LB Pharmaceuticals Inc (LBRX) Balance Sheet
LBRX balance sheet, 2025
December 31, 2025 · U.S. dollars$312.9M assets = $11.6M liabilities + $301.3M equity
Both columns are drawn to the same scale: what LBRX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LBRX financial health
Descriptive bands, not a rating. Fiscal 2025.
LBRX balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $21.5M2022 | $312.9M2025 | +144.2%/yr | |
| Total liabilities | $50.3M2022 | $11.6M2025 | −38.6%/yr | |
| Shareholders’ equity | −$28.8M2022 | $301.3M2025 | — | |
| Cash & short-term investments | $21.4M2022 | $295.2M2025 | +139.8%/yr | |
| Total debt | $24.1M2022 | $3.6M2025 | −47.1%/yr | |
| Net cash (debt) | −$2.7M2022 | $291.6M2025 | +$294.4M | |
| Working capital | $21.0M2022 | $301.0M2025 | +$280.0M |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LBRX assets
LBRX liabilities and equity
LBRX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LBRX balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $295.2M | $28.0M | $43.3M | $21.4M |
| Cash & equivalents | $250.2M | $23.0M | $15.0M | $21.4M |
| Short-term investments | $45.0M | $5.0M | $28.3M | $0 |
| Receivables | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 |
| Other current assets | $13.2M | $880,000 | $2.3M | $85,000 |
| Total current assets | $308.4M | $28.9M | $45.6M | $21.5M |
| Property, plant & equipment (net) | $3.7M | $4.2M | $23,000 | $3,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $770,000 | $498,000 | $0 | $0 |
| Total assets | $312.9M | $33.5M | $45.7M | $21.5M |
| Liabilities | ||||
| Accounts payable | $2.1M | $2.3M | $1.4M | $156,000 |
| Short-term debt | $730,000 | $487,000 | — | — |
| Total current liabilities | $7.4M | $8.1M | $2.6M | $469,000 |
| Long-term debt | $0 | $0 | $0 | $24.1M |
| Lease obligations | $3.6M | $3.7M | $0 | — |
| Other long-term liabilities | $4.2M | $120.0M | $77.5M | $25.7M |
| Total liabilities | $11.6M | $128.1M | $80.1M | $50.3M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $3,000 | $1,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$129.5M | −$104.3M | −$41.2M | −$34.9M |
| Accumulated other comprehensive income | $168,000 | $111,000 | $274,000 | — |
| Total shareholders' equity | $301.3M | −$94.6M | −$34.5M | −$28.8M |
| Key figures | ||||
| Total debt | $3.6M | $3.7M | — | $24.1M |
| Net cash (debt) | $291.6M | $24.3M | — | −$2.7M |
| Working capital | $301.0M | $20.8M | $43.0M | $21.0M |
| Tangible book value | $301.3M | −$94.6M | −$34.5M | −$28.8M |
| Book value per share | $11.91 | — | — | — |
| Shares outstanding | 25.3M | — | — | — |
| Current ratio | 41.44 | 3.56 | 17.51 | 45.82 |
| Quick ratio | 39.67 | 3.45 | 16.61 | 45.64 |
| Debt / equity | 0.01 | — | — | — |
| Equity / assets | 96.3% | −282.0% | −75.5% | −134.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $327.8M | $365.6M | $295.2M | $314.5M | $14.2M | $14.2M | $28.0M | $72.1M |
| Cash & equivalents | $283.1M | $320.7M | $250.2M | $269.7M | $14.2M | $14.2M | $23.0M | $17.6M |
| Short-term investments | $44.7M | $45.0M | $45.0M | $44.7M | $0 | — | $5.0M | $54.5M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $27.5M | $23.4M | $13.2M | $1.9M | $556,000 | $556,000 | $880,000 | $2.1M |
| Total current assets | $355.3M | $389.1M | $308.4M | $316.4M | $14.8M | $14.8M | $28.9M | $74.2M |
| Property, plant & equipment (net) | $5.6M | $3.6M | $3.7M | $3.8M | $4.0M | $4.0M | $4.2M | $67,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $782,000 | $776,000 | $770,000 | $512,000 | $508,000 | $508,000 | $498,000 | $0 |
| Total assets | $361.7M | $393.5M | $312.9M | $320.7M | $19.2M | $19.2M | $33.5M | $74.3M |
| Liabilities | ||||||||
| Accounts payable | $3.5M | $7.1M | $2.1M | $2.6M | $635,000 | $635,000 | $2.3M | $1.3M |
| Short-term debt | $844,000 | $730,000 | $730,000 | $730,000 | $730,000 | $730,000 | — | — |
| Total current liabilities | $23.6M | $10.9M | $7.4M | $6.6M | $3.9M | $3.9M | $8.1M | $8.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $5.2M | $3.5M | $3.6M | $3.7M | $3.8M | — | $3.7M | — |
| Other long-term liabilities | $5.8M | $3.9M | $4.2M | $3.9M | $119.2M | $5.0M | $120.0M | $116.0M |
| Total liabilities | $29.3M | $14.8M | $11.6M | $10.5M | $123.1M | $8.9M | $128.1M | $124.7M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $3,000 | $3,000 | $3,000 | $3,000 | $1,000 | $1,000 | — | $1,000 |
| Retained earnings (deficit) | −$200.2M | −$148.6M | −$129.5M | −$118.1M | −$114.5M | −$114.5M | −$104.3M | −$57.4M |
| Accumulated other comprehensive income | $186,000 | $208,000 | $168,000 | −$53,000 | — | $0 | — | $382,000 |
| Total shareholders' equity | $332.3M | $378.7M | $301.3M | $310.2M | −$103.9M | $10.4M | −$94.6M | −$50.4M |
| Key figures | ||||||||
| Total debt | $5.2M | $3.5M | $3.6M | $3.7M | $3.8M | $3.8M | — | — |
| Net cash (debt) | $322.6M | $362.2M | $291.6M | $310.8M | $10.5M | $10.5M | — | — |
| Working capital | $331.7M | $378.2M | $301.0M | $309.8M | $10.9M | $10.9M | $20.8M | $65.5M |
| Tangible book value | $332.3M | $378.7M | $301.3M | $310.2M | −$103.9M | $10.4M | −$94.6M | −$50.4M |
| Book value per share | $11.03 | $13.41 | $11.91 | $12.26 | — | — | −$4.21 | — |
| Shares outstanding | 30.1M | 28.2M | 25.3M | 25.3M | — | — | 22.4M | — |
| Current ratio | 15.08 | 35.68 | 41.44 | 47.60 | 3.78 | 3.78 | 3.56 | 8.55 |
| Quick ratio | 13.91 | 33.53 | 39.67 | 47.31 | 3.64 | 3.64 | 3.45 | 8.31 |
| Debt / equity | 0.02 | 0.01 | 0.01 | 0.01 | — | 0.36 | — | — |
| Equity / assets | 91.9% | 96.2% | 96.3% | 96.7% | −539.7% | 54.0% | −282.0% | −67.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
LBRX financial position
At the end of fiscal 2025 (December 31, 2025), LB Pharmaceuticals had total assets of $312.9 million (up 833.2% from a year earlier), total liabilities of $11.6 million and shareholders' equity of $301.3 million. It held $295.2 million in cash and short-term investments against $3.6 million of debt, a net cash position of $291.6 million. Its current ratio was 41.44. In the latest quarter (ended June 30, 2026) total assets were $361.7 million and equity $332.3 million.
Related: LBRX income statement, LBRX cash flow statement, LBRX key metrics. See the LBRX stock overview for the latest quote and news.
LBRX balance sheet FAQ
What are LB Pharmaceuticals's total assets?
LB Pharmaceuticals reported total assets of $312.9 million at the end of fiscal 2025 (December 31, 2025), compared with $33.5 million a year earlier.
How much debt does LB Pharmaceuticals have?
LB Pharmaceuticals had $3.6 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does LB Pharmaceuticals have?
LB Pharmaceuticals held $295.2 million in cash and short-term investments at the end of fiscal 2025; with $3.6 million of debt that is net cash of $291.6 million.
What is LB Pharmaceuticals's book value?
LB Pharmaceuticals's shareholders' equity (book value) was $301.3 million at the end of fiscal 2025, or $11.91 per share.
What is LB Pharmaceuticals's current ratio?
LB Pharmaceuticals had current assets of $308.4 million and current liabilities of $7.4 million, a current ratio of 41.44 (it can cover its short-term obligations).