The company remains in a pre-revenue phase with operating losses reaching $5.2M in 2026Q1, driven by a surge in R&D spending from negligible levels to $3.1M per quarter.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 1K | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | 0 | -1K | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - | - |
| Operating Expenses | 21.55M | 21.93M | 65.11M | 16.28K | 27.65K | 26.61K | 20.5K |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 10.5M | 10.9M | 13.86M | 11.36K | 9.68K | 9.6K | 9.33K |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 11.05M | 11.03M | 14.25M | 3.99K | 17.97K | 17.01K | 11.17K |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | -1K | 37M | 928 | 0 | 0 | 0 |
| Operating Income | -21.55M | -21.93M | -65.11M | -16.28K | -27.65K | -26.61K | -20.5K |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 66.32% | -399949.15% | 41.13% | -3.92% | -29.81% | - |
| EBITDA | -21.46M | -21.93M | -65.05M | -16.16K | -27.48K | -26.48K | -20.33K |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | 60.25% | 66.29% | -402505.68% | 41.2% | -3.75% | -30.25% | - |
| D&A (Non-Cash Add-back) | 1K | 1K | 63K | 119 | 169 | 121 | 163 |
| EBIT | -21.46M | -21.93M | -28.11M | -15.35K | -27.65K | -26.61K | -20.5K |
| Net Interest Income | 0 | 0 | 400K | 600 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 400K | 600 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -29.37M | -28.65M | 800K | 544 | 318 | 441 | -661 |
| Pretax Income | -50.92M | -50.58M | -64.31M | -15.73K | -27.33K | -26.16K | -21.16K |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | -712K | -712K | -1.54M | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 1.4% | 1.41% | 2.4% | 0% | 0% | 0% | 0% |
| Net Income | -50.21M | -49.87M | -62.88M | -15.73K | -27.33K | -26.16K | -21.16K |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | 4.07% | 20.69% | -399613.96% | 42.43% | -4.45% | -23.67% | - |
| Net Income (Continuing) | -50.21M | -49.87M | -62.77M | -15.73K | -27.33K | -26.16K | -21.16K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.65 | -1.96 | -3.51 | -3.42 | -6.02 | -5.89 | -0.00 |
| EPS Growth % | 33.33% | 44.16% | -2.63% | 43.19% | -2.21% | - | - |
| EPS (Basic) | - | -1.96 | -3.51 | -3.42 | -6.02 | -5.89 | -0.00 |
| Diluted Shares Outstanding | 30.35M | 25.44M | 17.94M | 4.6M | 4.54M | 4.44M | 17.43M |
| Basic Shares Outstanding | 30.35M | 25.44M | 17.94M | 4.6M | 4.54M | 4.44M | 17.43M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Imminent liquidity shortfall
As reported in financial statements, RNTX has seen quarterly R&D expenditures climb from negligible levels in 2024 to $3.1M in 2026Q1, reflecting an aggressive push into clinical development that significantly outpaces the company's current ability to generate any form of offsetting commercial revenue.
The sharp increase in R&D spending suggests a transition toward more intensive clinical trial phases, which places immense pressure on the company's limited capital resources. Investors should monitor whether these costs are yielding actionable clinical data or merely accelerating the depletion of the firm's remaining cash reserves.
Based on RNTX's reported figures, the company consistently records negative operating income, with losses reaching $5.2M in 2026Q1, indicating that the firm lacks the operational scale to cover its fixed overhead through any form of sustainable revenue generation or cost-efficient clinical execution.
The absence of gross profit means that every dollar spent on SG&A and R&D directly exacerbates the company's operating deficit. This structure implies that the firm is entirely dependent on external financing to maintain its current operational trajectory, as there is no evidence of internal scaling.
According to recent SEC filings, RNTX's net income figures are heavily distorted by non-operating items and significant stock-based compensation, with quarterly net losses fluctuating wildly, including a notable $41.0M loss in 2024Q4 that complicates the assessment of the company's underlying cash burn.
The volatility in net income suggests that investors should prioritize cash flow analysis over GAAP earnings, as the latter is clearly impacted by non-cash charges and periodic accounting adjustments. The reliance on stock-based compensation as a primary expense component warrants further investigation into potential shareholder dilution risks.
As evidenced by the shift in 2025, RNTX moved from a period of minimal operational activity to a high-burn clinical phase, with R&D expenses jumping from thousands of dollars to millions per quarter, marking a definitive pivot toward high-stakes, capital-intensive drug development efforts.
This inflection point appears to represent the company's attempt to validate its stapled peptide platform, though it has simultaneously pushed the firm toward a precarious financial position. The lasting impact of this shift is a heightened sensitivity to capital market conditions and a reduced margin for error in clinical outcomes.
Based on the reported $3.2M cash balance, the company's current burn rate suggests an extremely limited runway, raising significant concerns regarding the firm's ability to continue as a going concern without immediate and potentially dilutive capital market intervention or a strategic asset sale.
Short-term observers may focus on the risk that the company's cash position is insufficient to reach the next major clinical milestone. This creates a scenario where the firm may be forced to accept unfavorable financing terms, which would likely impair long-term shareholder value regardless of the underlying science.
Quick answers to the most common questions about buying RNTX stock.
For fiscal year 2025, Rein Therapeutics Inc. (RNTX) reported total revenue of $0.0M.
Rein Therapeutics Inc. (RNTX) reported a net loss of $49.9M for the fiscal year ending 2025.