Cash Flow ConcernsThe company's cash runway supports operations only into 1H26 after implementing cost-cutting measures, which is well short of management’s guidance of initial in-vivo clinical data for Wilson’s and AATD in 2027.
Clinical Data DependencyIt is unlikely that an acquisition will happen without clinical data from their Wilson Disease or AATD programs.
Revenue Model ImpactThe decision to remove revenues from deprioritized programs and only model revenue contribution from Wilson’s Disease and AATD has led to a restructuring of the PRME model, affecting the target price.