Hepion Pharmaceuticals, Inc. (HEPA) Balance Sheet
HEPA balance sheet, 2025
December 31, 2025 · U.S. dollars$3.1M assets = $402,405 liabilities + $2.7M equity
Both columns are drawn to the same scale: what HEPA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HEPA financial health
Descriptive bands, not a rating. Fiscal 2025.
HEPA balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $13.1M2016 | $3.1M2025 | −14.9%/yr | |
| Total liabilities | $11.8M2016 | $402,4052025 | −31.3%/yr | |
| Shareholders’ equity | $1.3M2016 | $2.7M2025 | +8.2%/yr | |
| Cash & short-term investments | $7.4M2016 | $1.8M2025 | −14.4%/yr | |
| Total debt | $10,4102016 | $54,0662025 | +20.1%/yr | |
| Net cash (debt) | $7.4M2016 | $1.8M2025 | −$5.6M | |
| Working capital | $2.8M2016 | $2.8M2025 | −$40,869 | |
| Debt / equity | 0.012016 | 0.022025 | +0.01 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HEPA assets
HEPA liabilities and equity
HEPA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HEPA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.8M | $406,408 | $14.8M | $51.2M | $91.3M | $40.7M | $13.9M | $2.8M | $6.0M | $7.4M |
| Cash & equivalents | $1.8M | $406,408 | $14.8M | $51.2M | $91.3M | $40.7M | $13.9M | $2.8M | $6.0M | $7.4M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.2M | $1.2M | $2.7M | $5.3M | $6.1M | $1.9M | $465,693 | $135,591 | $108,075 | $491,045 |
| Total current assets | $3.1M | $1.6M | $17.5M | $56.5M | $97.5M | $42.6M | $14.4M | $3.0M | $6.1M | $7.9M |
| Property, plant & equipment (net) | $0 | −$1 | $242,365 | $3.3M | $456,461 | $664,932 | $855,079 | $32,434 | $56,595 | $80,848 |
| Goodwill & intangible assets | $0 | $0 | $0 | $3.2M | $5.1M | $5.1M | $5.1M | $5.1M | $5.1M | $5.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $1 | $364,192 | $0 | $582,847 | $285,098 | $306,880 | $127,794 | $73,289 | $69,955 |
| Total assets | $3.1M | $1.6M | $18.1M | $60.2M | $103.6M | $48.6M | $20.6M | $8.2M | $11.3M | $13.1M |
| Liabilities | ||||||||||
| Accounts payable | $167,810 | $220,202 | $2.3M | $2.7M | $2.4M | $3.7M | $491,557 | $748,428 | $1.6M | $4.3M |
| Short-term debt | $54,066 | $2.9M | $115,916 | $53,614 | $266,650 | $279,826 | $266,696 | $1.4M | — | $10,410 |
| Deferred revenue | — | — | $2.4M | $4.8M | $2.5M | — | — | — | — | — |
| Total current liabilities | $299,383 | $3.1M | $5.3M | $7.9M | $8.2M | $4.7M | $1.6M | $2.8M | $2.6M | $5.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $176,585 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $0 | $209,020 | $53,614 | $316,992 | $575,581 | $807,447 | — | — | $0 |
| Other long-term liabilities | $103,022 | $333,189 | $5.5M | $2.5M | $2.4M | $3.3M | $3.4M | $3.4M | $4.9M | $6.7M |
| Total liabilities | $402,405 | $3.5M | $10.8M | $10.4M | $10.6M | $8.1M | $5.0M | $6.2M | $7.5M | $11.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1,162 | $14 | $482 | $381 | $7,623 | $3,203 | $375 | $25 | $7,828 | $3,224 |
| Retained earnings (deficit) | −$246.1M | −$237.8M | −$224.6M | −$175.7M | −$133.5M | −$104.1M | −$83.8M | −$76.5M | −$67.0M | −$44.6M |
| Accumulated other comprehensive income | $8,345 | $8,345 | −$78,779 | −$90,168 | $0 | $0 | — | — | $0 | — |
| Total shareholders' equity | $2.7M | −$1.9M | $7.3M | $49.9M | $93.0M | $40.5M | $15.6M | $2.0M | $3.7M | $1.3M |
| Key figures | ||||||||||
| Total debt | $54,066 | $2.9M | $209,020 | $53,614 | $316,992 | $752,166 | $807,447 | $1.4M | — | $10,410 |
| Net cash (debt) | $1.8M | −$2.5M | $14.6M | $51.1M | $91.0M | $40.0M | $13.1M | $1.4M | — | $7.4M |
| Working capital | $2.8M | −$1.5M | $12.2M | $48.6M | $89.2M | $38.0M | $12.8M | $118,171 | $3.5M | $2.8M |
| Tangible book value | $2.7M | −$1.9M | $7.3M | $46.7M | $87.9M | $35.5M | $10.6M | −$3.1M | −$1.4M | −$3.7M |
| Current ratio | 10.25 | 0.51 | 3.31 | 7.16 | 11.88 | 9.15 | 8.94 | 1.04 | 2.33 | 1.55 |
| Quick ratio | 6.11 | 0.13 | 2.80 | 6.49 | 11.13 | 8.74 | 8.65 | 0.99 | 2.29 | 1.46 |
| Debt / equity | 0.02 | — | 0.03 | 0.00 | 0.00 | 0.02 | 0.05 | 0.73 | — | 0.01 |
| Equity / assets | 86.9% | −115.5% | 40.2% | 82.8% | 89.8% | 83.3% | 75.8% | 24.1% | 32.9% | 10.1% |
| 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 | $1.6M | $2.6M | $1.8M | $2.3M | $2.9M | $4.6M | $406,408 | $1.5M | $2.1M | $13.1M | $14.8M | $19.3M |
| Cash & equivalents | $1.6M | $2.6M | $1.8M | $2.3M | $2.9M | $4.6M | $406,408 | $1.5M | $2.1M | $13.1M | $14.8M | $19.3M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $600,000 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $298,817 | $102,923 | $1.2M | $1.4M | $1.6M | $1.7M | $1.2M | $1.4M | $3.4M | $2.3M | $2.7M | $2.0M |
| Total current assets | $1.9M | $2.7M | $3.1M | $3.7M | $4.5M | $6.3M | $1.6M | $3.5M | $5.5M | $15.4M | $17.5M | $21.3M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | −$1 | −$1 | $118,301 | $150,733 | $182,019 | $242,365 | $3.5M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $66,505 | $377,022 | $377,021 | $364,192 | $0 |
| Total assets | $1.9M | $2.7M | $3.1M | $3.7M | $4.5M | $6.3M | $1.6M | $3.7M | $6.0M | $16.0M | $18.1M | $25.0M |
| Liabilities | ||||||||||||
| Accounts payable | $169,875 | $138,442 | $167,810 | $77,243 | $172,698 | $243,259 | $220,202 | $186,259 | $446,544 | $1.5M | $2.3M | $3.0M |
| Short-term debt | — | — | $54,066 | $214,309 | $371,661 | $526,178 | — | $2.2M | $154,090 | $134,020 | — | $112,282 |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $2.4M | — | $2.9M |
| Total current liabilities | $492,759 | $735,572 | $299,383 | $347,411 | $592,854 | $935,924 | $3.1M | $2.7M | $975,634 | $2.6M | $5.3M | $6.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | — | — | $0 | $117,952 | $154,090 | $175,268 | $209,020 | $241,543 |
| Other long-term liabilities | $156,164 | $113,175 | $103,022 | $68,397 | $115,677 | $1.5M | $333,189 | $1.4M | $1.5M | $5.9M | $5.5M | $2.4M |
| Total liabilities | $648,923 | $848,747 | $402,405 | $415,808 | $708,531 | $2.4M | $3.5M | $4.1M | $2.4M | $8.5M | $10.8M | $8.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2,912 | $1,162 | $1,162 | $1,162 | $1,162 | $959 | — | $663 | $547 | $547 | — | $384 |
| Retained earnings (deficit) | −$248.2M | −$246.9M | −$246.1M | −$245.4M | −$245.0M | −$243.9M | −$237.8M | −$236.3M | −$231.4M | −$227.5M | −$224.6M | −$213.6M |
| Accumulated other comprehensive income | $8,345 | $8,345 | $8,345 | $8,345 | $8,345 | $8,345 | — | −$53,831 | −$53,822 | $9,200 | — | −$93,928 |
| Total shareholders' equity | $1.3M | $1.9M | $2.7M | $3.3M | $3.8M | $3.9M | −$1.9M | −$406,685 | $3.6M | $7.5M | $7.3M | $16.2M |
| Key figures | ||||||||||||
| Total debt | — | — | $54,066 | $214,309 | $371,661 | $526,178 | — | $2.2M | $154,090 | $175,268 | — | $241,543 |
| Net cash (debt) | — | — | $1.8M | $2.1M | $2.6M | $4.1M | — | −$726,599 | $2.0M | $12.9M | — | $19.0M |
| Working capital | $1.4M | $2.0M | $2.8M | $3.4M | $3.9M | $5.4M | −$1.5M | $814,328 | $4.5M | $12.9M | $12.2M | $14.9M |
| Tangible book value | $1.3M | $1.9M | $2.7M | $3.3M | $3.8M | $3.9M | −$1.9M | −$406,685 | $3.6M | $7.5M | $7.3M | $13.0M |
| Current ratio | 3.91 | 3.68 | 10.25 | 10.77 | 7.60 | 6.75 | 0.51 | 1.30 | 5.62 | 5.99 | 3.31 | 3.32 |
| Quick ratio | 3.31 | 3.54 | 6.11 | 6.68 | 4.93 | 4.90 | 0.13 | 0.77 | 2.17 | 5.09 | 2.80 | 3.01 |
| Debt / equity | — | — | 0.02 | 0.06 | 0.10 | 0.14 | — | — | 0.04 | 0.02 | — | 0.01 |
| Equity / assets | 66.3% | 68.6% | 86.9% | 88.9% | 84.3% | 61.7% | −115.5% | −10.9% | 59.3% | 47.0% | 40.2% | 64.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
HEPA financial position
At the end of fiscal 2025 (December 31, 2025), Hepion Pharmaceuticals had total assets of $3.1 million (up 90.2% from a year earlier), total liabilities of $0.4 million and shareholders' equity of $2.7 million. It held $1.8 million in cash and short-term investments against $0.1 million of debt, a net cash position of $1.8 million. Its current ratio was 10.25. In the latest quarter (ended June 30, 2026) total assets were $1.9 million and equity $1.3 million.
Related: HEPA income statement, HEPA cash flow statement, HEPA key metrics. See the HEPA stock overview for the latest quote and news.
HEPA balance sheet FAQ
What are Hepion Pharmaceuticals's total assets?
Hepion Pharmaceuticals reported total assets of $3.1 million at the end of fiscal 2025 (December 31, 2025), compared with $1.6 million a year earlier.
How much debt does Hepion Pharmaceuticals have?
Hepion Pharmaceuticals had $0.1 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.02.
How much cash does Hepion Pharmaceuticals have?
Hepion Pharmaceuticals held $1.8 million in cash and short-term investments at the end of fiscal 2025; with $0.1 million of debt that is net cash of $1.8 million.
What is Hepion Pharmaceuticals's book value?
Hepion Pharmaceuticals's shareholders' equity (book value) was $2.7 million at the end of fiscal 2025.
What is Hepion Pharmaceuticals's current ratio?
Hepion Pharmaceuticals had current assets of $3.1 million and current liabilities of $0.3 million, a current ratio of 10.25 (it can cover its short-term obligations).