7M |
| Working capital | $741.1M | $666.3M | $651.9M | $2.8M | $2.0M | $1.4M | $1.19B | −$10.6M | −$7.0M | $1.2M | $3.9M | $5.8M |
| Tangible book value | −$26.4M | −$143.5M | −$172.2M | −$1.44B | −$1.45B | −$1.43B | −$1.44B | −$1.47B | −$1.46B | −$1.16B | −$457,000 | −$1.1M |
| Book value per share | $2,597.67 | — | $1,372.29 | $7.91 | — | — | — | — | — | — | — | — |
| Shares outstanding | 533K | — | 921K | 541K | — | — | — | — | — | — | — | — |
| Current ratio | 2.14 | 2.09 | 1.93 | 1.66 | 1.45 | 1.31 | 111.37 | 0.12 | 0.19 | 1.59 | 3.18 | 2.27 |
| Quick ratio | 1.35 | 1.26 | 1.22 | 1.23 | 0.81 | 0.58 | 34.52 | 0.07 | 0.07 | 180.57 | 2.35 | 1.88 |
| Debt / equity | 0.95 | 1.05 | 1.02 | 0.44 | 0.59 | 1.07 | — | — | — | — | — | — |
| Equity / assets | 39.5% | 37.1% | 35.7% | 50.0% | 44.2% | 36.7% | −162.0% | −304.6% | −165.3% | −63.0% | −6.3% | −9.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 17, 2026); data from EODHD.
CDT financial position
At the end of fiscal 2025 (December 31, 2025), Conduit Pharmaceuticals had total assets of $3.5 billion (up 84,412.8% from a year earlier), total liabilities of $2.3 billion and shareholders' equity of $1.3 billion. It held $389.9 million in cash and short-term investments against $1.3 billion of debt, net debt of $895.8 million. Its current ratio was 1.93. In the latest quarter (ended June 30, 2026) total assets were $3.5 billion and equity $1.4 billion.
Related: CDT income statement, CDT cash flow statement, CDT key metrics. See the CDT stock overview for the latest quote and news.
CDT balance sheet FAQ
What are Conduit Pharmaceuticals's total assets?
Conduit Pharmaceuticals reported total assets of $3.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.2 million a year earlier.
How much debt does Conduit Pharmaceuticals have?
Conduit Pharmaceuticals had $1.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.02.
How much cash does Conduit Pharmaceuticals have?
Conduit Pharmaceuticals held $389.9 million in cash and short-term investments at the end of fiscal 2025; with $1.3 billion of debt that is net debt of $895.8 million.
What is Conduit Pharmaceuticals's book value?
Conduit Pharmaceuticals's shareholders' equity (book value) was $1.3 billion at the end of fiscal 2025.
What is Conduit Pharmaceuticals's current ratio?
Conduit Pharmaceuticals had current assets of $1.3 billion and current liabilities of $697.5 million, a current ratio of 1.93 (it can cover its short-term obligations).
How much goodwill does Conduit Pharmaceuticals have?
Conduit Pharmaceuticals carried $1.4 billion of goodwill and intangible assets, 40.5% of total assets, at the end of fiscal 2025.