Cash RunwayHigh annualized cash burn implies a limited cash runway that may require the company to seek new funding, risking dilution for existing shareholders.
Financing Terms RiskNear-term financing needs could force capital raises on unfavorable terms, increasing the company’s cost of capital and compressing upside for current investors.
Program Execution RiskUrgent fundraising pressure could divert management focus and resources, increasing the risk of delays in trial enrollment and key clinical milestones.