Proprietary IDOSE PlatformThe integrated IDOSE platform combines planning, monitoring and light-delivery for controlled PDT, creating a differentiated, technical barrier to entry. As a platform it supports extension into other solid tumors and recurring procedure revenues, underpinning durable commercial potential.
Low Financial LeverageVery low debt-to-equity reduces financial distress risk and preserves flexibility to raise capital or withstand clinical/commercial delays. This conservative leverage profile is a durable strength that lengthens runway compared with highly levered peers in capital-intensive medtech development.
Improving Free Cash Flow TrendA 40.6% year-over-year improvement in FCF, while still negative, indicates operational progress or cost discipline. If sustained, this trend materially reduces future funding needs and signals management can incrementally improve cash efficiency during commercialization and clinical scaling.