Financial PerformanceThe company's second-quarter revenue significantly missed market expectations, with $37.2 million achieved compared to the anticipated $48.2 million, following a previous solid first-quarter performance.
Leadership StabilityThe departure of the Chief Financial Officer for personal reasons has created uncertainty, even though management insists that the company's key strategic drivers remain unchanged.
Market ConditionsThe company is facing several systemic challenges, such as reduced pharmaceutical spending, which constitutes about 70% of its customer base, and a constrained capital expenditure environment affecting its instrument sales.