Rein Therapeutics, Inc.

Listed Company

RNTXCIK 0001420565NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsFY ends Dec 31

Period

FY 2025

Revenue

Net Income

$-49.87M

Total Assets

—

Equity

—

Shares Out

85.54M

Op. Cash Flow

$-19.36M

Business

Rein Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel therapies for orphan pulmonary and systemic fibrosis indications. Its main product candidates include LTI-03, a Cav1-derived peptide in clinical trials for idiopathic pulmonary fibrosis, and LTI-01, a single-chain urokinase plasminogen activator investigated for loculated pleural effusion, alongside preclinical programs targeting cystic fibrosis and systemic fibrosis. The company operates development programs, in-licenses technology from academic institutions, and pursues regional out-licenses and collaborations. It conducts clinical trials across the U.S., UK, EU and Australia, relies on third-party contract manufacturers, and plans to use partners or build sales capabilities for distribution.

Summary from filing dated 2025-04-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	0	0	0	0	0
Research and development	11	14	4	18	17
General and administrative	11	14	11	10	10
Impairment loss on intangible assets	29	37	0	—	—
Total operating expenses	51	65	16	28	27
Loss from operations	−51	−65	−16	−28	−27
Other income, net	48,000	685,000	544,000	318,000	441,000
Income tax benefit	712,000	2	0	—	—
Net loss	−50	−63	−16	−27	−26
Net loss per share - basic	−1.96	−3.51	−3.42	−6.02	−5.89
Net loss per share - diluted	−1.96	−3.51	−3.42	−6.02	−5.89
Weighted average common shares outstanding - basic	25	18	5	5	4
Weighted average common shares outstanding - diluted	25	18	5	5	4
Unrealized (loss) gain on investments, net of tax of $0	−15,000	45,000	48,000	−35,000	−11,000
Foreign currency translation adjustments	−29,000	0	—	—	—
Total other comprehensive (loss) gain	−44,000	45,000	−15,000	−35,000	−11,000
Total comprehensive loss	−50	−63	−16	−27	−26

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	3	13	17	5	4
Prepaid expenses and other current assets	1	792,000	882,000	606,000	2
Total current assets	4	14	18	22	48
Property and equipment, net	0	1,000	19,000	70,000	128,000
Goodwill	6	6	6	—	—
Intangible assets	14	42	79	—	—
Other non-current assets	2,000	2,000	2	24,000	24,000
Total assets	24	62	106	22	48
Accounts payable	4	911,000	1	2	1
Accrued expenses and other current liabilities	2	5	3	2	3
Total current liabilities	6	6	4	3	5
Deferred tax liability	1	2	3	—	—
Other long-term liability	0	277,000	—	—	—
Total liabilities	7	8	8	3	5
Commitments and contingencies (Note 12)	—	—	—	—	—
Convertible preferred stock, $0.001 par value, 5,000,000 shares authorized at December 31, 2025 and at December 31, 2024; 24,610 shares issued and 12,232 shares outstanding at December 31, 2025 and at December 31, 2024	45	45	91	—	—
Common stock, $0.001 par value; 100,000,000 shares authorized at December 31, 2025 and at December 31, 2024; 27,550,222 shares and 21,666,012 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	113,000	108,000	91,000	91,000	91,000
Additional paid-in capital	373	361	295	291	289
Accumulated other comprehensive loss	−62,000	−18,000	−63,000	−48,000	−13,000
Accumulated deficit	−401	−351	−289	−273	−245
Total liabilities, convertible preferred stock and stockholders' equity	24	62	106	22	48

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−50	−63	−16	−27	−26
Commitment fee related to Pre-Paid Advance agreement	300,000	0	—	—	—
Original issue discount related to Pre-Paid Advance agreement	150,000	0	—	—	—
Depreciation and amortization expense	1,000	63,000	119,000	169,000	121,000
Stock-based compensation expense	2	1	1	2	2
Prepaid expenses and other current assets	−319,000	134,000	51,000	2	−291,000
Other assets	0	2	−3,000	—	−24,000
Accounts payable	3	−279,000	−5	510,000	−386,000
Operating lease liabilities	0	−48,000	−65,000	−129,000	−66,000
Accrued expenses and other current liabilities	−3	2	−382,000	−2	1
Other long-term liabilities	−277,000	277,000	0	—	—
Deferred tax liabilities	−712,000	−2	0	—	—
Net cash used in operating activities	−19	−22	−20	−25	−24
Proceeds from issuance of common stock, net of offering costs	2	11	0	—	—
Proceeds from Pre-Paid Advances, net of discounts	3	0	—	—	—
Proceeds from issuance of common stock in connection with stock option exercises	4,000	143,000	0	—	74,000
Proceeds from issuance of common stock in connection with Warrant Exercises, net of costs	2	0	—	—	—
Proceeds from issuance of warrants, net of offering costs	481,000	7	0	—	—
Proceeds from Warrant Exchanges, net of offering costs	3	0	—	—	—
Proceeds from warrant exercises with common stock subscribed	22,000	0	—	—	—
Net cash provided by financing activities	10	18	16	—	56
Effect of exchange rate changes on cash and cash equivalents	−44,000	0	−63,000	—	—
Net decrease in cash and cash equivalents	−10	−4	12	2	−4
Unrealized (loss) gain on short-term investments	−15,000	37,000	48,000	—	—
Foreign currency translation adjustments	−29,000	0	—	—	—
Issuance of common stock for Pre-Paid Advances and interest accrual	3	0	—	—	—
Conversion of Series X non-voting convertible preferred stock into common stock shares	0	46	0	—	—

Filings

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