No Recurring RevenueZero reported revenue means the business lacks an internal, recurring cash generation engine and remains dependent on trial milestones or external funding. Over months this limits self-sufficiency and heightens execution risk if clinical timelines slip.
Persistent Negative Cash FlowConsistent negative operating and free cash flow forces reliance on capital markets or partners to fund operations. Even with improvement, sustained outflows create ongoing financing needs that can dilute shareholders and constrain long-term planning if not resolved.
Scale And Financing Concentration RiskA one-person employee base and reliance on equity financing signal limited internal scale and execution bandwidth. Structurally, this raises dependency on external partners and recurring capital raises, increasing dilution risk and slowing commercialization or large-scale development progress.