NKGen Biotech, Inc. (NKGN) Balance Sheet
NKGN balance sheet, 2025
December 31, 2025 · U.S. dollars$24,000 assets = — liabilities + — equity
Both columns are drawn to the same scale: what NKGN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NKGN financial health
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
NKGN balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $18.1M2021 | $24,0002025 | −89.0%/yr | |
| Total liabilities | $56.1M2021 | $75.2M2023 | +15.7%/yr | |
| Shareholders’ equity | −$38.1M2021 | −$58.7M2023 | — | |
| Cash & short-term investments | $351,0002021 | $26,0002023 | −72.8%/yr | |
| Total debt | $52.0M2021 | $19.9M2023 | −38.1%/yr | |
| Net cash (debt) | −$51.6M2021 | −$19.9M2023 | +$31.7M | |
| Working capital | −$55.1M2021 | −$37.5M2023 | +$17.6M |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NKGN assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
NKGN liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
NKGN debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NKGN balance sheet
| 2025 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | — | $26,000 | $117,000 | $351,000 |
| Cash & equivalents | — | $26,000 | $117,000 | $351,000 |
| Receivables | $24,000 | $26,000 | $96,000 | $67,000 |
| Inventory | $0 | −$250,000 | $133,000 | $172,000 |
| Other current assets | $0 | $2.1M | $4,000 | $22,000 |
| Total current assets | $24,000 | $1.9M | $350,000 | $612,000 |
| Property, plant & equipment (net) | $0 | $14.5M | $15.9M | $17.4M |
| Goodwill & intangible assets | $0 | $92,000 | $97,000 | $89,000 |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 |
| Total assets | $24,000 | $16.5M | $16.3M | $18.1M |
| Liabilities | ||||
| Accounts payable | — | $11.0M | $975,000 | $1.7M |
| Short-term debt | — | $10.0M | $12.0M | $51.6M |
| Deferred revenue | — | — | $1.6M | $2.4M |
| Total current liabilities | — | $39.5M | $14.7M | $55.7M |
| Long-term debt | $0 | $9.9M | $0 | $0 |
| Lease obligations | — | $0 | $379,000 | $818,000 |
| Other long-term liabilities | — | $25.8M | $26,000 | $379,000 |
| Total liabilities | — | $75.2M | $14.8M | $56.1M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | — | $2,000 | $1,000 | $14,000 |
| Retained earnings (deficit) | — | −$162.1M | −$79.2M | −$52.4M |
| Total shareholders' equity | — | −$58.7M | $1.6M | −$38.1M |
| Key figures | ||||
| Total debt | — | $19.9M | $12.0M | $52.0M |
| Net cash (debt) | — | −$19.9M | −$11.9M | −$51.6M |
| Working capital | — | −$37.5M | −$14.4M | −$55.1M |
| Tangible book value | — | −$58.8M | $1.5M | −$38.1M |
| Shares outstanding | 28.8M | — | — | — |
| Current ratio | — | 0.05 | 0.02 | 0.01 |
| Quick ratio | — | 0.00 | 0.01 | 0.01 |
| Debt / equity | — | — | 7.70 | — |
| Equity / assets | — | −356.1% | 9.6% | −210.6% |
| Dec '25 | Sep '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $6,000 | — | $6,000 | $8,000 | $79,000 | $34,000 | $26,000 | $8.8M | $41,459 | $206,803 | $117,000 | $728,009 |
| Cash & equivalents | $6,000 | — | $6,000 | $8,000 | $79,000 | $34,000 | $26,000 | $8.8M | $41,459 | $206,803 | $117,000 | $728,009 |
| Receivables | $23,000 | $24,000 | $0 | $24,000 | $23,000 | $26,000 | $26,000 | $41,000 | $36,000 | $36,000 | $96,000 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $1.1M | $0 | $0 | $1.4M | $0 | $0 | −$96,000 | $0 |
| Other current assets | $2.4M | $0 | $2.4M | $879,000 | $24,000 | $1.5M | $1.9M | $72,000 | $0 | $52,367 | $233,000 | $418,568 |
| Total current assets | $2.4M | $24,000 | $2.4M | $911,000 | $1.2M | $1.6M | $1.9M | $10.3M | $75,638 | $295,170 | $350,000 | $1.1M |
| Property, plant & equipment (net) | $13.4M | $0 | $13.4M | $14.0M | $14.3M | $14.6M | $14.5M | $14.8M | $15.1M | $0 | $15.9M | $0 |
| Goodwill & intangible assets | $96,000 | $0 | $96,000 | $93,000 | $93,000 | $91,000 | $92,000 | $90,000 | $93,000 | $0 | $97,000 | $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 | $48.3M | $175.4M | $0 | $172.7M |
| Total assets | $15.8M | $24,000 | $15.8M | $15.0M | $15.6M | $16.3M | $16.5M | $25.2M | $63.6M | $175.7M | $16.3M | $173.9M |
| Liabilities | ||||||||||||
| Accounts payable | $15.2M | — | $15.2M | $13.5M | $12.7M | $12.8M | $11.0M | $7.9M | $3.5M | $3.5M | $975,000 | — |
| Short-term debt | $26.9M | — | — | $19.9M | $17.4M | $11.7M | $10.0M | $5.3M | $416,710 | — | $12.0M | — |
| Deferred revenue | — | — | — | — | $2.5M | — | — | $5.2M | — | — | −$12.8M | — |
| Total current liabilities | $43.9M | — | $43.9M | $37.1M | $51.4M | $37.5M | $39.5M | $38.8M | $6.3M | $3.5M | $14.7M | $2.8M |
| Long-term debt | $0 | $0 | $11.1M | $10.6M | $10.4M | $10.1M | $9.9M | $14.7M | $10.2M | $0 | $0 | $0 |
| Lease obligations | — | — | $360,000 | $436,000 | $470,000 | $502,000 | $0 | $96,000 | $189,000 | — | $379,000 | — |
| Other long-term liabilities | $22.3M | — | $11.2M | $14.3M | $23.6M | $23.7M | $25.8M | $12.3M | $0 | $2.8M | $26,000 | $2.8M |
| Total liabilities | $66.2M | — | $66.2M | $62.0M | $85.4M | $71.4M | $75.2M | $65.8M | $9.3M | $6.3M | $14.8M | $5.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,000 | — | — | $4,000 | $3,000 | $2,000 | $2,000 | $2,000 | $62.8M | $174.7M | $1,000 | $172.2M |
| Retained earnings (deficit) | −$191.1M | — | −$191.1M | −$177.0M | −$183.6M | −$167.5M | −$162.1M | −$128.5M | −$8.5M | −$5.3M | −$79.2M | −$3.9M |
| Total shareholders' equity | −$50.3M | — | −$50.3M | −$47.0M | −$69.7M | −$55.1M | −$58.7M | −$40.6M | $54.3M | $169.4M | $1.6M | $168.3M |
| Key figures | ||||||||||||
| Total debt | $38.2M | — | $11.1M | $30.7M | $28.1M | $22.2M | $19.9M | $20.0M | $416,710 | — | $12.0M | — |
| Net cash (debt) | −$38.2M | — | −$11.1M | −$30.7M | −$28.0M | −$22.2M | −$19.9M | −$11.2M | −$375,251 | — | −$11.9M | — |
| Working capital | −$41.5M | — | −$41.5M | −$36.2M | −$50.2M | −$35.9M | −$37.5M | −$28.5M | −$6.2M | −$3.2M | −$14.4M | −$1.6M |
| Tangible book value | −$50.4M | — | −$50.4M | −$47.1M | −$69.8M | −$55.1M | −$58.8M | −$40.7M | $54.2M | $169.4M | $1.5M | $168.3M |
| Book value per share | −$1.75 | — | −$0.98 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 28.8M | 28.8M | 51.3M | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.05 | — | 0.05 | 0.02 | 0.02 | 0.04 | 0.05 | 0.27 | 0.01 | 0.08 | 0.02 | 0.41 |
| Quick ratio | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.23 | 0.01 | 0.07 | 0.01 | 0.26 |
| Debt / equity | — | — | — | — | — | — | — | — | 0.01 | — | 7.70 | — |
| Equity / assets | −317.7% | — | −317.7% | −313.8% | −445.5% | −337.4% | −356.1% | −161.3% | 85.3% | 96.4% | 9.6% | 96.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed October 8, 2025); data from EODHD.
NKGN financial position
At the end of fiscal 2025 (December 31, 2025), NKGen Biotech had total assets of $0.0 million (down 99.9% from a year earlier), total liabilities of — and shareholders' equity of —.
Related: NKGN income statement, NKGN cash flow statement, NKGN key metrics. See the NKGN stock overview for the latest quote and news.
NKGN balance sheet FAQ
What are NKGen Biotech's total assets?
NKGen Biotech reported total assets of $0.0 million at the end of fiscal 2025 (December 31, 2025), compared with $16.5 million a year earlier.