Business And Execution RisksInvestment case remains exposed to clinical, regulatory, commercial, collaboration, and intellectual property risks that could delay approvals, uptake, or valuation realization.
Financial PerformanceReported operating and net losses highlight ongoing cash burn and the potential need for additional capital to sustain commercial expansion and development plans.
Government Contract TimingGovernment shutdown disrupted BARDA stockpiling negotiations, reducing revenue visibility and creating uncertainty around the timing of government payments.