Investor PerceptionInvestor perception of the norovirus opportunity has considerable room for improvement given the significant disease burden and the lack of approved or late-stage programs.
Potential Stock DilutionThe increase in the price target from $2.00 to $2.50 reflects subsidizing of planned R&D spend and potential dilution from a follow-on offering.
Regulatory ChallengesManagement is in ongoing active discussions with the FDA, highlighted by a recent Type C meeting, to clarify potential late-stage development, which could expedite the path to market.