What is Semnur Pharmaceuticals Inc.'s earnings per share (EPS)?

Semnur Pharmaceuticals Inc. (SMNR) reported diluted earnings per share of $-0.78 for fiscal year 2025. This represents a -3800.0% 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.

Semnur Pharmaceuticals Inc. Financials

SMNR

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Semnur Pharmaceuticals Inc. (SMNR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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 SMNR FY2025 2026-05-13

External financing is supporting a pre-commercial development model while near-term liquidity tightened sharply into FY2025.

From FY2024 to FY2025, operating cash burn widened from -$4.9M to -$5.9M while financing inflows remained almost one-for-one at $4.9M and $5.9M, showing the business is still funded externally rather than through internal cash generation. Meanwhile, cash fell to just $20K against $10.2M of current liabilities in FY2025, so the balance-sheet strain is no longer just cumulative losses; it is immediate liquidity.

R&D spending increased from $1.7M to $2.5M between FY2024 and FY2025, and the deeper operating cash outflow suggests development activity is still in a cash-consuming phase rather than one supported by operating receipts.

Even though total liabilities dropped from $49.5M to $22.1M from FY2024 to FY2025, total assets also shrank to only $1.3M, which is why equity remained deeply negative at -$20.8M instead of recovering with the liability reduction.

Financial Health Signals

Financial health score pending refresh

We are recalculating Semnur Pharmaceuticals Inc.'s peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

$-0.78

YoY-3800.0%

Semnur Pharmaceuticals Inc. earned $-0.78 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 3800.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$20K

YoY+66.7%

Semnur Pharmaceuticals Inc. held $20K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

230M

YoY+15.1%

Semnur Pharmaceuticals Inc. had 230M shares outstanding in fiscal year 2025. This represents an increase of 15.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

$2.5M

YoY+49.0%

Semnur Pharmaceuticals Inc. invested $2.5M in research and development in fiscal year 2025. This represents an increase of 49.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

SMNR Income Statement

Metric	FY25	FY24	FY23	FY22
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	$2.5M+49.0%	$1.7M	N/A	N/A
SG&A Expenses	N/A	$3.0M	N/A	N/A
Operating Income	N/A	-$4.7M-47.8%	-$3.2M	N/A
Interest Expense	N/A	$96K+160.8%	$37K	N/A
Income Tax	$0	$0	N/A	N/A
Net Income	N/A	-$4.7M-841.5%	$633K+250.8%	-$419K
EPS (Diluted)	$-0.78-3800.0%	$-0.02	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$1.3M	N/A	$1.1M	N/A	$187K	N/A	$233K	N/A
SG&A Expenses	$3.3M	N/A	N/A	N/A	$478K	N/A	$1.1M	N/A
Operating Income	-$4.6M	N/A	N/A	-$375K+43.6%	-$665K	N/A	-$1.3M-671.8%	-$168K
Interest Expense	N/A	N/A	N/A	$28K+5.1%	$27K	N/A	$25K+9.2%	$23K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$4.6M	N/A	N/A	-$999K-50.2%	-$665K-297.5%	-$167K+87.1%	-$1.3M-16.9%	-$1.1M
EPS (Diluted)	$-0.02	N/A	$-0.76	N/A	$-0.01	N/A	$-0.01	N/A

SMNR Balance Sheet

Metric	FY25	FY24	FY23	FY22
Total Assets	$1.3M-79.9%	$6.7M-86.8%	$50.7M-41.3%	$86.3M
Current Assets	$596K-90.1%	$6.0M+2762.4%	$209K-76.9%	$908K
Cash & Equivalents	$20K+66.7%	$12K-94.1%	$204K-75.1%	$820K
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	$22.1M-55.3%	$49.5M-44.3%	$88.8M-0.9%	$89.6M
Current Liabilities	$10.2M+28951.4%	$35K-99.4%	$5.6M+333.9%	$1.3M
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	-$20.8M+51.5%	-$42.8M-12.3%	-$38.1M-1064.5%	-$3.3M
Retained Earnings	-$275.8M-139.0%	-$115.4M-1293.1%	-$8.3M-153.2%	-$3.3M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$2.0M+46.3%	$1.3M+73.9%	$774K+37.6%	$562K-93.9%	$9.1M+36.9%	$6.7M-25.1%	$8.9M-82.9%	$52.1M
Current Assets	$1.2M+104.5%	$596K+601.2%	$85K+501.0%	$14K+417.0%	$3K-100.0%	$6.0M+16821.6%	$35K-19.1%	$44K
Cash & Equivalents	$103K+415.0%	$20K-76.5%	$85K+67360.3%	$126-98.2%	$7K-41.7%	$12K-7.7%	$13K+766.7%	$2K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$27.3M+23.5%	$22.1M+43.8%	$15.4M-65.9%	$45.0M-14.4%	$52.6M+6.3%	$49.5M-2.9%	$50.9M-45.1%	$92.8M
Current Liabilities	$10.4M+2.1%	$10.2M+1.4%	$10.0M+21.3%	$8.3M+5.3%	$7.9M+22333.5%	$35K-99.5%	$6.6M+4.4%	$6.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$25.3M-22.1%	-$20.8M-42.2%	-$14.6M+67.2%	-$44.4M-2.3%	-$43.4M-1.6%	-$42.8M-1.8%	-$42.0M-3.2%	-$40.7M
Retained Earnings	-$280.4M-1.7%	-$275.8M-2.3%	-$269.6M-2319.9%	-$11.1M-3.8%	-$10.7M+90.7%	-$115.4M-1121.5%	-$9.4M-3.1%	-$9.2M

SMNR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22
Operating Cash Flow	-$5.9M-20.0%	-$4.9M-672.9%	-$633K-48.5%	-$426K
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	$39.7M+147.2%	-$84.2M
Financing Cash Flow	$5.9M+20.1%	$4.9M+112.3%	-$39.7M-146.5%	$85.4M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$40.5M	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$2.7M+25.9%	-$3.6M-73.4%	-$2.1M-1064.5%	$215K+154.0%	-$399K+71.6%	-$1.4M+53.0%	-$3.0M-2515.7%	-$115K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A
Financing Cash Flow	$2.8M-22.2%	$3.5M	N/A	N/A	$394K-72.0%	$1.4M-56.1%	$3.2M+2682.0%	$115K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0	N/A	N/A

SMNR Financial Ratios

Metric	FY25	FY24	FY23	FY22
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	N/A	N/A	N/A	N/A
Return on Assets	N/A	-70.2%-71.4pp	1.3%+1.7pp	-0.5%
Current Ratio	0.06-171.2	171.29+171.2	0.04-0.7	0.70
Debt-to-Equity	N/A	N/A	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-232.4%	N/A	N/A	-177.6%-170.3pp	-7.3%-4.8pp	-2.5%+12.0pp	-14.5%-12.4pp	-2.1%
Current Ratio	0.12+0.1	0.06+0.1	0.010.0	0.000.0	0.00-171.3	171.29+171.3	0.010.0	0.01
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$20.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.06), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

What is Semnur Pharmaceuticals Inc.'s operating cash flow?

Semnur Pharmaceuticals Inc. (SMNR) generated -$5.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Semnur Pharmaceuticals Inc.'s total assets?

Semnur Pharmaceuticals Inc. (SMNR) had $1.3M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Semnur Pharmaceuticals Inc. spend on research and development?

Semnur Pharmaceuticals Inc. (SMNR) invested $2.5M in research and development during fiscal year 2025.

How many shares does Semnur Pharmaceuticals Inc. have outstanding?

Semnur Pharmaceuticals Inc. (SMNR) had 230M shares outstanding as of fiscal year 2025.

What is Semnur Pharmaceuticals Inc.'s current ratio?

Semnur Pharmaceuticals Inc. (SMNR) had a current ratio of 0.06 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Semnur Pharmaceuticals Inc.'s cash runway?

Based on fiscal year 2025 data, Semnur Pharmaceuticals Inc. (SMNR) had $20K in cash against an annual operating cash burn of $5.9M. This gives an estimated cash runway of approximately 0 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.

Why is Semnur Pharmaceuticals Inc.'s debt-to-equity ratio negative or not reported?

Semnur Pharmaceuticals Inc. (SMNR) has negative shareholder equity of -$20.8M as of fiscal year 2025, so no debt-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.