Small, Declining Revenue BaseTTM revenue is small and falling (~14.6% decline), with Q3 net sales minimal. A shrinking, low revenue base undermines scalability and internal funding capacity, delays path to break-even, and heightens dependence on external financing for commercial expansion over the medium term.
Negative Stockholders' EquityNegative stockholders' equity signals materially weakened balance-sheet strength. Persistent losses and negative equity constrain borrowing capacity, elevate dilution risk from future financings, and can hinder partnership or distribution agreements that favor financially robust counterparts.
Uncertain Payer Coverage And TimingDespite a Medicare rate, formal payer coverage is lacking, leaving reimbursement and predictable test volumes uncertain. Without broad coverage decisions, adoption and lab-level scale are likely to be delayed, slowing reliable revenue growth and making commercial forecasts structurally uncertain.