High Gross MarginA gross margin of ~69% provides a durable structural cushion versus peers, implying product or cost advantages on core offerings. Sustained high gross margins give management flexibility to invest in R&D and commercialization while dampening the revenue growth needed to approach operating profitability over time.
Very Low Financial LeverageExtremely low leverage and a strong equity ratio reduce solvency risk and preserve strategic optionality through clinical cycles. This structural balance-sheet strength supports access to capital, strategic partnerships, and cushioning against development setbacks without urgent refinancing pressure.
Diversified Revenue/funding ModelA business model that includes licensing, milestone payments, royalties, and grants distributes commercial risk and provides non-dilutive funding pathways. Structurally, this reduces dependency on product sales timing and enables capital-efficient advancement of the pipeline through partnerships and staged payments.