- Acasti Pharma reported a net loss of $3.432 million for QQ2 2025 with no revenue recognized in the quarter. Operating expenses totaled $4.831 million, dominated by research and development ($2.976 million) and general and administrative costs ($1.853 million). EBITDA was negative $4.829 million, and net income declined to $-3.432 million, reflecting continued burn in a period with no top-line growth.
- The company shows strong short-term liquidity metrics (current ratio 6.01, cash per share $1.32) despite the ongoing cash burn. These liquidity levels imply a runway contingent on continued funding, partnerships, or licensing deals for CaPre and other cardiovascular initiatives.
- Management commentary in QQ2 2025 is constrained by the lack of revenue and the uncertain near-term commercialization path. The strategic focus remains the pursuit of strategic partnerships for CaPre and the broader pipeline, with no formal forward guidance disclosed in the filing. Investors should weigh the potential for value creation through licensing versus continued dilution risk and ongoing burn.
Key Performance Indicators
Operating Income
Decreasing
-4.83M
QoQ: 2.66% | YoY: -70.05%
Net Income
Decreasing
-3.43M
QoQ: -31.14% | YoY: -4.86%
EPS
Increasing
-0.30
QoQ: -25.00% | YoY: 30.23%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: 0 this quarter (no revenue recognized). Gross Profit: -$2,000; Gross Margin: not meaningful due to no revenue. Operating Income: -$4.831 million; EBITDA: -$4.829 million. Net Income: -$3.432 million; EPS: -$0.30. YoY metrics show the following: Operating Income down 70.05% YoY (relative to prior year quarter), Net Income down 4.86% YoY, and EPS up 30.23% YoY due to unusual prior-period adjustments in the comparator; QoQ metrics show Operating Income up 2.66% QoQ, Net Income down 31.14% QoQ, and EPS down 25.00% QoQ. Liquidity ratios remain robust (Current Ratio 6.01; Quick Ratio 6.01; Cash Ratio 5.67); Cash per share $1.32. Diluted EPS: -$0.30; Shares used in calculation: 11.506 million.
Income Statement
Metric
Value
YoY Change
QoQ Change
Gross Profit
-2.00K
99.90%
-100.00%
Operating Income
-4.83M
-70.05%
2.66%
Net Income
-3.43M
-4.86%
-31.14%
EPS
-0.30
30.23%
-25.00%
Key Financial Ratios
Return on Assets
Weak
-0.05%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.06%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
6.01
Current ratio indicates excellent liquidity and financial flexibility
P/E Ratio
Negative
-2.52x
Negative earnings make P/E ratio not meaningful
Price to Book
Undervalued
0.62x
Trading below book value, potential value opportunity or distressed
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Acasti Pharma Inc (ACST.V) QQ4 2025 Results — Modest Revenue, Strong Liquidity and Net Income Uplift Driven by Non-Operating Items as R&D Push Conti...