Sharp Revenue ContractionA near‑46% revenue decline is a material, persistent deterioration in top-line scale. Loss of revenue reduces fixed cost absorption, undermines margins, and limits the firm's ability to fund R&D or commercialization. Absent a structural revenue recovery plan, this trend threatens medium‑term viability.
Negative Operating And Free Cash FlowSustained negative operating and free cash flows indicate the business cannot generate internal liquidity to fund operations or investment. Over several months this forces reliance on external financing or asset sales, raises dilution or solvency risk, and constrains strategic options and growth execution.
Negative Shareholders' EquityNegative stockholders' equity signals balance sheet distress and potential insolvency risk. This structural weakness limits access to debt and equity markets, increases borrowing costs, and reduces resilience to shocks, impairing the company's capacity to support R&D, commercial launches, or recover from revenue setbacks.