Pipeline ChallengesThe discontinuation of CB-010 in lupus, CB-012 in AML, and preclinical research does reduce the value from the pipeline.
R&D Investment ConcernsSG&A expenses were below expectations, which might indicate underinvestment in administrative and sales areas.
Regulatory And Development DelaysDelay in key readouts in the remaining pipeline raises questions ahead of go/no-go decisions and regulatory update.