Pre-revenue With Widening Operating LossesAs a development-stage oncology company with no product revenue, continued widening losses erode equity and require external funding. Without durable revenue growth, the firm remains exposed to dilution and constrained reinvestment capacity for commercialization and R&D.
Growing Cash Burn And Negative Free Cash FlowMaterial and accelerating negative free cash flow increases the likelihood of near-term financing needs. That structural cash burn can force dilutive equity raises or onerous debt terms, limiting long-term strategic flexibility and complicating sustained commercial investment.
Nasdaq Listing Non-compliance / Delisting RiskA formal non-compliance notice creates a material structural risk to liquidity and investor confidence. Potential delisting would raise cost of capital, hinder secondary financings and impair partnerships and commercial distribution over the coming months absent corrective action.