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Polaryx Therapeutics, Inc. Financials

PLYX
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Polaryx Therapeutics, Inc. (PLYX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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 (10-K and 10-Q reports).

Rhea AI PLYX FY2025

Polaryx remains a cash-funded development-stage business, where equity financing rather than operations supports a sharply larger research push.

Across the last two annual periods, R&D spending more than doubled from $2.8M to $6.3M, showing the cost base is being intentionally pushed into research rather than administration. Cash still finished at $5.1M because external financing replaced internal cash generation; this balance sheet is acting as a funding bridge for research, not evidence of a self-supporting operation.

The balance sheet is lightly encumbered: liabilities were only $605K against $5.2M of assets, so near-term pressure comes more from burn than from creditors. An 8.5x current ratio reinforces that the constraint is funding continuity, not debt service.

Accounting loss and cash burn diverged: net loss reached -$9.0M while operating cash outflow was -$3.9M, so reported losses overstate the year’s immediate cash drain. That gap matters because SG&A barely moved while research spending expanded, which points to deliberate program build-out rather than a broad overhead blowout.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 33 / 100
Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Polaryx Therapeutics, 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.

Leverage
99

Polaryx Therapeutics, Inc. carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 8.55, Polaryx Therapeutics, Inc. holds $8.55 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns
0

Polaryx Therapeutics, Inc. generates a -196.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Weak
1/9

Polaryx Therapeutics, Inc. passes 1 of 9 financial strength tests. 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality
0.44x

For every $1 of reported earnings, Polaryx Therapeutics, Inc. generates $0.44 in operating cash flow (-$3.9M OCF vs -$9.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
-$9.0M

Polaryx Therapeutics, Inc. reported -$9.0M in net income in fiscal year 2025.

EPS (Diluted)
$-0.20
YoY+77.5%

Polaryx Therapeutics, Inc. earned $-0.20 per diluted share (EPS) in fiscal year 2025. This represents an increase of 77.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$5.1M
YoY+11.3%

Polaryx Therapeutics, Inc. held $5.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
47M
YoY+15.0%

Polaryx Therapeutics, Inc. had 47M shares outstanding in fiscal year 2025. This represents an increase of 15.0% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
-196.8%

Polaryx Therapeutics, Inc.'s ROE was -196.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending
$6.3M
YoY+122.9%

Polaryx Therapeutics, Inc. invested $6.3M in research and development in fiscal year 2025. This represents an increase of 122.9% from the prior year.

Share Buybacks
N/A
Capital Expenditures
N/A

PLYX Income Statement

Metric Q1'26 Q4'25 Q1'25 Q4'24
Revenue N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A
R&D Expenses $679K N/A $4.7M N/A
SG&A Expenses $1.3M N/A $336K N/A
Operating Income -$2.0M N/A -$5.1M N/A
Interest Expense N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A
Net Income -$2.5M N/A -$5.1M N/A
EPS (Diluted) $-0.05 N/A $-0.11 N/A

PLYX Balance Sheet

Metric Q1'26 Q4'25 Q1'25 Q4'24
Total Assets $3.5M-32.3% $5.2M N/A $5.0M
Current Assets $3.5M-32.3% $5.2M N/A $5.0M
Cash & Equivalents $3.1M-40.1% $5.1M N/A $4.6M
Inventory N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A
Total Liabilities $1.0M+67.6% $605K N/A $289K
Current Liabilities $1.0M+67.6% $605K N/A $289K
Long-Term Debt N/A N/A N/A N/A
Total Equity $2.5M-45.5% $4.6M+7.3% $4.3M-9.7% $4.7M
Retained Earnings -$102.2M-2.6% -$99.6M N/A -$90.7M

PLYX Cash Flow Statement

Metric Q1'26 Q4'25 Q1'25 Q4'24
Operating Cash Flow -$2.1M N/A -$709K N/A
Capital Expenditures N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A
Financing Cash Flow N/A N/A $250K N/A
Dividends Paid N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A

PLYX Financial Ratios

Metric Q1'26 Q4'25 Q1'25 Q4'24
Gross Margin N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A
Return on Equity -102.3% N/A -118.8% N/A
Return on Assets -72.6% N/A N/A N/A
Current Ratio 3.45-5.1 8.55 N/A 17.30
Debt-to-Equity 0.41+0.3 0.13 N/A 0.06
FCF Margin N/A N/A N/A N/A

Frequently Asked Questions

No, Polaryx Therapeutics, Inc. (PLYX) reported a net income of -$9.0M in fiscal year 2025.

Polaryx Therapeutics, Inc. (PLYX) reported diluted earnings per share of $-0.20 for fiscal year 2025. This represents a 77.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Polaryx Therapeutics, Inc. (PLYX) has a return on equity of -196.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Polaryx Therapeutics, Inc. (PLYX) generated -$3.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Polaryx Therapeutics, Inc. (PLYX) had $5.2M in total assets as of fiscal year 2025, including both current and long-term assets.

Polaryx Therapeutics, Inc. (PLYX) invested $6.3M in research and development during fiscal year 2025.

Polaryx Therapeutics, Inc. (PLYX) had 47M shares outstanding as of fiscal year 2025.

Polaryx Therapeutics, Inc. (PLYX) had a current ratio of 8.55 as of fiscal year 2025, which is generally considered healthy.

Polaryx Therapeutics, Inc. (PLYX) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Polaryx Therapeutics, Inc. (PLYX) had a return on assets of -173.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Polaryx Therapeutics, Inc. (PLYX) had $5.1M in cash against an annual operating cash burn of $3.9M. This gives an estimated cash runway of approximately 16 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Polaryx Therapeutics, Inc. (PLYX) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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.

Polaryx Therapeutics, Inc. (PLYX) has an earnings quality ratio of 0.44x, considered low quality (accrual-driven). 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.

Polaryx Therapeutics, Inc. (PLYX) scores 33 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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