The bull case hinges entirely on inflection. EPS is projected to improve dramatically from -16.9 to -0.44 next year, implying a massive reduction in losses and potential operational stabilization. Despite catastrophic current profitability metrics, the company maintains a current ratio of 1.2, suggesting it can meet near-term obligations without immediate liquidity collapse. A Piotroski F-Score of 3 is weak but not irredeemable for a development-stage biotech, and in this space, valuation often precedes fundamentals—meaning a single clinical success could justify a multiple far beyond what traditional metrics imply. For aggressive GARP investors, this is about buying asymmetric upside before financial metrics turn.