Korsana Biosciences (KRSA) Financials
Ticker history: CYCN became KRSA (Korsana Biosciences, Inc.) on . Earlier news and filings retain their original names and dates. View CYCN history.
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KRSA SEC filings page.
Korsana Biosciences, Inc. (KRSA) reported $2.1M in revenue for fiscal year 2025, up 3.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings.
Korsana remains a small-revenue development business with FY2025 liability-heavy expansion that erased shareholder equity.
FY2025 operating cash flow was-$3.3M against a net loss of$3.5M , so accounting losses largely translated into cash needs. In FY2024, cash outflow of$4.3M exceeded the$3.1M loss, indicating cash conversion improved but remains loss-driven.
FY2025 revenue was only
The 12.4x current ratio looks comfortable for current obligations, but total liabilities exceeded total assets in FY2025. That imbalance left negative equity of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Korsana Biosciences, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Korsana Biosciences, Inc. held $159.5M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $3.3M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Korsana Biosciences, Inc. scores 100/100 among other emerging companies.
Korsana Biosciences, Inc. had 4M shares outstanding at the end of fiscal year 2025, against 3M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Korsana Biosciences, Inc. scores 29/100 among other emerging companies.
Korsana Biosciences, Inc. spent $959K on research and development in fiscal year 2025, which was 13.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Korsana Biosciences, Inc. scores 44/100 among other emerging companies.
Korsana Biosciences, Inc. reported revenue of $2.1M in fiscal year 2025, against $2.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Korsana Biosciences, Inc. scores 48/100 among other emerging companies.
Korsana Biosciences, Inc.'s operations used $3.3M of cash in fiscal year 2025, against $4.3M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Korsana Biosciences, Inc. scores 87/100 among other emerging companies.
Korsana Biosciences, Inc.'s cash, cash equivalents and investments came to $159.5M at the end of fiscal year 2025, against $188.6M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Korsana Biosciences, Inc. scores 57/100 among other emerging companies.
Korsana Biosciences, Inc. scores 5.20, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $1.4B against total liabilities of $188.6M. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Korsana Biosciences, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.
Korsana Biosciences, Inc. reported a net loss of $3.5M while operations used $3.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Korsana Biosciences, Inc. reported a net loss of $46.4M in Q3 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Not reported for Q3 2026.
Cash & Balance Sheet
Korsana Biosciences, Inc. recorded an outflow of $47.1M in free cash flow in Q3 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Korsana Biosciences, Inc. held $456.2M in cash as of Q3 2026; no long-term debt figure is on record for that period.
Not reported for Q3 2026.
Margins & Returns
Korsana Biosciences, Inc.'s quarterly ROE was -11.9% in Q3 2026: one quarter's net income over shareholder equity, not annualized.
Not reported for Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
Korsana Biosciences, Inc. invested $42K in research and development in Q3 2026. This represents an increase of 105.8% from the same quarter a year earlier.
Korsana Biosciences, Inc. invested $231K in capex in Q3 2026, funding long-term assets and infrastructure. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
KRSA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $0-100.0% | $1.0M-43.2% | $875K+351.0% | $93Kn/m | $81Kn/m | $1.8Mn/m |
| R&D Expenses | $42K+105.8% | N/A | $730K+1927.8% | $519K+826.8% | $20K-74.7% | $56K-46.7% | $36K-18.2% | $56K+133.3% |
| SG&A Expenses | $6K+315.1% | $1.8M+3.6% | $2.5M+65.0% | $1.3M+7.7% | $1K-99.9% | $1.7M+33.6% | $1.5M-4.6% | $1.2M-29.6% |
| Operating Income | -$48Kn/m | -$1.8Mn/m | -$3.2Mn/m | -$838K-266.9% | -$22Kn/m | -$1.7Mn/m | -$1.5Mn/m | $502Kn/m |
| Income Tax | $0n/m | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Net Income | -$46.4Mn/m | -$17.4Mn/m | -$13.5Mn/m | -$799K-250.8% | -$21.7Mn/m | -$152Kn/m | -$73Kn/m | $530Kn/m |
| EPS (Basic) | -$3.19 | -$0.41 | -$0.76 | -$0.19 | -$39.49 | -$0.11 | -$0.56 | $0.22n/m |
| EPS (Diluted) | -$3.19 | -$0.41 | -$0.76 | -$0.19 | -$39.49 | -$0.11 | -$0.56 | $0.22n/m |
| Diluted Shares (Avg) | 14M | 4M | 4M | N/A | 550,061 | 3M | 3M | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EBITDA, Interest Expense.
KRSA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $462.1M+4336.7% | $6.9M-26.0% | $8.5M-13.6% | $154.6M+1514.6% | $10.4M+17.0% | $9.4M-6.9% | $9.8M-13.3% | $9.6M-28.4% |
| Current Assets | $460.6M+8994.7% | $1.5M-62.3% | $3.1M-31.3% | $154.6M+3559.1% | $5.1M+42.8% | $4.0M-14.7% | $4.5M-25.2% | $4.2M-47.3% |
| Cash & Equivalents | $456.2M+9887.3% | $1.4M-53.7% | $2.8M-22.4% | $154.1M+4669.0% | $4.6M+59.1% | $3.0M-34.5% | $3.6M-36.1% | $3.2M-57.3% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | N/A | $0-100.0% | $0-100.0% | $1.0M+79.9% | $100K+127.3% | $525K | $581K | $556Kn/m |
| Long-Term Investments | $0-100.0% | $5.3M0.0% | $5.3M0.0% | $5.3M0.0% | $5.3M0.0% | $5.3M0.0% | $5.3M0.0% | $5.3M0.0% |
| Total Liabilities | $45.6M+41.3% | $70.2M+639.6% | $55.5M+464.9% | $188.6M+1883.0% | $32.3M+4507.3% | $9.5M+640.5% | $9.8M+582.2% | $9.5M+355.8% |
| Current Liabilities | $44.2M+4939.6% | $1.8M+130.4% | $1.7M+60.6% | $12.5M+1622.6% | $877K+25.3% | $800K-37.6% | $1.1M-26.0% | $725K-65.2% |
| Non-Current Liabilities | $1.4M-95.7% | $68.4M+686.4% | $53.8M+514.1% | $176.1M+1904.5% | $31.4Mn/m | $8.7Mn/m | $8.8Mn/m | $8.8Mn/m |
| Total Equity | $391.6Mn/m | -$63.3Mn/m | -$47.0M-294012.5% | -$34.0M-51566.7% | -$21.8M-366.4% | -$123K-101.4% | $16K-99.8% | $66K-99.4% |
| Retained Earnings | -$113.0Mn/m | -$276.0Mn/m | -$274.2Mn/m | -$35.7Mn/m | -$270.2Mn/m | -$269.2Mn/m | -$268.9Mn/m | -$267.5Mn/m |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
KRSA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$46.8Mn/m | -$1.4Mn/m | -$1.2Mn/m | $8.5M+2256.9% | -$10.3Mn/m | -$503Kn/m | -$968Kn/m | $360Kn/m |
| Stock-Based Compensation | $15.2M+7188.0% | $51K-55.3% | $58K-49.1% | N/A | $209K+51.4% | $114K-38.0% | $114K-37.0% | N/A |
| Capital Expenditures | $231Kn/m | $0n/m | $66Kn/m | N/A | $0 | $0 | $0 | N/A |
| Free Cash Flow | -$47.1Mn/m | -$1.4Mn/m | -$1.2Mn/m | N/A | -$10.3M | -$503K | -$968K | N/A |
| Investing Cash Flow | -$231Kn/m | $0n/m | -$66Kn/m | N/A | $0n/m | $0 | $0 | $0n/m |
| Financing Cash Flow | $351.1M+19127.6% | $0n/m | $825K-40.0% | -$162.3Mn/m | $1.8Mn/m | -$130Kn/m | $1.4Mn/m | $0n/m |
Not reported in any period shown, so not listed: Depreciation & Amortization, Dividends Paid, Share Buybacks.
KRSA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'26Filing | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | -81.8%-109.6pp | -2.5% | -1797.8% | -1798.8% | 27.8% |
| Net Margin | N/A | N/A | N/A | -78.0%-107.3pp | -111.5% | -163.4% | -90.1% | 29.3% |
| Return on Equity | -11.9% | N/A | N/A | N/A | N/A | N/A | -456.3%-440.7pp | 6.0%+21.0pp |
| Return on Assets | -10.1%-0.7pp | -25.3%-23.7pp | -158.8%-158.1pp | -8.0%-13.5pp | -9.4%-1.2pp | -1.6%+11.5pp | -0.7%+12.8pp | 5.5%+18.2pp |
| Current Ratio | 10.42+4.6x | 0.82-4.2x | 1.80-2.4x | 12.38+6.6x | 5.78+0.7x | 5.03+1.3x | 4.210.0x | 5.83+2.0x |
| Liabilities-to-Equity | 0.12 | N/A | N/A | N/A | N/A | N/A | 614.44+614.3x | 144.08+143.9x |
| Asset Turnover | N/A | N/A | 0.000.0x | 0.10-0.1x | 0.08+0.1x | 0.010.0x | 0.010.0x | 0.19+0.2x |
| FCF Margin | N/A | N/A | N/A | N/A | -1180.3% | -540.9% | -1195.1% | N/A |
Not reported in any period shown, so not listed: Gross Margin, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$34.0M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Korsana Biosciences, Inc. KRSA | FY2025 | $2.1M | -$3.5M | N/A | $1.4B | 61/100 |
| Nuvation Bio Inc. NUVB | FY2025 | $62.9M | -$204.6M | N/A | $1.5B | 58/100 |
| Damora Therapeutics, Inc. DMRA | FY2025 | N/A | -$209.8M | N/A | $1.5B | — |
| Tyra Biosciences, Inc. TYRA | FY2025 | N/A | -$119.9M | N/A | $1.5B | — |
| Structure Therapeutics Inc. GPCR | FY2025 | N/A | -$141.2M | N/A | $1.5B | — |
| Rapport Therapeutics, Inc. RAPP | FY2025 | N/A | -$111.5M | N/A | $1.5B | — |
Where Korsana Biosciences, Inc. Ranks
Frequently Asked Questions
Korsana Biosciences, Inc. (KRSA) reported $2.1M in total revenue for fiscal year 2025. This represents a 3.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Korsana Biosciences, Inc. (KRSA) revenue grew by 3.7% year-over-year, from $2.0M to $2.1M in fiscal year 2025.
No, Korsana Biosciences, Inc. (KRSA) reported a net loss of $3.5M in fiscal year 2025.
Korsana Biosciences, Inc. (KRSA) recorded an outflow of $3.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Korsana Biosciences, Inc. (KRSA) had $154.6M in total assets as of fiscal year 2025, including both current and long-term assets.
Korsana Biosciences, Inc. (KRSA) invested $959K in research and development during fiscal year 2025.
Korsana Biosciences, Inc. (KRSA) had a current ratio of 12.38 as of fiscal year 2025, which is generally considered healthy.
Korsana Biosciences, Inc. (KRSA) had a return on assets of -2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Korsana Biosciences, Inc. (KRSA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to September 30, 2026). The market capitalization is $1.4B as of Nov 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Korsana Biosciences, Inc. (KRSA) trades at 684x sales, its market capitalization divided by $2.1M revenue, FY2025. The market capitalization is $1.4B as of Nov 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Korsana Biosciences, Inc. (KRSA) has negative shareholder equity of -$34.0M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
Korsana Biosciences, Inc. (KRSA) has an Altman Z-Score of 5.20, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Korsana Biosciences, Inc. (KRSA) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Korsana Biosciences, Inc. (KRSA) reported a net loss of $3.5M while operations used $3.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Korsana Biosciences, Inc. (KRSA) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.