No Revenue And Negative Gross ProfitZero product or recurring revenue means the business cannot self-fund operations and remains entirely dependent on external capital or licensing events. Persistent negative gross profit signals the company has yet to demonstrate scalable, margin-generating operations.
Persistent Cash Burn & Funding RelianceConsistent negative operating and free cash flow creates an ongoing financing imperative. Over a 2-6 month horizon this increases dilution and execution risk if trial timelines slip or partnerships delay, constraining strategic flexibility until revenue or non-dilutive funding arrives.
Very Small Operational ScaleA single-employee reported headcount signals limited internal capacity to run trials, regulatory work, and commercialization activities. This structural constraint increases dependence on external CROs, partners, or management hires, raising execution risk and potential delays on the critical path.