Development Re-evaluationThe company is re-evaluating further development of ‘P11 (novel psilocybin) as part of its prioritization efforts.
Uncertain Financial OutlookThe company ended the year with $27M in cash, and additional data and updates from the pipeline are awaited before making any substantive comments regarding the pipeline assets.
Valuation ConcernsAt this point, the product is not being added into the valuation, and the recommendation remains Market Perform.