Financial flexibility is preserved by a minimal debt-to-equity ratio of 0.02 as of 2026Q1, though this is offset by an accumulated deficit that has reached $170.9M.
| Total Current Assets | 98.08M | 118.81M | 118.55M | 3.33M | 3.9M | 253.35M | 361.32M | 127.31M | 25.31M |
| Cash & Short-Term Investments | 97.22M | 117.98M | 118.29M | 3.17M | 3.06M | 248.12M | 356.32M | 126.08M | 24.96M |
| Cash Only | 34.43M | 98.05M | 118.29M | 3.17M | 3.06M | 201.66M | 122.66M | 61.08M | 24.96M |
| Short-Term Investments | 62.79M | 19.93M | 0 | 0 | 0 | 46.46M | 233.66M | 64.99M | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 50K | 450K | 560K | 302K |
| Days Sales Outstanding | - | - | - | - | - | - | - | 1.24K | 97.12 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 861K | 78K | 257K | 0 | 0 | 5.18M | 4.54M | 676K | 51K |
| Total Non-Current Assets | 11.73M | 2.93M | 0 | 0 | 0 | 33.25M | 9.5M | 12.11M | 6K |
| Property, Plant & Equipment | 1.43M | 1.48M | 0 | 0 | 0 | 31.29M | 9.5M | 12.11M | 0 |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | 0.01x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 8.65M | 499K | 0 | 0 | 0 | 852K | 0 | 0 | 0 |
| Other Non-Current Assets | 2.14M | 953K | 0 | 0 | 0 | 1.1M | 0 | 0 | 6K |
| Total Assets | 109.81M | 121.74M | 118.55M | 3.33M | 3.9M | 286.59M | 370.82M | 139.42M | 25.32M |
| Asset Turnover | 0.00x | - | - | - | - | - | - | 0.00x | 0.04x |
| Asset Growth % | 3175.85% | 2.69% | 3456.74% | -14.52% | -98.64% | -22.71% | 165.97% | 450.66% | - |
| Total Current Liabilities | 8.08M | 9.71M | 5.24M | 3.94M | 5.69M | 37.85M | 12.29M | 9.11M | 3.74M |
| Accounts Payable | 905K | 1.28M | 247K | 2.36M | 2.76M | 8.36M | 963K | 630K | 153K |
| Days Payables Outstanding | 29.02K | 35.97K | - | - | - | 2.73K | 4.82K | - | - |
| Short-Term Debt | 317K | 316K | 0 | 0 | 0 | 6.59M | 3.23M | 3.07M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.66M |
| Other Current Liabilities | 6.86M | 6.52M | 1.96M | 540K | 296K | 15.03M | 4.79M | 3.89M | 921K |
| Current Ratio | 12.14x | 12.23x | 22.63x | 0.85x | 0.69x | 6.69x | 29.39x | 13.98x | 6.77x |
| Quick Ratio | 12.14x | 12.23x | 22.63x | 0.85x | 0.69x | 6.69x | 29.39x | 13.98x | 6.77x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 33.17M | 33.21M | 0 | 44.41M | 28.48M | 23.48M | 5.46M | 8.69M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 3.25M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 3.39M | 1.13M | 0 | 0 | 0 | 23.48M | 5.46M | 8.69M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 32.08M | 32.08M | 0 | 44.41M | 25.23M | 0 | 0 | 0 | 0 |
| Total Liabilities | 41.25M | 42.92M | 5.24M | 48.35M | 34.17M | 61.33M | 17.76M | 17.8M | 3.74M |
| Total Debt | 1.41M | 1.45M | 0 | 0 | 3.25M | 30.07M | 8.69M | 11.76M | 0 |
| Net Debt | -33.02M | -96.61M | -118.29M | -3.17M | 194K | -171.59M | -113.97M | -49.33M | -24.96M |
| Debt / Equity | 0.02x | 0.02x | - | - | - | 0.13x | 0.02x | 0.10x | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.72x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | -31.98x | - | -20.40x | -64.89x | - | - | - | - |
| Total Equity | 68.56M | 78.81M | 113.31M | -45.02M | -30.27M | 225.27M | 353.06M | 121.62M | 21.58M |
| Equity Growth % | 98.33% | -30.44% | 351.7% | -48.71% | -113.44% | -36.2% | 190.29% | 463.54% | - |
| Book Value per Share | 2.89 | 5.16 | 22.62 | -9.95 | -9.08 | 82.53 | 301.91 | 42.97 | 7.62 |
| Total Shareholders' Equity | 68.56M | 78.81M | 113.31M | -45.02M | -30.27M | 225.27M | 353.06M | 121.62M | 21.58M |
| Common Stock | 2K | 2K | 0 | 0 | 0 | 7K | 7K | 0 | 0 |
| Retained Earnings | -170.85M | -160M | -714.96M | -47.39M | -32.7M | -297.06M | -125.1M | -55.32M | -31.48M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -49K | 6K | -135K | 0 | 0 | -155K | -112K | 68K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial execution failure
As reported in financial statements, KLRS has seen its total assets fluctuate from a peak of $248.3M in 2023Q3 to $109.8M in 2026Q1, reflecting a consistent pattern of capital consumption as the company funds its pre-revenue clinical pipeline through periodic equity-based financing rounds.
The downward trend in total assets suggests that the company is effectively trading its cash reserves for the advancement of its clinical-stage assets. Investors should monitor whether the current asset base can sustain the company through the next major data readout without necessitating further dilutive capital raises.
Based on the provided figures, the company's cash position dropped from $98.1M in 2025Q4 to $34.4M in 2026Q1, indicating a rapid acceleration in cash burn that warrants close scrutiny regarding the firm's ability to maintain operations through the remainder of the fiscal year.
While the current ratio of 12.14 appears robust on the surface, it is largely a function of the company's pre-revenue status and lack of significant short-term liabilities. The rapid depletion of cash reserves suggests that liquidity is highly sensitive to the timing of clinical trial expenditures and potential supply chain costs.
According to recent SEC filings, the company's equity base has been significantly eroded by accumulated losses, which reached $170.9M as of 2026Q1, highlighting the structural challenge of maintaining shareholder value in a pre-revenue biotechnology entity reliant on external funding.
The negative trend in retained earnings underscores the high-risk nature of the business model, where value is entirely dependent on future clinical success rather than current operational profitability. The equity structure appears vulnerable to further dilution should the company need to replenish its cash reserves to continue its research programs.
As indicated by the historical data, KLRS maintains a conservative capital structure with a debt-to-equity ratio of only 0.02 as of 2026Q1, suggesting that management has successfully avoided the risks associated with high interest-bearing obligations during this critical development phase.
The negligible debt load implies that the company is not currently constrained by debt service requirements, which provides a degree of flexibility in managing its limited cash resources. However, this lack of leverage also means the company is almost entirely dependent on equity markets for its ongoing capital needs.
Quick answers to the most common questions about buying KLRS stock.
As of 2025, Kalaris Therapeutics Inc (KLRS) had total assets of $121.7M including $118.8M in current assets.
Kalaris Therapeutics Inc (KLRS) carries total debt of $1.4M, offset by $118.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kalaris Therapeutics Inc (KLRS) has total shareholders' equity (book value) of $78.8M ($5.16 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Kalaris Therapeutics Inc (KLRS) reported a current ratio of 12.23x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.