Phio Pharmaceuticals Corp. (PHIO) Balance Sheet
PHIO balance sheet, 2025
December 31, 2025 · U.S. dollars$21.5M assets = $1.3M liabilities + $20.1M equity
Both columns are drawn to the same scale: what PHIO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PHIO financial health
Descriptive bands, not a rating. Fiscal 2025.
PHIO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $13.4M2016 | $21.5M2025 | +5.4%/yr | |
| Total liabilities | $2.5M2016 | $1.3M2025 | −6.9%/yr | |
| Shareholders’ equity | $10.9M2016 | $20.1M2025 | +7.1%/yr | |
| Cash & short-term investments | $12.9M2016 | $21.0M2025 | +5.6%/yr | |
| Total debt | $518,0002019 | $35,0002023 | −49.0%/yr | |
| Net cash (debt) | $6.4M2019 | $8.5M2023 | +$2.0M | |
| Working capital | $10.6M2016 | $21.0M2025 | +$10.5M | |
| Debt / equity | 0.092019 | 0.002023 | −0.09 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PHIO assets
PHIO liabilities and equity
PHIO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PHIO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $21.0M | $5.4M | $8.5M | $11.8M | $24.1M | $14.2M | $6.9M | $14.9M | $3.6M | $12.9M |
| Cash & equivalents | $21.0M | $5.4M | $8.5M | $11.8M | $24.1M | $14.2M | $6.9M | $14.9M | $3.6M | $12.9M |
| Short-term investments | — | — | — | — | — | — | — | — | $50,000 | $0 |
| 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 | $445,000 | $354,000 | $832,000 | $665,000 | $670,000 | $920,000 | $366,000 | $271,000 | $251,000 | $200,000 |
| Total current assets | $21.5M | $5.7M | $9.3M | $12.4M | $24.7M | $15.2M | $7.3M | $15.2M | $3.8M | $13.1M |
| Property, plant & equipment (net) | $11,000 | $2,000 | $39,000 | $344,000 | $416,000 | $557,000 | $721,000 | $172,000 | $248,000 | $114,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $150,000 |
| Other non-current assets | $0 | $0 | $3,000 | $24,000 | $27,000 | $18,000 | $18,000 | $0 | $18,000 | $27,000 |
| Total assets | $21.5M | $5.7M | $9.4M | $12.8M | $25.2M | $15.7M | $8.0M | $15.3M | $4.1M | $13.4M |
| Liabilities | ||||||||||
| Accounts payable | $435,000 | $253,000 | $657,000 | $779,000 | $283,000 | $728,000 | $809,000 | $550,000 | $511,000 | $917,000 |
| Short-term debt | — | — | $35,000 | $135,000 | $125,000 | $116,000 | $107,000 | — | — | — |
| Deferred revenue | — | — | — | — | — | $1.2M | $937,000 | — | — | — |
| Total current liabilities | $435,000 | $1.0M | $1.6M | $1.9M | $3.1M | $2.2M | $1.9M | $1.7M | $2.3M | $2.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $231,000 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $0 | $35,000 | $170,000 | $295,000 | $411,000 | $518,000 | — | — | — |
| Other long-term liabilities | $905,000 | $0 | $0 | $35,000 | $170,000 | $295,000 | $411,000 | $0 | $0 | $0 |
| Total liabilities | $1.3M | $1.0M | $1.6M | $2.0M | $3.2M | $2.7M | $2.3M | $1.7M | $2.3M | $2.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1,000 | — | — | — | $1,000 | $1,000 | $1,000 | $2,000 | $2,000 | $1,000 |
| Retained earnings (deficit) | −$155.1M | −$146.4M | −$139.2M | −$128.4M | −$116.9M | −$103.6M | −$94.8M | −$85.9M | −$78.6M | −$66.1M |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | — | −$1.0M | −$981,000 | −$900,000 | −$831,000 |
| Total shareholders' equity | $20.1M | $4.7M | $7.7M | $10.8M | $21.9M | $13.0M | $5.7M | $13.6M | $1.8M | $10.9M |
| Key figures | ||||||||||
| Total debt | — | — | $35,000 | $170,000 | $295,000 | $642,000 | $518,000 | — | — | — |
| Net cash (debt) | — | — | $8.5M | $11.6M | $23.8M | $13.6M | $6.4M | — | — | — |
| Working capital | $21.0M | $4.7M | $7.7M | $10.5M | $21.7M | $13.0M | $5.4M | $13.4M | $1.6M | $10.6M |
| Tangible book value | $20.1M | $4.7M | $7.7M | $10.8M | $21.9M | $13.0M | $5.7M | $13.6M | $1.8M | $10.9M |
| Book value per share | $3.37 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 6.0M | — | — | — | — | — | — | — | — | — |
| Current ratio | 49.37 | 5.65 | 5.71 | 6.42 | 8.06 | 6.91 | 3.88 | 8.69 | 1.69 | 5.16 |
| Quick ratio | 48.35 | 5.30 | 5.20 | 6.08 | 7.84 | 6.49 | 3.69 | 8.53 | 1.58 | 5.08 |
| Debt / equity | — | — | 0.00 | 0.02 | 0.01 | 0.05 | 0.09 | — | — | — |
| Equity / assets | 93.8% | 82.3% | 82.6% | 84.6% | 87.1% | 82.7% | 71.5% | 88.6% | 44.7% | 81.0% |
| 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 | $13.0M | $17.0M | $21.0M | $10.7M | $10.8M | $13.3M | $5.4M | $5.4M | $4.7M | $6.5M | $8.5M | $8.4M |
| Cash & equivalents | $13.0M | $17.0M | $21.0M | $10.7M | $10.8M | $13.3M | $5.4M | $5.4M | $4.7M | $6.5M | $8.5M | $8.4M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.3M | $371,000 | $445,000 | $788,000 | $519,000 | $158,000 | $354,000 | $474,000 | $594,000 | $373,000 | $832,000 | $921,000 |
| Total current assets | $14.3M | $17.4M | $21.5M | $11.5M | $11.3M | $13.4M | $5.7M | $5.9M | $5.3M | $6.8M | $9.3M | $9.3M |
| Property, plant & equipment (net) | $9,000 | $10,000 | $11,000 | $12,000 | $7,000 | $4,000 | $2,000 | $1,000 | $1,000 | $2,000 | $39,000 | $208,000 |
| 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 | $3,000 | $3,000 | $3,000 | $3,000 |
| Total assets | $14.3M | $17.4M | $21.5M | $11.5M | $11.3M | $13.4M | $5.7M | $5.9M | $5.3M | $6.9M | $9.4M | $9.5M |
| Liabilities | ||||||||||||
| Accounts payable | $901,000 | $260,000 | $435,000 | $516,000 | $235,000 | $427,000 | $253,000 | $184,000 | $335,000 | $320,000 | $657,000 | $173,000 |
| Short-term debt | — | — | — | — | — | — | — | — | — | $35,000 | — | $70,000 |
| Total current liabilities | $901,000 | $260,000 | $435,000 | $516,000 | $1.2M | $1.3M | $1.0M | $919,000 | $1.5M | $1.2M | $1.6M | $2.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $35,000 | $70,000 |
| Other long-term liabilities | $804,000 | $690,000 | $905,000 | $1.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $1.7M | $950,000 | $1.3M | $1.7M | $1.2M | $1.3M | $1.0M | $919,000 | $1.5M | $1.2M | $1.6M | $2.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1,000 | $1,000 | $1,000 | $1,000 | — | — | — | — | — | — | — | — |
| Retained earnings (deficit) | −$163.2M | −$159.1M | −$155.1M | −$152.7M | −$150.3M | −$148.1M | −$146.4M | −$144.7M | −$143.2M | −$141.4M | −$139.2M | −$137.3M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | — | — |
| Total shareholders' equity | $12.6M | $16.5M | $20.1M | $9.8M | $10.1M | $12.2M | $4.7M | $4.9M | $3.8M | $5.6M | $7.7M | $7.2M |
| Key figures | ||||||||||||
| Total debt | — | — | — | — | — | — | — | — | — | $35,000 | — | $70,000 |
| Net cash (debt) | — | — | — | — | — | — | — | — | — | $6.4M | — | $8.3M |
| Working capital | $13.4M | $17.1M | $21.0M | $11.0M | $10.1M | $12.2M | $4.7M | $4.9M | $3.8M | $5.6M | $7.7M | $7.0M |
| Tangible book value | $12.6M | $16.5M | $20.1M | $9.8M | $10.1M | $12.2M | $4.7M | $4.9M | $3.8M | $5.6M | $7.7M | $7.2M |
| Book value per share | $1.08 | $1.42 | $1.73 | $1.80 | $2.11 | $2.83 | — | — | — | — | — | — |
| Shares outstanding | 11.6M | 11.6M | 11.6M | 5.5M | 4.8M | 4.3M | — | — | — | — | — | — |
| Current ratio | 15.87 | 66.93 | 49.37 | 22.27 | 9.36 | 10.58 | 5.65 | 6.38 | 3.47 | 5.48 | 5.71 | 4.01 |
| Quick ratio | 14.42 | 65.50 | 48.35 | 20.75 | 8.93 | 10.46 | 5.30 | 5.87 | 3.08 | 5.18 | 5.20 | 3.61 |
| Debt / equity | — | — | — | — | — | — | — | — | — | 0.01 | — | 0.01 |
| Equity / assets | 88.1% | 94.5% | 93.8% | 85.5% | 89.3% | 90.6% | 82.3% | 84.3% | 71.2% | 81.8% | 82.6% | 75.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 5, 2026); data from EODHD.
PHIO financial position
At the end of fiscal 2025 (December 31, 2025), Phio Pharmaceuticals had total assets of $21.5 million (up 274.5% from a year earlier), total liabilities of $1.3 million and shareholders' equity of $20.1 million. Its current ratio was 49.37. In the latest quarter (ended June 30, 2026) total assets were $14.3 million and equity $12.6 million.
Related: PHIO income statement, PHIO cash flow statement, PHIO key metrics. See the PHIO stock overview for the latest quote and news.
PHIO balance sheet FAQ
What are Phio Pharmaceuticals's total assets?
Phio Pharmaceuticals reported total assets of $21.5 million at the end of fiscal 2025 (December 31, 2025), compared with $5.7 million a year earlier.
How much cash does Phio Pharmaceuticals have?
Phio Pharmaceuticals held $21.0 million in cash and short-term investments at the end of fiscal 2025.
What is Phio Pharmaceuticals's book value?
Phio Pharmaceuticals's shareholders' equity (book value) was $20.1 million at the end of fiscal 2025, or $3.37 per share.
What is Phio Pharmaceuticals's current ratio?
Phio Pharmaceuticals had current assets of $21.5 million and current liabilities of $0.4 million, a current ratio of 49.37 (it can cover its short-term obligations).