A pre-revenue biopharmaceutical firm leveraging substantial paid-in capital to advance therapeutic candidates while reporting net losses typical of early-stage drug development.
With total assets of $35.0M and shareholders equity of $29.3M, the company possesses a robust asset base to support its pipeline development; the ability to generate positive investing cash flow of $13.2M suggests active management in deploying capital or liquidating non-core assets to sustain operations during the critical R&D phases.
The persistent net loss trend from -$54.2M in 2022 to -$20.0M in 2024 highlights a lack of sustainable profitability and heavy operational burn; with revenue stagnant at $1.0M for the last five years, the company lacks a clear path to commercial viability without significant external funding or successful product approvals.
LISATA Therapeutics Inc. (LSTA) is a biopharmaceutical company focused on developing novel therapeutics for the treatment of serious medical conditions, primarily operating within the specialized pharmaceutical sector. The company currently reports minimal revenue of $1.0M in 2024, reflecting its stage as an R&D-intensive entity with significant cash reserves utilized to fund clinical development and administrative operations.
The company reported a net profit of -$20.0M in 2024, a slight improvement from -$20.8M in 2023, yet still facing substantial operating expenses of $23.4M against only $1.0M in revenue; cash flow from operations was -$19.4M while investing activities generated $13.2M, likely from the sale of marketable securities totaling $69.1M, which helped offset a net cash decrease of -$6.4M.
The biopharmaceutical industry is characterized by high capital expenditure for research and development, where companies often operate at a loss until key drug candidates reach market approval; success in this sector relies heavily on strategic partnerships and the ability to navigate complex regulatory landscapes while managing long development cycles.
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | $0 | $0 | $1.0M |
| Cost of Revenue | $0 | $0 | $0 |
| Gross Profit | $0 | $0 | $1.0M |
| Operating Expenses | $57.6M | $25.7M | $23.4M |
| Operating Income | $-57.6M | $-25.7M | $-22.4M |
| G&A | $14.1M | $13.0M | $12.1M |
| Stock-Based Comp | $2.6M | $2.0M | $1.7M |
| D&A | $69.0K | $189.0K | $174.0K |
| Depreciation | $100.0K | $100.0K | $100.0K |
| Amortization | $21.0K | $21.0K | $71.0K |
| Other OpEx | $43.5M | $12.7M | $11.3M |
| Non-Operating Income | $897.0K | $2.5M | $1.6M |
| Pre-Tax Income | $-56.7M | $-23.2M | $-20.8M |
| Income Tax | $-2.5M | $-2.3M | $-798.0K |
| Continuing Ops | $-54.2M | $-20.8M | $-20.0M |
| Discontinued Ops | $0 | $0 | $0 |
| Net Income | $-54.2M | $-20.8M | $-20.0M |
| Minority Interest | $0 | $0 | $0 |
| Net to Common | $-54.2M | $-20.8M | $-20.0M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Current Assets | $71.9M | $53.9M | $34.6M |
| Cash & Equivalents | $32.2M | $22.6M | $16.2M |
| Accounts Receivable | — | — | $900.0K |
| Prepaid Expenses | $2.6M | $3.4M | $2.4M |
| Other Current Assets | $37.1M | $27.9M | $15.0M |
| Long-Term Assets | $1.2M | $770.0K | $424.0K |
| PP&E (Net) | $296.0K | $175.0K | $72.0K |
| Intangibles | $400.0K | $400.0K | $400.0K |
| Operating Leases | $487.0K | $308.0K | $138.0K |
| Other LT Assets | $-25.0K | $-113.0K | $-186.0K |
| Total Assets | $73.0M | $54.7M | $35.0M |
| Current Liabilities | $6.4M | $6.6M | $5.6M |
| Accounts Payable | $2.7M | $2.4M | $1.3M |
| Current Leases | $180.0K | $168.0K | $137.0K |
| Other Current Liab | $-180.0K | $-168.0K | $-137.0K |
| Long-Term Liabilities | $327.0K | $210.0K | $72.0K |
| LT Operating Leases | $305.0K | $137.0K | $0 |
| Other LT Liab | $22.0K | $73.0K | $72.0K |
| Total Liabilities | $6.7M | $6.8M | $5.7M |
| Shareholders' Equity | $66.3M | $47.9M | $29.3M |
| Paid-In Capital | $574.5M | $577.0M | $578.4M |
| Retained Earnings | $-507.2M | $-528.1M | $-548.1M |
| AOCI | $-29.0K | $-42.0K | $-81.0K |
| Treasury Stock | $708.0K | — | — |
| Total L&E | $73.0M | $54.7M | $35.0M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income (CFO) | $-54.2M | $-20.8M | $-20.0M |
| Non-Cash Adjustments | $32.4M | $258.0K | $751.0K |
| Working Capital Changes | $608.0K | $550.0K | $-122.0K |
| Cash from Operations | $-21.2M | $-20.0M | $-19.4M |
| Capital Expenditures | $285.0K | $0 | — |
| Cash from Investing | $28.9M | $10.1M | $13.2M |
| Cash from Financing | $-224.0K | $385.0K | $-206.0K |
| FX Effect | $-10.0K | $-16.0K | $-55.0K |
| Net Change in Cash | $7.5M | $-9.6M | $-6.4M |
| Beginning Cash | $24.6M | $32.2M | $22.6M |
| Ending Cash | $32.2M | $22.6M | $16.2M |
Primary revenue streams are derived from strategic collaborations or licensing agreements within the pharmaceutical sector, supplemented by minimal product sales, with current financials showing $1.0M in gross profit and significant operating expenses of $23.4M driven by research and general administrative costs.
Investors must consider the high net loss of -$20.0M and the widening retained earnings deficit of -$548.1M which indicates ongoing profitability challenges; there is also significant risk from heavy reliance on non-operating income to offset losses, and the potential for further dilution if cash reserves deplete before commercial milestones are achieved.
The company maintains a strong balance sheet with $16.2M in cash and equivalents alongside $578.4M in paid-in capital, providing sufficient runway to continue R&D without immediate dilution pressure; additionally, the low current liabilities relative to assets suggest efficient short-term liquidity management despite high operating burn.
Not financial advice. All content is for informational purposes only. Data may contain errors. Consult a qualified financial advisor before making investment decisions.