Debt And Revenue ChallengesThe high debt load and delay in apraglutide's revenue contribution mean there will likely be no meaningful revenue contribution until after Linzess' loss of exclusivity and debt maturity.
Regulatory ChallengesThe FDA requires another confirmatory Phase 3 trial for Apraglutide to validate its efficacy and match previous exposure levels.
Revenue SourcesThe company's primary cash flow source, collaboration revenue from Linzess, faces reimbursement headwinds and will encounter generic competition in 2029.