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The Company We are an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain. We target indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving…
The business is unprofitable at the operating level (-1143.71% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 46.5% YoY. Margins deteriorated 996.3pp alongside, both lines moving the wrong way.
Free cash flow declined 81% versus the prior year, cash generation momentum has weakened. ROIC dropped from -49.76% to -312.20%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$33M
▼ -46.5% YoY
Net Income (TTM)
-$394M
▼ -413.8% YoY
Op. Margin
-1059.46%
▼ -996.3pp YoY
ROIC
-289.37%
▼ -262.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -81.0% YoY
Op. Cash Flow (TTM)
-$3M
▼ -80.3% YoY
Net Debt
$121M
Cash & Equiv.
$3M
5Y CAGR: +5.1%
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