The company reported fiscal first-quarter revenue climbing 44% to $1.7 million, yet these gains were eclipsed by widening losses. The firm posted a $10.5 million deficit, a sharp increase from the $7.4 million loss recorded during the same period last year. Per-share losses remained locked at $1.28, failing to reassure markets already rattled by the sudden leadership turnover.
Bowen has been tapped to serve as financial adviser as the board explores options to bolster growth and market access. No timeline exists for the conclusion of this review, leaving investors in a state of uncertainty. Following the announcement, the stock dropped an additional 4% in after-hours trading to $2.62.
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