Very Small And Declining Revenue BaseA tiny, shrinking revenue base hampers the company's ability to scale fixed costs and demonstrate a sustainable business model. Without a steady and growing test volume, operating leverage remains negative and profitability will be difficult to achieve over the medium term.
Persistent Negative Cash Flow And External Funding RelianceSustained negative operating and free cash flow forces reliance on external capital, increasing dilution and execution risk. If capital markets tighten or future raises are constrained, the company may face impaired ability to complete commercialization and registry studies critical to long‑term revenue realization.
Payer Coverage Not Yet SecuredWithout formal payer coverage, the established Medicare price cannot be broadly realized and commercial adoption will remain limited. Coverage timing is uncertain and directly affects durable revenue scaling, collections and the incentives for providers to integrate testing into care pathways.