Broad Market ChallengesBroad market headwinds continue in 2025 including continued challenging financing conditions and changes to NASDAQ/NYSE listing rules, pressuring small/micro cap biotech stocks.
Equity Financing ImpactThe 12-month price target is reduced to $12 from the prior $30 per share to reflect the impact of the most recent equity financing, future potential equity issuances, and the exercise of warrants.
Risk FactorsRisks include, but are not limited to: failure to initiate trials in a timely manner, negative clinical results for buntanetap in Parkinson's disease and/or Alzheimer's disease, inability to establish partnerships to commercialize buntanetap, failure to secure approval for buntanetap and/or other pipeline candidates, slower-than-anticipated market uptake, and possible medium-term dilution risk.