Breaking Down Scopus BioPharma Inc. (SCPS) Financial Health: Key Insights for Investors

You are looking at Scopus BioPharma Inc. (SCPS), a classic high-risk, pre-revenue biotechnology play, but the near-term financial picture is defintely alarming. As a seasoned analyst, I see a company with virtually no financial cushion: the latest available data from August 2025 shows total assets of just $0.50 million against total liabilities of $11.00 million, a staggering deficit that highlights the immediate capital risk. For the trailing twelve months (TTM) leading up to November 2025, the company reported a net loss of approximately $8.7 million, a burn rate that makes its tiny $16.83 thousand market capitalization look precarious.

The entire investment thesis rests on their lead candidate, an immuno-oncology RNA therapy for B-cell non-Hodgkin lymphoma, which received FDA approval for a Phase 1 clinical trial back in May 2021. That's the single, high-stakes opportunity. But still, the lack of a recent Phase 1 progress update, combined with a stock trading at $0.0004 as of November 2025, means this is less an investment and more a speculation on a last-minute financing miracle. You need to understand the true cash runway and the clinical development timeline, because the numbers suggest a critical financing event is not just due, but overdue.

Revenue Analysis

You're looking at Scopus BioPharma Inc. (SCPS), a clinical-stage biopharmaceutical company, and the first thing that hits you is the revenue line. It's a classic biotech situation: the company is currently generating $0.00 in quarterly revenue as of the most recent data in November 2025. This isn't a sign of failure; it's the reality for a company focused on deep research and development (R&D) before a product is ready for market.

The entire financial story here is about the pipeline, not product sales. For a company like this, the value is in its intellectual property (IP) and clinical trial progress, which is why the stock trades on future potential, not present sales. The near-term risk is clinical trial failure, not a drop in sales volume. That's the quick math.

Primary Revenue Source: The Zero-Dollar Reality

As a clinical-stage firm, Scopus BioPharma Inc.'s primary revenue source is effectively non-existent. The company is in the business of developing transformational therapeutics, specifically focusing on its lead product candidates: CO-sTiRNA, a STAT3 inhibitor gene therapy, and MRI-1867, which targets the endocannabinoid system. These are not yet commercialized products, so there are no sales to report.

This means the company's operating capital comes from financing activities-like issuing new stock or securing debt-not from selling goods or services. You need to shift your focus from the income statement's top line (revenue) to the balance sheet's cash position and the R&D expenditure to gauge its runway. For the 2025 fiscal year, the year-over-year revenue growth rate is a flat 0.00%, as there is no revenue base to grow from. Still, a zero growth rate is defintely a clear signal of its pre-commercial stage.

Here is the breakdown of the revenue situation for Scopus BioPharma Inc. (SCPS):

• Primary Revenue Sources: None (Clinical-stage development).
• Year-over-Year (YoY) Revenue Growth (2025): 0.00%.
• Contribution of Business Segments: 100% of revenue from $0.00 comes from no commercial operations.

Segment Contribution and Revenue Changes

Since the company is not selling products, the contribution of different business segments to overall revenue is straightforward: zero from commercial sales. Any inflow would typically be from non-operating sources, such as interest income on cash holdings or one-time licensing fees, which are not core, repeatable revenue streams.

The most significant change in revenue streams is the ongoing absence of a revenue stream. This structure is a clear signal that your investment thesis must be grounded in the potential net present value (NPV) of their pipeline drugs, not a discounted cash flow (DCF) model based on current earnings. What this estimate hides is the potential for a massive revenue spike if a drug candidate enters late-stage trials or secures a major partnership, but until then, it's a pure R&D play. For a deeper dive into the valuation, you can check out Breaking Down Scopus BioPharma Inc. (SCPS) Financial Health: Key Insights for Investors.

The next step for you is to analyze their R&D spending and cash burn rate. That's where the real action is for a company like Scopus BioPharma Inc.

Profitability Metrics

You're looking for a clear picture of Scopus BioPharma Inc. (SCPS)'s financial health, and the profitability numbers tell a stark, but common, story for a clinical-stage biotechnology company. The direct takeaway is that Scopus BioPharma Inc. is pre-revenue, meaning its current profitability is defined by its burn rate, not its sales.

For the trailing twelve months (TTM) leading up to November 2025, Scopus BioPharma Inc. reported virtually $\mathbf{\$0.00}$ in quarterly revenue. This is the most critical figure for understanding its margins. A company with no sales generates no gross profit, which means its gross profit margin is $\mathbf{0.00\%}$. This is a crucial distinction from a mature business; for Scopus BioPharma Inc., the focus is on research and development (R&D) and clinical trial progress, not sales efficiency.

Here's the quick math: since there is no revenue, both gross profit and operating profit are effectively negative, equal to the costs incurred. The company's primary measure of profitability is its net loss, which for the TTM period is a substantial $\mathbf{-\$8.696}$ million.

Margins and Trend Analysis

The trend in profitability for Scopus BioPharma Inc. is a consistent net loss, which is expected for a company in the development phase. You are defintely investing in a future product, not current earnings. The annual net loss for the 2022 fiscal year was $\mathbf{-\$11.61}$ million, and the quarterly net loss as of Q2 2023 was $\mathbf{-\$2.62}$ million. The TTM net loss of $\mathbf{-\$8.696}$ million suggests a relatively stable, albeit negative, operational expense profile as they advance their pipeline.

This pre-revenue status means the standard profitability ratios are not meaningful for comparison to a profitable company. Instead, we look at operational efficiency through cost management, which is primarily R&D and general and administrative (G&A) expenses.

• Gross Profit Margin: $\mathbf{0.00\%}$ (No product sales).
• Operating Profit Margin: Deeply negative (Losses equal to operating expenses).
• Net Profit Margin: $\mathbf{0.00\%}$ (Net loss divided by $\mathbf{\$0}$ revenue).

Industry Comparison and Operational Efficiency

When you compare Scopus BioPharma Inc.'s margins to the broader Biotechnology industry, the difference is stark but provides context. The industry average for Biotechnology, as of November 2025, shows a high average gross profit margin, but also a significant average net loss, reflecting the mix of profitable large-cap firms and pre-revenue development-stage firms like Scopus BioPharma Inc..

To be fair, the industry average net margin is heavily skewed by the number of companies in the development stage. You can read more about the sector's investor profile at Exploring Scopus BioPharma Inc. (SCPS) Investor Profile: Who's Buying and Why?

What this estimate hides is the potential for a massive, immediate shift in margins upon product approval and commercialization. For now, operational efficiency is measured by how effectively they manage their research and development (R&D) spend to hit clinical milestones. The current low market capitalization of Scopus BioPharma Inc. suggests investors are pricing in a high degree of risk regarding the successful development and monetization of their pipeline.

Debt vs. Equity Structure

When you look at Scopus BioPharma Inc. (SCPS), the first thing that jumps out is a capital structure that is defintely not reliant on borrowed money. This is a critical point for a clinical-stage biotechnology company, where cash burn is the norm and revenue is years away.

As of the latest quarter in August 2025, Scopus BioPharma Inc. (SCPS) essentially operates with a zero-debt strategy. Their long-term debt has historically been reported at $0.00 million, and this trend continues. This means they carry no significant long-term notes, bonds, or credit facilities on their balance sheet. They are not using debt financing to fund their research and development (R&D) pipeline.

The most telling metric is the Debt-to-Equity (D/E) ratio, which measures how much debt a company uses to finance its assets relative to the value of shareholders' equity. For Scopus BioPharma Inc. (SCPS), the total debt-to-equity ratio for the most recent quarter in 2025 is a stark 0.00%. This is a clear signal.

• SCPS D/E Ratio: 0.00% (August 2025).
• Biotechnology Industry Average D/E: 0.17 (or 17%) (November 2025).

To be fair, the industry average of 0.17 for Biotechnology is already low compared to capital-intensive sectors like Utilities, but Scopus BioPharma Inc. (SCPS)'s 0.00% is an extreme outlier. This is a very low-leverage profile. In short, they are debt-free.

This capital structure tells you exactly how the company is financing its growth: entirely through equity funding. Since they are debt-free, there are no recent debt issuances, credit ratings, or refinancing activities to track. All their capital comes from shareholders-either through initial public offerings (IPOs), follow-on public offerings (FPOs), or private placements, which is reflected in their substantial Additional Paid-In Capital. The trade-off is that while they avoid the fixed interest payments and default risk of debt, they expose shareholders to significant dilution risk with each new equity raise. This is the classic biotech funding model.

Here's the quick math on the financing balance:

The key action for you as an investor is to monitor the pace and size of their equity raises. Since they have no debt, their financial health hinges on their cash runway-how long their current cash reserves can fund operations before the next stock sale. For a deeper dive into who is buying these shares, you should be Exploring Scopus BioPharma Inc. (SCPS) Investor Profile: Who's Buying and Why?

Liquidity and Solvency

You're looking at Scopus BioPharma Inc. (SCPS), a clinical-stage biotech, and the first thing to check is whether they have the cash to keep the lights on and fund their drug pipeline. The short answer is that the company's liquidity position is defintely a high-risk area, which is common for pre-revenue biotech firms, but it demands close attention.

The key liquidity metrics, based on the most recent quarter available to investors in late 2025, paint a clear picture of strain. The company's ability to cover its short-term debts with its current assets is minimal.

• The Current Ratio sits at a very low 0.05. This means for every dollar of short-term liability, Scopus BioPharma Inc. (SCPS) has only 5 cents in current assets to cover it.
• The Quick Ratio (or acid-test ratio), which strips out less liquid assets like prepaid expenses, is even lower at 0.03. That's a red flag.

A ratio below 1.0 is a concern for any company; for Scopus BioPharma Inc. (SCPS), these numbers show a reliance on future financing, not current operations, to meet obligations. This is a capital-intensive business, and cash burn is the name of the game.

Here's the quick math on their working capital (Current Assets minus Current Liabilities):

The -$10.5 million working capital deficit shows that Scopus BioPharma Inc. (SCPS) has a significant gap between what it owes in the near term and what it can readily convert to cash. This deficit has been a consistent trend, signaling that the company is operating with negative working capital, a common but risky state for a development-stage company that has not yet commercialized a product.

Cash Flow Statement Overview and Liquidity Concerns

Looking at the cash flow statement (CFS) for the Trailing Twelve Months (TTM) gives us a better sense of how quickly they are burning through their capital. This is where the rubber meets the road for a biotech firm.

• Operating Cash Flow: This was a negative -$8.13 million (TTM). This is the core cash burn from running the business-R&D, administrative costs, and so on.
• Investing Cash Flow: This was negligible, a negative -$1.55 thousand (TTM), which is typical for a company focused on intellectual property and clinical trials rather than large capital expenditures.
• Financing Cash Flow: This provided a positive inflow of $241.94 thousand (TTM). This positive number is primarily from raising capital, which is the company's lifeline right now.

The net change in cash for the latest quarter was a loss of -$1.04 million, so the cash is draining quickly. The primary liquidity concern is the rate of cash burn versus the remaining cash on the balance sheet. Scopus BioPharma Inc. (SCPS) is entirely dependent on its ability to raise new capital through equity or debt financing to bridge the gap until a potential drug approval or partnership. You need to track their Mission Statement, Vision, & Core Values of Scopus BioPharma Inc. (SCPS) to understand their strategic direction, but honestly, the financial reality dictates their immediate future. This is a high-stakes financing game.

The clear action for you as an investor is to monitor their SEC filings for any announcements regarding new capital raises, as the current cash position is not sustainable for the long term without it.

Valuation Analysis

You're looking at Scopus BioPharma Inc. (SCPS) and trying to figure out if this micro-cap biotech stock is overvalued or undervalued. Here's the quick takeaway: traditional valuation metrics are largely useless here, which is common for clinical-stage companies. The stock is a high-risk, speculative bet on the success of its drug pipeline, not a value play based on current earnings.

As of November 2025, Scopus BioPharma Inc. trades at roughly $0.0004 per share, giving it a tiny market capitalization of about $16.83 thousand. This is a true penny stock, and its valuation must be viewed through the lens of its intellectual property and clinical trial progress, not its financials.

The Problem with Standard Ratios

For a company like Scopus BioPharma Inc., which is focused on developing its immuno-oncology programs, standard valuation ratios like Price-to-Earnings (P/E) and Enterprise Value-to-EBITDA (EV/EBITDA) are non-starters. They simply don't apply when a company is pre-revenue and spending heavily on research.

• Price-to-Earnings (P/E) Ratio: The trailing twelve months (TTM) P/E is cited as 0.00 or 'n/a.' This is because the company has minimal to no revenue and is generating losses, making the denominator (Earnings per Share) negative.
• Price-to-Book (P/B) Ratio: The P/B ratio is also reported as 0.00. This suggests the market value is effectively zero compared to its book value, or that its book value per share is negative, which is another red flag for a company burning cash.
• Enterprise Value-to-EBITDA (EV/EBITDA): While one source cites this TTM ratio as 0.15, this is highly misleading. The underlying Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the company is a negative -$9.34 million. Here's the quick math: a negative EBITDA means the ratio is mathematically meaningless for comparison, confirming the company is not profitable at the operating level.

These non-existent or negative ratios tell you one thing: the company is a pure speculation on future drug approval. For a deeper understanding of what they are trying to achieve, you should review their Mission Statement, Vision, & Core Values of Scopus BioPharma Inc. (SCPS).

Stock Price Volatility and Analyst View

The stock price trend over the last 12 months reflects extreme volatility, which is typical for a micro-cap biotech. The 52-week range has been between a low of $0.0002 and a high of $0.0100. This means the stock price has fluctuated by 50 times its low point in the last year. Over the last 12 months, the stock has technically increased by 33.33%, but it has also dropped by 60.00% in the most recent month, illustrating the massive risk involved.

Regarding a formal consensus, Scopus BioPharma Inc. does not currently have any active recommendation from major brokerage firms. This lack of coverage is a challenge for investors. While some technical analysis models suggest a 'negative evaluation' or a 'Sell candidate' as of November 2025, this is a technical signal, not a fundamental analyst's call. Since there is no dividend, there is no dividend yield or payout ratio to consider.

What this estimate hides is the binary nature of the business: a positive clinical trial result could send the stock soaring, while a failure could wipe out the valuation entirely. You are defintely buying a lottery ticket, not an established business.

Your next step should be to look past these financial ratios and conduct a deep dive into the clinical trial data for their Duet Platform, specifically DUET-01 and DUET-02, to gauge the true pipeline risk and opportunity.

Risk Factors

You need to look past the promising drug pipeline and focus on the cold, hard reality of Scopus BioPharma Inc. (SCPS)'s financial structure and operational hurdles. The direct takeaway is this: the company is a clinical-stage biopharma with significant liquidity risk, and its near-term survival hinges entirely on successful clinical data and capital raises.

The stock price itself tells a story of extreme risk, trading at only $0.0004 per share as of November 19, 2025, with a 52-week range of $0.0002 to $0.0100. That's a classic penny stock profile, and it means high volatility and a constant threat of delisting from the NASDAQ. Honestly, an investor's biggest risk here is total capital loss.

Internal and Operational Risks: The Clinical Gauntlet

For a company like Scopus BioPharma Inc., the primary internal risk is clinical trial failure. They are a development-stage company, meaning they have no commercial revenue, and their entire valuation is tied to the success of a few key drug candidates. They recently announced an Investigational New Drug (IND) submission to the FDA in May 2025 and are preparing for a Phase 1 clinical trial for a Non-Hodgkin's Lymphoma candidate.

• Drug Efficacy Risk: The Phase 1 trial may not show the necessary safety or efficacy to advance.
• Regulatory Delays: The FDA's (Food and Drug Administration) review process can be unpredictable, pushing timelines and increasing costs.
• Talent Retention: As a small biopharma, losing a single key executive or scientist-the 'brain drain' risk-could derail the entire pipeline.

Here's the quick math on the financial risk: the Trailing Twelve Months (TTM) Earnings Per Share (EPS) is deeply negative at -$0.31. This is typical for a biotech, but it confirms a high cash burn rate. What this estimate hides is the runway-how much cash they have left-which is the single most critical number right now. The company is operating at a net loss, recently reporting figures around -$2.6 million in a period, which necessitates frequent capital raises that severely dilute existing shareholders.

External and Market Risks: The Macro Headwinds

Beyond the lab, Scopus BioPharma Inc. faces a tough macroeconomic environment in 2025. The biotech sector is capital-intensive, and persistent economic volatility and high interest rates make raising capital more expensive and difficult.

• Financing Environment: A difficult market for small-cap biotech means any new equity offering will likely be at a heavily discounted price, causing significant shareholder dilution.
• Regulatory Pressure: Increased government regulation and oversight, especially around drug pricing and clinical trial transparency, are expected to have a big impact on businesses in 2025.
• Cybersecurity Threats: The biopharma industry holds highly valuable intellectual property (IP) and patient data. Global cybercrime is expected to surpass $10.5 trillion by the end of 2025, making the security of their research data a major, non-negotiable operational risk.

Mitigation and Next Steps

Mitigation for a clinical-stage company is primarily about managing cash and de-risking the pipeline. While Scopus BioPharma Inc. has not explicitly detailed its most recent 2025 mitigation plans in public snippets, the industry standard focuses on a few clear actions.

The company's strategic focus on advancing its lead drug candidates to the next phase is the core mitigation against operational failure. You can read more about their corporate objectives here: Mission Statement, Vision, & Core Values of Scopus BioPharma Inc. (SCPS).

For financial risk, the mitigation is a successful capital raise and rigorous expense control. For investors, the only mitigation is position sizing. Don't bet the farm on a single Phase 1 biotech. For the company, a key defensive action is to secure adequate insurance coverage for geopolitical and cyber threats and to implement robust intelligence monitoring of regulatory and threat trends.

Your next step as an investor is simple: Calculate the estimated cash runway based on the last reported net loss and current cash balance, then assume a 50% chance of Phase 1 failure.

Growth Opportunities

You need to understand that for an early-stage biopharma company like Scopus BioPharma Inc. (SCPS), the growth story isn't about current sales; it's defintely about the pipeline. The near-term financial reality is that the company is pre-revenue, reporting $0.00 in revenue for the latest quarter, and its net income was a loss of -$2.62 million as of the Q2 2025 financial period. This is normal for a company investing heavily in research and development (R&D), but it means all future value hinges on clinical success.

The core growth driver is the company's lead drug candidate, a novel, targeted immuno-oncology gene therapy. This is a high-risk, high-reward bet. The market will react violently to any significant clinical trial data, good or bad. For a company at this stage, a Phase 1 trial readout is the equivalent of a major product launch for a large-cap firm.

Key Growth Drivers: Pipeline and Innovation

The company's future revenue growth projections are entirely tied to its clinical pipeline, not commercial sales in the 2025 fiscal year. Right now, the valuation is a reflection of the potential of its drug candidates, particularly in the complex fields of gene therapy and the endocannabinoid system (ECS). The key candidates are:

• CO-sTiRNA: A STAT3 inhibitor gene therapy, which is the lead program in immuno-oncology for multiple cancers.
• MRI-1867: A dual-action CB1 receptor inverse agonist, targeting the ECS for other serious diseases.
• Duet BioTherapeutics: This subsidiary is focused on novel treatments, including one for Malignant Glioma, which is a significant unmet medical need.

Here's the quick math: a successful Investigational New Drug (IND) application or positive Phase 1 data can increase a biotech's market capitalization by multiples, even with no current revenue. A failure, however, could wipe out most of the value. That's the nature of the game.

Strategic Edge and Partnerships

Scopus BioPharma Inc. has smartly built its competitive advantage through strategic, high-caliber research partnerships. This model allows them to access world-class scientific expertise without the massive fixed costs of a fully integrated Big Pharma R&D division. This is a crucial de-risking strategy in the biotech world.

The company's competitive edge comes from its exclusive, worldwide license from the National Institutes of Health (NIH) for patents covering a series of novel dual-action CB1 receptor inverse agonists, including MRI-1867. Also, the collaboration with the Hebrew University of Jerusalem, a pioneer in ECS research, provides a deep well of scientific knowledge. Plus, their work with City of Hope, a renowned biomedical research center, strengthens their immuno-oncology program.

To fully understand the foundational science driving this company, you should review their core principles: Mission Statement, Vision, & Core Values of Scopus BioPharma Inc. (SCPS).

Financial Projections and Milestones

Since consensus financial estimates for 2025 revenue are essentially $0.00, we must look at milestones as the true value drivers. What this estimate hides is the potential for a massive, non-linear jump in valuation upon a major clinical event. The company is currently operating with a negative EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of approximately -$11.71 million (TTM as of August 2025), so cash burn is the key metric to watch, not revenue growth.

The following table outlines the key financial and clinical milestones that will drive the stock price, which is currently around $0.0004 per share as of November 2025:

Your next step should be to monitor the FDA's clinical trial database for updates on their INDs and Phase 1 trial starts, because that's what will move the needle, not traditional income statement analysis.