Cash PositionThe approximately $14.3M cash and equivalents through 1Q25 are not anticipated to fund operations for at least the next twelve months, necessitating the need for additional capital.
Financing ConcernsThe stock is down due to the financing overhang and a long path to value creation in PMS, rather than the reaction to the data.
Market PerceptionThe primary endpoint of brain volume did not show an effect, which can weigh negatively on perceptions of the study results.