Quoin Pharmaceuticals, Ltd. (QNRX) Balance Sheet
QNRX balance sheet, 2025
December 31, 2025 · U.S. dollars$20.4M assets = $7.3M liabilities + $13.1M equity
Both columns are drawn to the same scale: what QNRX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
QNRX financial health
Descriptive bands, not a rating. Fiscal 2025.
QNRX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $8.8M2016 | $20.4M2025 | +9.8%/yr | |
| Total liabilities | $1.4M2016 | $7.3M2025 | +20.0%/yr | |
| Shareholders’ equity | $7.4M2016 | $13.1M2025 | +6.6%/yr | |
| Cash & short-term investments | $8.0M2016 | $3.82B2025 | +98.3%/yr | |
| Total debt | $15,0702016 | $1.2M2020 | +199.5%/yr | |
| Net cash (debt) | $8.0M2016 | −$889,4812020 | −$8.9M | |
| Working capital | $7.5M2016 | $14.5M2025 | +$6.9M | |
| Current ratio | 9.302016 | 3.612025 | −5.69 | |
| Debt / equity | 0.002016 | 0.072019 | +0.07 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
QNRX assets
QNRX liabilities and equity
QNRX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
QNRX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.82B | $14.1M | $10.7M | $12.9M | $7.5M | $323,832 | $5.2M | $4.8M | $8.0M | $8.0M |
| Cash & equivalents | $3.82B | $3.6M | $2.4M | $2.9M | $7.5M | $323,832 | $5.2M | $4.8M | $4.0M | $1.6M |
| Short-term investments | $14.9M | $10.4M | $8.3M | $10.0M | $0 | — | — | — | $4.0M | $6.4M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $77,301 | $57,804 | $70,572 | $172,007 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $869,126 | $591,034 | $516,584 | $715,474 | $141,338 | $58,483 | $160,567 | $165,053 | $207,605 |
| Total current assets | $20.0M | $14.9M | $11.3M | $13.4M | $8.2M | $465,170 | $5.4M | $5.0M | $8.2M | $8.4M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $1.9M | $672,553 | $413,193 | $387,139 | $356,746 |
| Goodwill & intangible assets | $383.3M | $483,334 | $583,334 | $704,561 | $808,604 | $912,648 | $1.0M | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $300,000 | $300,000 | $383,390 | $350,000 | $0 | $0 | $125,511 | $137,688 | $36,377 |
| Total assets | $20.4M | $15.7M | $12.2M | $14.5M | $9.4M | $1.4M | $6.2M | $5.5M | $8.7M | $8.8M |
| Liabilities | ||||||||||
| Accounts payable | $1.3M | $905,704 | $526,523 | $605,600 | $923,239 | — | $45,744 | $237,372 | $490,549 | $348,951 |
| Short-term debt | — | — | — | — | — | $1.2M | $114,649 | — | — | $15,070 |
| Total current liabilities | $5.5M | $4.2M | $3.6M | $3.5M | $4.6M | $8.0M | $1.1M | $1.3M | $1.2M | $905,507 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.7M | $2.3M | $2.9M | $3.5M | $4.1M | $0 | $824,840 | $485,983 | $2.1M | $503,550 |
| Total liabilities | $7.3M | $6.5M | $6.5M | $7.1M | $8.7M | $8.0M | $1.9M | $1.8M | $3.3M | $1.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | $100 | — | — | — |
| Retained earnings (deficit) | −$71.0M | −$55.2M | −$46.2M | −$37.5M | −$28.1M | −$6.6M | −$29.2M | −$22.5M | −$18.4M | −$9.3M |
| Accumulated other comprehensive income | −$612 | — | — | — | — | — | $4.8M | $3.3M | $2.7M | $1.6M |
| Total shareholders' equity | $13.1M | $9.2M | $5.7M | $7.4M | $657,032 | −$6.6M | $4.3M | $3.7M | $5.4M | $7.4M |
| Key figures | ||||||||||
| Total debt | — | — | — | — | — | $1.2M | $310,654 | — | — | $15,070 |
| Net cash (debt) | — | — | — | — | — | −$889,481 | $4.9M | — | — | $8.0M |
| Working capital | $14.5M | $10.7M | $7.7M | $9.8M | $3.6M | −$7.5M | $4.3M | $3.7M | $7.0M | $7.5M |
| Tangible book value | −$370.2M | $8.7M | $5.1M | $6.7M | −$151,572 | −$7.5M | $3.3M | $3.7M | $5.4M | $7.4M |
| Book value per share | $8.76 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 1.5M | — | — | — | — | — | — | — | — | — |
| Current ratio | 3.61 | 3.57 | 3.15 | 3.79 | 1.79 | 0.06 | 5.11 | 3.80 | 6.97 | 9.30 |
| Quick ratio | 688.33 | 3.36 | 2.99 | 3.64 | 1.64 | 0.04 | 5.06 | 3.68 | 6.83 | 9.07 |
| Debt / equity | — | — | — | — | — | — | 0.07 | — | — | 0.00 |
| Equity / assets | 64.3% | 58.6% | 46.5% | 51.2% | 7.0% | −479.5% | 69.6% | 67.5% | 62.1% | 84.0% |
| 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 | $10.8M | $3.1M | $3.82B | $5.4M | $7.8M | $11.6M | $14.1M | $10.3M | $12.6M | $14.7M | $10.7M | $14.0M |
| Cash & equivalents | $3.8M | $3.1M | $3.82B | $1.8M | $1.7M | $3.8M | $3.6M | $3.1M | $2.8M | $1.8M | $2.4M | $3.2M |
| Short-term investments | $7.0M | $10.9M | $14.9M | $3.6M | $6.1M | $7.7M | $10.4M | $7.2M | $9.7M | $12.9M | $8.3M | $10.8M |
| 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 | $836,140 | $12.2M | $0 | $602,652 | $688,933 | $944,099 | $869,126 | $190,541 | $650,696 | $574,904 | $591,034 | $159,851 |
| Total current assets | $11.6M | $15.3M | $20.0M | $6.0M | $8.5M | $12.5M | $14.9M | $10.5M | $13.2M | $15.3M | $11.3M | $14.1M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $333,331 | $358,334 | $383.3M | $408,334 | $433,334 | $458,334 | $483,334 | $508,334 | $533,334 | $558,334 | $583,334 | $626,529 |
| 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 | $300,000 | $383,390 | $300,000 | $300,000 | $300,000 | $300,000 |
| Total assets | $12.0M | $15.7M | $20.4M | $6.4M | $8.9M | $13.0M | $15.7M | $11.4M | $14.1M | $16.1M | $12.2M | $15.1M |
| Liabilities | ||||||||||||
| Accounts payable | $3.1M | $1.8M | $1.3M | $1.9M | $873,684 | $644,057 | $905,704 | $222,636 | $819,674 | $358,510 | $526,523 | $239,978 |
| Total current liabilities | $6.6M | $5.3M | $5.5M | $5.8M | $4.3M | $4.9M | $4.2M | $3.5M | $4.0M | $4.2M | $3.6M | $4.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.4M | $1.6M | $1.7M | $1.9M | $2.0M | $2.2M | $2.3M | $2.5M | $2.6M | $2.8M | $2.9M | $3.1M |
| Total liabilities | $8.0M | $6.9M | $7.3M | $7.6M | $6.4M | $7.0M | $6.5M | $5.9M | $6.6M | $7.0M | $6.5M | $7.7M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | −$81.3M | −$76.0M | −$71.0M | −$66.6M | −$62.7M | −$59.0M | −$55.2M | −$52.9M | −$50.5M | −$48.5M | −$46.2M | −$44.2M |
| Accumulated other comprehensive income | −$581 | −$159 | −$612 | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $3.9M | $8.8M | $13.1M | −$1.2M | $2.6M | $5.9M | $9.2M | $5.4M | $7.5M | $9.1M | $5.7M | $7.4M |
| Key figures | ||||||||||||
| Working capital | $5.0M | $10.0M | $14.5M | $250,779 | $4.1M | $7.6M | $10.7M | $7.0M | $9.3M | $11.0M | $7.7M | $9.6M |
| Tangible book value | $3.6M | $8.4M | −$370.2M | −$1.6M | $2.1M | $5.5M | $8.7M | $4.9M | $6.9M | $8.6M | $5.1M | $6.8M |
| Book value per share | $1.96 | $4.47 | $8.76 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 2.0M | 2.0M | 1.5M | — | — | — | — | — | — | — | — | — |
| Current ratio | 1.76 | 2.87 | 3.61 | 1.04 | 1.95 | 2.57 | 3.57 | 3.02 | 3.35 | 3.61 | 3.15 | 3.09 |
| Quick ratio | 1.63 | 0.58 | 688.33 | 0.94 | 1.80 | 2.38 | 3.36 | 2.97 | 3.18 | 3.48 | 2.99 | 3.05 |
| Equity / assets | 32.9% | 55.9% | 64.3% | −18.9% | 28.6% | 45.7% | 58.6% | 47.8% | 53.2% | 56.6% | 46.5% | 49.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 26, 2026); data from EODHD.
QNRX financial position
At the end of fiscal 2025 (December 31, 2025), Quoin Pharmaceuticals had total assets of $20.4 million (up 29.8% from a year earlier), total liabilities of $7.3 million and shareholders' equity of $13.1 million. Its current ratio was 3.61. In the latest quarter (ended June 30, 2026) total assets were $12.0 million and equity $3.9 million.
Related: QNRX income statement, QNRX cash flow statement, QNRX key metrics. See the QNRX stock overview for the latest quote and news.
QNRX balance sheet FAQ
What are Quoin Pharmaceuticals's total assets?
Quoin Pharmaceuticals reported total assets of $20.4 million at the end of fiscal 2025 (December 31, 2025), compared with $15.7 million a year earlier.
How much cash does Quoin Pharmaceuticals have?
Quoin Pharmaceuticals held $3.8 billion in cash and short-term investments at the end of fiscal 2025.
What is Quoin Pharmaceuticals's book value?
Quoin Pharmaceuticals's shareholders' equity (book value) was $13.1 million at the end of fiscal 2025, or $8.76 per share.
What is Quoin Pharmaceuticals's current ratio?
Quoin Pharmaceuticals had current assets of $20.0 million and current liabilities of $5.5 million, a current ratio of 3.61 (it can cover its short-term obligations).
How much goodwill does Quoin Pharmaceuticals have?
Quoin Pharmaceuticals carried $383.3 million of goodwill and intangible assets, 1,880.0% of total assets, at the end of fiscal 2025.