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HSPT

Horizon Space Acquisition II Corp.

HSPT

Horizon Space Acquisition II Corp. • NASDAQ
$10.50 ▲ 0.10% (+0.01)
Market Cap $95.34 M
52w High $10.50
52w Low $10.01
Dividend Yield 0%
P/E 52.5
Volume 1.02K
Outstanding Shares 9.08M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $615.026K ▲ 0% $-0.014 ▼ $0 ▲
Q2-2025 $0 $509.166K ▲ $221.282K ▼ 0% $0.024 ▼ $-509.166K ▼
Q1-2025 $0 $253.479K ▲ $472.592K ▲ 0% $0.22 ▲ $-253.479K ▼
Q4-2024 $0 $156.943K ▲ $187.587K ▲ 0% $0.023 ▲ $-156.943K ▼
Q3-2024 $0 $33.604K $-33.604K 0% $-0.004 $-33.604K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $66.627K ▲ $71.663M ▲ $558.754K ▲ $-436.294K ▼
Q2-2025 $26.03K ▼ $70.917M ▲ $427.852K ▲ $-311.77K ▼
Q1-2025 $364.776K ▼ $70.56M ▲ $291.651K ▲ $70.268M ▲
Q4-2024 $646.72K ▲ $70.065M ▲ $269.335K ▲ $69.795M ▲
Q3-2024 $0 $192.893K $216.858K $-23.965K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $615.026K ▲ $-259.403K ▲ $0 $300K ▲ $40.597K ▲ $-259.403K ▲
Q2-2025 $221.282K ▼ $-338.746K ▼ $0 $0 $-338.746K ▼ $-338.746K ▼
Q1-2025 $472.592K ▲ $-281.944K ▼ $0 ▲ $0 ▼ $-281.944K ▼ $-281.944K ▼
Q4-2024 $187.587K ▲ $-110.465K ▼ $-69M ▼ $69.757M ▲ $646.72K ▲ $-110.465K ▼
Q3-2024 $-33.604K $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Right now, HSPT is essentially a blank shell, so its income statement is not that of a normal operating company. It has no real revenue or operating business, and any small reported profit per share is more an accounting outcome of the SPAC structure than evidence of a sustainable earning engine. Looking ahead, if the merger with SL Bio closes, the combined company will likely show the typical pattern of an early-stage biotech: little to no product revenue for some time, with meaningful spending on research, clinical trials, and overhead, and a high chance of operating losses while the pipeline is being developed.

Balance Sheet

Balance Sheet The balance sheet at this stage is very simple and small, reflecting HSPT’s status as a SPAC without an active business. It shows a modest equity base, no meaningful debt, and minimal operating assets outside of the SPAC’s cash structure. This means current figures tell you more about the deal vehicle than about a real operating company. After the merger, the balance sheet will shift to that of a clinical-stage biotech and consumer-health company, likely characterized by significant intangible assets (licenses, R&D), a strong dependence on equity capital, and a need to manage cash carefully against long development timelines.

Cash Flow

Cash Flow Cash flows today are largely technical, tied to the SPAC structure rather than to sales or operations. There is no meaningful operating cash inflow because there is no active business yet, and there is effectively no investment in physical assets. The real cash flow story will start only if and when the merger closes: at that point, the combined entity will probably consume cash in its core operations, especially for research and clinical work, and will rely heavily on the cash in the trust account and any additional capital raises to fund its plans.

Competitive Edge

Competitive Edge As of now, HSPT has no operating competitive position; it is simply a vehicle to take another company public. The real competitive profile rests with SL Bio, the intended merger partner. Post-merger, that business would compete in two demanding arenas: cutting-edge cancer cell therapies and crowded skincare and haircare markets. Its potential strengths include proprietary T-cell platforms, a possible “off‑the‑shelf” therapy angle, exclusive licenses and academic collaborations, and an unusual blend of long-term oncology projects with nearer-term consumer products. Its challenges include intense competition from far larger biopharma players, scientific and regulatory uncertainty, and the need to stand out in a very noisy consumer-health market.

Innovation and R&D

Innovation and R&D The innovation story resides almost entirely in SL Bio. Its cancer programs center on advanced cell therapies, including an “armed” T‑cell platform and a gamma delta T‑cell platform that aims to enable more scalable, off‑the‑shelf treatments. These are scientifically ambitious, early-stage programs targeting very difficult cancers like brain and pancreatic tumors, which makes the upside meaningful but the risk of failure high. On the consumer side, SL Bio is developing regenerative skincare and haircare using milk‑derived exosomes and botanical extracts, and already has some commercial presence in Asia. Overall, the R&D profile is bold and diversified, but still early, with many clinical and regulatory hurdles ahead.

Summary

HSPT today is best viewed as a financing shell preparing to merge with SL Bio rather than as a standalone operating business. Its current financial statements are sparse and mainly reflect SPAC mechanics, not ongoing commercial activity. The real story, if the deal completes, is an early-stage biotech and regenerative-medicine company with a mix of high‑risk oncology programs and more near‑term consumer products. Strengths include differentiated cell-therapy platforms, proprietary licenses, and an unusual dual-business model that could balance long-term drug development with shorter-term product sales. Key uncertainties include whether the merger closes as planned, how much cash the combined company will have after redemptions and deal costs, its ability to fund multi‑year clinical trials, and the inherently high scientific and regulatory risk of novel cancer therapies. At this stage, the opportunity is largely about future potential rather than current financial performance.