Lipella Pharmaceuticals Inc. (LIPO) Balance Sheet
LIPO balance sheet, 2024
December 31, 2024 · U.S. dollars$2.7M assets = $754,417 liabilities + $1.9M equity
Both columns are drawn to the same scale: what LIPO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LIPO financial health
Descriptive bands, not a rating. Fiscal 2024.
LIPO balance sheet trends, 2019–2024
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $118,9172019 | $2.7M2024 | +86.4%/yr | |
| Total liabilities | $237,2592019 | $754,4172024 | +26.0%/yr | |
| Shareholders’ equity | −$118,3422019 | $1.9M2024 | — | |
| Cash & short-term investments | $26,0052019 | $2.2M2024 | +142.6%/yr | |
| Total debt | $100,0002019 | $47,6052024 | −13.8%/yr | |
| Net cash (debt) | −$73,9952019 | $2.1M2024 | +$2.2M | |
| Working capital | −$46,7552019 | $1.9M2024 | +$1.9M | |
| Current ratio | 0.722019 | 3.472024 | +2.75 | |
| Debt / equity | 0.842020 | 0.022024 | −0.81 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LIPO assets
LIPO liabilities and equity
LIPO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LIPO balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $2.2M | $3.3M | $5.1M | $1.7M | $606,736 | $26,005 |
| Cash & equivalents | $2.2M | $3.3M | $5.1M | $1.4M | $606,736 | $26,005 |
| Short-term investments | $2.18B | — | $0 | $300,546 | $0 | — |
| Receivables | $84,713 | $32,286 | $113,655 | $0 | $69,035 | $83,891 |
| Inventory | $0 | $0 | −$113,655 | $0 | $0 | $0 |
| Other current assets | $347,676 | $103,256 | $677,546 | $93,715 | $23,655 | $9,021 |
| Total current assets | $2.6M | $3.4M | $5.8M | $1.8M | $699,426 | $118,917 |
| Property, plant & equipment (net) | $56,618 | $147,894 | $150,821 | $204,800 | $255,594 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $2.7M | $3.6M | $6.0M | $2.0M | $955,020 | $118,917 |
| Liabilities | ||||||
| Accounts payable | $388,191 | $138,016 | $384,357 | $46,900 | $24,540 | $49,341 |
| Short-term debt | $47,605 | $89,223 | $333,262 | $64,598 | $130,951 | $50,000 |
| Deferred revenue | — | — | — | $178,966 | $24,986 | — |
| Total current liabilities | $754,417 | $385,355 | $1.2M | $340,625 | $207,768 | $165,672 |
| Long-term debt | $0 | $0 | $0 | $50,000 | $50,000 | $0 |
| Lease obligations | $47,605 | $136,594 | $154,520 | $207,961 | $256,872 | — |
| Other long-term liabilities | $0 | $47,371 | $96,258 | $198,712 | $233,935 | $71,586 |
| Total liabilities | $754,417 | $432,726 | $1.3M | $589,337 | $491,703 | $237,259 |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $121 | $75 | $574 | $387 | $574 | $520 |
| Retained earnings (deficit) | −$15.3M | −$10.3M | −$5.7M | −$3.1M | −$1.2M | −$1.2M |
| Accumulated other comprehensive income | — | — | — | $0 | −$1.2M | −$1.2M |
| Total shareholders' equity | $1.9M | $3.1M | $4.7M | $1.4M | $463,317 | −$118,342 |
| Key figures | ||||||
| Total debt | $47,605 | $136,594 | $429,520 | $282,961 | $388,912 | $100,000 |
| Net cash (debt) | $2.1M | $3.2M | $4.7M | $1.4M | $217,824 | −$73,995 |
| Working capital | $1.9M | $3.0M | $4.6M | $1.5M | $491,658 | −$46,755 |
| Tangible book value | $1.9M | $3.1M | $4.7M | $1.4M | $463,317 | −$118,342 |
| Book value per share | $1.83 | — | — | — | — | — |
| Shares outstanding | 1.0M | — | — | — | — | — |
| Current ratio | 3.47 | 8.90 | 4.92 | 5.31 | 3.37 | 0.72 |
| Quick ratio | 3.01 | 8.63 | 4.44 | 5.03 | 3.25 | 0.66 |
| Debt / equity | 0.02 | 0.04 | 0.09 | 0.20 | 0.84 | — |
| Equity / assets | 71.8% | 87.9% | 78.6% | 70.7% | 48.5% | −99.5% |
| Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.9M | $2.8M | $4.2M | $2.2M | $1.4M | $1.2M | $2.1M | $3.3M | $2.4M | $3.1M | $4.0M | $5.1M |
| Cash & equivalents | $1.9M | $2.8M | $4.2M | $2.2M | $1.4M | $1.2M | $2.1M | $3.3M | $2.4M | $3.1M | $4.0M | $5.1M |
| Short-term investments | — | — | — | — | $1.35B | — | — | — | — | — | — | $0 |
| Receivables | $0 | $41,982 | $85,630 | $84,713 | $31,079 | $35,332 | $68,934 | $32,286 | $53,140 | $28,044 | $83,967 | $113,655 |
| Inventory | $0 | $0 | $0 | $0 | −$31,079 | $0 | $0 | $0 | −$261.0M | −$253.1M | −$458.9M | −$113,655 |
| Other current assets | $223,517 | $613,436 | $512,695 | $347,676 | $726,231 | $858,989 | $836,857 | $103,256 | $261.2M | $253.3M | $459.3M | $677,546 |
| Total current assets | $2.1M | $3.4M | $4.8M | $2.6M | $2.1M | $2.1M | $3.0M | $3.4M | $2.7M | $3.4M | $4.5M | $5.8M |
| Property, plant & equipment (net) | $270,522 | $282,960 | $32,714 | $56,618 | $80,141 | $103,285 | $126,067 | $147,894 | $169,878 | $122,546 | $136,794 | $150,821 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $2.3M | $3.7M | $4.9M | $2.7M | $2.2M | $2.2M | $3.1M | $3.6M | $2.8M | $3.5M | $4.6M | $6.0M |
| Liabilities | ||||||||||||
| Accounts payable | $462,892 | $608,110 | $392,115 | $388,191 | $459,453 | $178,361 | $293,835 | $138,016 | $303,052 | $22,057 | $148,920 | $384,357 |
| Short-term debt | $44,267 | $42,903 | $23,997 | $47,605 | $70,830 | $93,679 | $91,705 | $89,223 | $87,272 | $60,788 | $309,515 | $333,262 |
| Deferred revenue | — | — | — | — | — | — | — | — | −$158.2M | −$215.7M | — | — |
| Total current liabilities | $642,399 | $746,898 | $776,846 | $754,417 | $701,186 | $480,313 | $551,881 | $385,355 | $548,730 | $298,804 | $717,446 | $1.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $264,083 | $274,539 | $23,997 | $47,605 | $70,830 | $93,679 | $115,702 | $136,594 | $157,756 | $126,178 | $140,459 | $154,520 |
| Other long-term liabilities | $219,816 | $231,636 | $1 | $0 | $1 | $1 | $23,997 | $47,371 | $70,484 | $65,390 | $80,944 | $96,258 |
| Total liabilities | $862,215 | $978,534 | $776,847 | $754,417 | $701,187 | $480,314 | $575,878 | $432,726 | $619,214 | $364,194 | $798,390 | $1.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $462 | $446 | $254 | $121 | $109 | $761 | $704 | $605 | $580 | $574 | $574 | $574 |
| Retained earnings (deficit) | −$19.2M | −$18.0M | −$16.6M | −$15.3M | −$13.9M | −$12.5M | −$11.5M | −$10.3M | −$9.6M | −$8.3M | −$6.8M | −$5.7M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | — | $0 | — |
| Total shareholders' equity | $1.5M | $2.7M | $4.1M | $1.9M | $1.5M | $1.7M | $2.6M | $3.1M | $2.2M | $3.1M | $3.8M | $4.7M |
| Key figures | ||||||||||||
| Total debt | $264,083 | $274,539 | $23,997 | $47,605 | $70,830 | $93,679 | $115,702 | $136,594 | $157,756 | $126,178 | $390,459 | $429,520 |
| Net cash (debt) | $1.6M | $2.5M | $4.2M | $2.1M | $1.3M | $1.1M | $2.0M | $3.2M | $2.3M | $3.0M | $3.6M | $4.7M |
| Working capital | $1.4M | $2.7M | $4.0M | $1.9M | $1.4M | $1.6M | $2.5M | $3.0M | $2.1M | $3.1M | $3.8M | $4.6M |
| Tangible book value | $1.5M | $2.7M | $4.1M | $1.9M | $1.5M | $1.7M | $2.6M | $3.1M | $2.2M | $3.1M | $3.8M | $4.7M |
| Book value per share | $0.33 | $0.64 | $3.89 | $1.83 | $1.30 | $1.79 | — | — | — | — | — | — |
| Shares outstanding | 4.5M | 4.3M | 1.0M | 1.0M | 1.1M | 951K | — | — | — | — | — | — |
| Current ratio | 3.24 | 4.60 | 6.21 | 3.47 | 2.97 | 4.33 | 5.46 | 8.90 | 4.87 | 11.27 | 6.24 | 4.92 |
| Quick ratio | 2.89 | 3.78 | 5.55 | 3.01 | 1.97 | 2.54 | 3.94 | 8.63 | 4.49 | 10.51 | 5.72 | 4.44 |
| Debt / equity | 0.18 | 0.10 | 0.01 | 0.02 | 0.05 | 0.05 | 0.05 | 0.04 | 0.07 | 0.04 | 0.10 | 0.09 |
| Equity / assets | 63.3% | 73.7% | 84.0% | 71.8% | 67.5% | 78.0% | 81.6% | 87.9% | 78.2% | 89.6% | 82.7% | 78.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 28, 2025); data from EODHD.
LIPO financial position
At the end of fiscal 2024 (December 31, 2024), Lipella Pharmaceuticals had total assets of $2.7 million (down 25.3% from a year earlier), total liabilities of $0.8 million and shareholders' equity of $1.9 million. It held $2.2 million in cash and short-term investments against $0.0 million of debt, a net cash position of $2.1 million. Its current ratio was 3.47. In the latest quarter (ended September 30, 2025) total assets were $2.3 million and equity $1.5 million.
Related: LIPO income statement, LIPO cash flow statement, LIPO key metrics. See the LIPO stock overview for the latest quote and news.
LIPO balance sheet FAQ
What are Lipella Pharmaceuticals's total assets?
Lipella Pharmaceuticals reported total assets of $2.7 million at the end of fiscal 2024 (December 31, 2024), compared with $3.6 million a year earlier.
How much debt does Lipella Pharmaceuticals have?
Lipella Pharmaceuticals had $0.0 million of total debt at the end of fiscal 2024, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.02.
How much cash does Lipella Pharmaceuticals have?
Lipella Pharmaceuticals held $2.2 million in cash and short-term investments at the end of fiscal 2024; with $0.0 million of debt that is net cash of $2.1 million.
What is Lipella Pharmaceuticals's book value?
Lipella Pharmaceuticals's shareholders' equity (book value) was $1.9 million at the end of fiscal 2024, or $1.83 per share.
What is Lipella Pharmaceuticals's current ratio?
Lipella Pharmaceuticals had current assets of $2.6 million and current liabilities of $0.8 million, a current ratio of 3.47 (it can cover its short-term obligations).