Declining RevenuesRevenue falling more than 37% erodes the scale needed to dilute fixed R&D and regulatory costs. Without stable or growing sales, the company faces higher funding needs and reduced leverage with customers and regulators, increasing execution risk for commercial rollout over the medium term.
Negative Cash FlowsPersistent negative operating and free cash flows deplete reserves and force reliance on external financing. That constrains spending on clinical trials, manufacturing scale-up, and commercialization, heightening dilution risk and making sustained product development harder over the coming months.
Persistent Losses & Low ROENegative ROE and ongoing net losses show shareholder capital isn't producing returns. This reduces confidence from investors and limits access to non-dilutive capital, potentially forcing strategic trade-offs (cutting programs or diluting equity) that impair long-term value creation.