Board Change • May 20
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. Independent Director Richard Marshall is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 21
Serina Therapeutics, Inc., Annual General Meeting, Jun 17, 2026 Serina Therapeutics, Inc., Annual General Meeting, Jun 17, 2026. Announcement • Apr 08
Serina Therapeutics, Inc Announces Novel Lipid Nanoparticles Built On POZ Platform Serina Therapeutics, Inc. announced that Serina Therapeutics Chief Development Officer, Randall Moreadith, MD, PhD, will be presenting at the 5th LNP Formulation & Process Development Summit in Boston, MA. Entitled "Novel Lipid Nanoparticles Built Entirely on a POZ Platform", Dr. Moreadith will present data demonstrating the POZ-lipid in Serina’s platform failed to elicit an antibody response to the polymer in a vaccine format in the rat. The standard PEG-lipid in most LNP formulations elicits a prompt IgM and IgG response and has been shown to be associated with serious adverse events in some individuals. The Serina LNP Laboratory is also advancing an additional replacement strategy targeting ionizable lipids, another essential LNP component that has been implicated in safety concerns. Preliminary results from Serina’s studies of a novel polymer-lipid designed to bind a broad range of oligonucleotide payloads will also be featured in the presentation, underscoring the company’s commitment to improving both the safety and versatility of LNP-based therapeutics. Announcement • Feb 20
Serina Therapeutics, Inc. Announces First Patient Enrolled in Phase 1b Registrational Trial of Ser-252 for Advanced Parkinson's Disease Serina Therapeutics, Inc. announced that the first patient has been enrolled in the Company's Phase 1b registrational trial evaluating SER-252 in patients with advanced Parkinson's disease. The Phase 1b registrational study is designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of SER-252 in patients with Advanced Parkinson's disease whose symptoms are inadequately controlled by current standard-of-care therapies. The Company plans to provide further updates on the trial as patient enrollment progresses. Announcement • Jan 29
Serina Therapeutics, Inc. Announces FDA Clearance of IND Application for Ser-252 for the Treatment of Advanced Parkinson's Disease Serina Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has cleared its Investigational New Drug (IND) application for SER-252, an investigational therapy for advanced Parkinson's disease. The IND clearance allows Serina to proceed with regulatory and site-level activities to support initiation of a planned Phase 1b registrational clinical study evaluating SER-252 in patients with advanced Parkinson's disease. Announcement • Jan 16
Serina Therapeutics, Inc. Receives Non-Compliance Notice from Nasdaq Regarding Minimum Stockholders’ Equity Requirements On January 9, 2026, Serina Therapeutics, Inc. (the “Company”) received a notification (the “Letter”) from The NYSE American LLC (the “NYSE American”) stating that the Company is not in compliance with the minimum stockholders’ equity requirements of Sections 1003(a)(i), 1003(a)(ii), and 1003(a)(iii) of the NYSE American Company Guide (the “Company Guide”) requiring stockholders’ equity of (i) $2.0 million or more if the Company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years, (ii) $4.0 million or more if the Company has reported losses from continuing operations and/or net losses in three of the four most recent fiscal years and (iii) $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years, respectively. As of September 30, 2025, the Company had stockholders’ equity of $1.6 million and has had losses in three of its four most recent fiscal years ended December 31, 2024. The Company is now subject to the procedures and requirements of Section 1009 of the Company Guide. The Company has until February 8, 2026 to submit a plan (the “Plan”) of actions it has taken or will take to regain compliance with the continued listing standards by July 9, 2027, which is eighteen months from receipt of the Letter (“Cure Period”). The Company intends to submit the Plan to regain compliance with NYSE American listing standards, however there can be no assurance that the Company will be able to achieve compliance with such standards within the Cure Period. If the NYSE American accepts the Plan, the Company will be able to continue its listing during the Cure Period and will be subject to periodic reviews including quarterly monitoring for compliance with the Plan until it has regained compliance. If the Plan is not accepted by the NYSE American, the Letter states that delisting proceedings will commence. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide. The notice has no immediate impact on the listing of the Company’s shares of common stock, which will continue to be listed and traded on the NYSE American, subject to the Company’s compliance with the other listing requirements of the NYSE American. The notice does not affect the Company’s ongoing business operations or its reporting requirements with the Securities and Exchange Commission. Announcement • Dec 12
Serina Therapeutics, Inc. Announces Appointment of Joshua Thomas as Head of Chemistry Serina Therapeutics, Inc. announced the appointment of Joshua Thomas, Ph.D., as Head of Chemistry. He will oversee internal and external chemistry efforts to optimize POZ-based candidates, supporting efficient translation from discovery through development. Prior to joining Serina, Dr. Thomas served in progressive scientific leadership roles at Mersana Therapeutics, where during his 13 years he played a pivotal part in building out their discovery chemistry capabilities. Notably, he played a key role in the development of a novel STING agonist ADC platform. He has led groundbreaking research programs in antibody drug conjugate (ADC) technologies, focused on developing innovative “warhead” and linker elements that have advanced multiple platforms into clinical trials. His expertise encompasses both developing cytotoxic payloads with novel mechanisms of action and designing complex bioconjugation systems for targeted cancer therapies. Dr. Thomas earned his Ph.D. in Medicinal Chemistry from the University of Florida and completed postdoctoral training in cancer research at the National Cancer Institute. He holds a B.S. in Chemistry from Wingate University. Over his career, he has contributed to multiple development candidates, patents, and publications spanning small molecules and conjugate-based modalities. His experience integrating cutting-edge chemistry with translational objectives aligns with Serina’s strategy of building a sustainable discovery and development engine for polymer-enabled therapeutics. Announcement • Dec 11
Serina Therapeutics, Inc. Submits Complete Response to FDA Clinical Hold Letter for Ser-252 Program Serina Therapeutics, Inc. announced that it has submitted a complete response to the U.S. Food and Drug Administration's clinical hold letter for SER-252, the Company's lead program for advanced Parkinson's disease. As previously disclosed, the FDA placed the Company's Investigational New Drug application for SER-252 on clinical hold pending additional information related to a commonly used formulation excipient. On November 25, 2025, the FDA issued a formal full clinical hold letter specifying the information required to permit initiation of the planned Phase 1b registrational study, SER-252-1b. The issues identified by the FDA do not relate to the apomorphine active drug substance, its mechanism of action, the use of the enFuse device (Enable Injections) or the broader 505(b)(2) NDA development pathway previously discussed with the Agency. Initiation of the SAD phase of the SER-252-1b trial is anticipated to begin in First Quarter 2026. While dosing cannot begin until the clinical hold is lifted, Serina continues site start-up and regulatory activities in Australia and other regions as part of the global registrational program. In Australia, early interactions with investigators and the Parkinson's community have helped build strong support for the trial design and its potential to address unmet needs in advanced disease. The Company now expects first-patient-in ("FPI") in First Quarter 2026, subject to timely resolution of the clinical hold and customary regulatory and ethics approvals. Announcement • Nov 03
Serina Therapeutics, Inc. Provides Regulatory Update on Ser-252 Program Serina Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has placed a clinical hold on the Company's Investigational New Drug (IND) application for SER-252, Serina's lead development program for advanced Parkinson's disease. The FDA has requested additional information related to a commonly used excipient in the formulation. The feedback does not relate to the active drug substance or its proposed mechanism of action. Serina intends to work expeditiously with the FDA to address the requests. Serina expects to receive the FDA's formal clinical-hold letter within 30 days and will provide an update once it has aligned with the FDA on next steps and timelines. In prior interactions, the FDA indicated support for Serina's development approach for SER-252 under a 505(b)(2) NDA pathway. Regulatory feedback of this kind is a normal and constructive part of responsible drug development. The team has full confidence as they work closely with the FDA to address its comments. Dose escalation will be overseen by a Safety Review Committee and the study will be conducted across sites in the U.S. and Australia. SER 252 is an investigational apomorphine therapy developed with Serina's POZ platform and designed to provide continuous dopaminergic stimulation (CDS) via a single or twice-weekly subcutaneous injection. CDS has been shown to reduce the severity of motor fluctuations (which includes levodopa-induced dyskinesia) and enable greater daily on time, with reduced off time, in advanced Parkinson's patients. SER-252 leverages strategic partner Enable Injections' enFuse™? wearable drug delivery platform to enhance patient comfort and convenience, providing CDS to patients via an easy-to-administer, long-acting subcutaneous injection. About the POZ Platform™? Serina's proprietary POZ technology is based on a synthetic, water soluble, low viscosity polymer called poly (2-oxazoline). Serina's POZ platform delivery technology has potential for use across a broad range of payloads and indications. Announcement • Oct 08
Serina Therapeutics Launches Enhanced Corporate Communications Platform to Strengthen Engagement with Patients, Clinicians, and Investors Serina Therapeutics, Inc. announced the launch of a comprehensive corporate communications platform designed to deliver timely, transparent updates to patients, clinicians, investors, and the broader scientific community. The new initiative expands Serina's direct channels of communication to provide stakeholders with clear, accessible information on the Company's programs, regulatory progress, and scientific advances. The platform will feature regular digital updates, educational resources, multimedia content, and expert commentary from company leadership and scientific advisors. As part of the initiative, Serina plans to provide: Program and clinical updates delivered through the Company's website and newsletters; Educational resources for physicians, patients, and scientists to better understand the potential of POZ-enabled therapeutics in improving therapeutic performance across multiple modalities; Multimedia content, including a new podcast series, to highlight perspectives from company leaders, investigators, and thought leaders in neuroscience and other therapeutic areas; Opportunities for engagement, including webinars and online forums to support dialogue with patient and professional communities. This platform is designed to complement Serina's ongoing clinical and regulatory activities, providing stakeholders with real-time access to relevant information as the Company advances its pipeline. Announcement • Sep 11
Serina Therapeutics, Inc. announced that it expects to receive $20 million in funding Serina Therapeutics, Inc. announced that it has entered into an agreement to issue unsecured convertible note and warrants for gross proceeds of $20,000,000 on September 9, 2025. The transaction is led by Greg Bailey. The notes will be convertible into common share at conversion price of $5.18 per share. The notes accrue interest at the rate of 10%, payable quarterly after the first year. The notes will mature five year from initial funding. The warrant exercise price is of $5.44. Warrants expire upon the earlier of 60 days following achievement of phase 1b first patient dosing in Cohort 2 or September 30, 2026. The unsecured convertible notes will be issued in five tranches. The company will issue convertible notes for proceeds of $5,000,000 in its first tranche on or before October 1, 2025. The company will issue convertible notes for proceeds of $2,500,000 in its second tranche upon enrollment of phase 1b first patient on or after December 15, 2025. The company will issue convertible notes for proceeds of $2,500,000 in its third tranche upon enrollment of phase 1b second patient. The company will issue convertible notes for proceeds of $5,000,000 in its fourth tranche upon dosing of phase 1b last patient in Cohort 1 on or after March 15, 2026. The company will issue convertible notes for proceeds of $5,000,000 in its fifth tranche upon dosing of phase 1b first patient in Cohort 2 on or after April 30, 2026. Announcement • Aug 26
Serina Therapeutics, Inc. Announces FDA Feedback Supports Registrational Trial Design of Ser-252 in Advanced Parkinson's Disease Under 505(b)(2) NDA Pathway Serina Therapeutics, Inc. announced that following a recent Type B meeting with the U.S. Food and Drug Administration (FDA), the FDA's written feedback supports advancing SER-252 (POZ-apomorphine) in a registrational clinical study program in advanced Parkinson's under the 505(b)(2) NDA pathway. In its discussions with the FDA, Serina outlined a program designed to leverage prior knowledge of apomorphine utilizing the company's POZ-enabled profile. Serina plans to include a pharmacokinetic (PK) bridging component to an approved apomorphine product, consistent with a 505(b)(2)NDA strategy. The FDA's feedback indicates that SER-252's initial study may be designed and conducted as a component of a registrational trial program, subject to standard clinical and nonclinical requirements and finalization of documentation at the time of IND submission. Serina plans to submit the U.S. IND application in Fourth Quarter 2025 incorporating the FDA's recommendations. In parallel, the company expects to begin dosing patients in Australia in Fourth Quarter 2025 as part of the global registrational program, with data from these patients expected to contribute to the overall data package for regulatory review and potential approval. Dose escalation will be overseen by a Safety Review Committee and the study will be conducted across sites in the U.S. and Australia. SER 252 is an investigational apomorphine therapy developed with Serina's POZ platform and designed to provide continuous dopaminergic stimulation (CDS) via a single or twice-weekly subcutaneous injection. CDS has been shown to reduce the severity of motor fluctuations (which includes levodopa-induced dyskinesia) and enable greater daily on time, with reduced off time, in advanced Parkinson's patients. SER-252 leverages strategic partner Enable Injections' enFuse™? wearable drug delivery platform to enhance patient comfort and convenience, providing CDS to patients via an easy-to-administer, long-acting subcutaneous injection. Announcement • Jul 29
Serina Therapeutics Advances POZ-VMAT2i into Development for Tardive Dyskinesia (TD) Serina Therapeutics, Inc. announced the advancement of its novel product candidate, SER-270, a proprietary POZ-conjugated vesicular monoamine transporter 2 (VMAT2) inhibitor in development for the treatment of tardive dyskinesia (TD). SER-270, also referred to as POZ-VMAT2i, leverages Serina's proprietary POZ polymer technology to enable long-acting, once weekly subcutaneous administration, offering a potentially transformative alternative to existing oral VMAT2 inhibitors. The candidate is designed to meet the needs of underserved TD patients who struggle with daily medication adherence, including those already managed with long-acting injectable (LAI) antipsychotics. Addressing Significant Unmet Needs in TD: A Large and Under-Treated Market: TD is a disabling and often stigmatizing movement disorder caused by long-term exposure to antipsychotic medications. It predominantly affects those with chronic psychiatric conditions such as schizophrenia and bipolar disorder who may have difficulty adhering to complex daily medication regimens. While oral VMAT2 inhibitors are the only approved class for TD, uptake remains modest due to underdiagnosis, low disease awareness among clinicians, and the challenges of ensuring daily medication adherence in complex, high-risk populations. It is estimated that fewer than 30% of U.S. TD patients are diagnosed, and less than half of those receive pharmacologic treatment. Despite these challenges, the U.S. TD market exceeded $3.7 billion in sales in 2024, driven by increased recognition and broader reimbursement. Analysts project the market to grow to $5.4 billion by 2030, underscoring the significant opportunity for differentiated therapies that address adherence, access, and administration barriers.POZ-VMAT2i is uniquely positioned to address these barriers by offering: Once-weekly, long-acting injectable administration, critical for patients non-compliant with daily oral medications, including those currently managed with long-acting injectability (LAI) antipsychotic inhibitors. Improved access for institutionalized patients, where daily oral therapy poses logistical challenges for nursing and care staff. A non-oral solution for patients with dysphagia (chewing/swallowing difficulties), a common complication among elderly and neurologically impaired individuals. Serina also plans to explore development of POZ-VMAT2 i for chorea associated with Huntington's disease, a neurodegenerative disorder marked by progressive movement impairment and often, serious swallowing difficulties. A weekly injectable therapy may offer meaningful advantages over current oral options for this population and their caregivers. Announcement • Jul 02
Serina Therapeutics, Inc., Annual General Meeting, Nov 07, 2025 Serina Therapeutics, Inc., Annual General Meeting, Nov 07, 2025. Announcement • Apr 28
Serina Therapeutics, Inc. has filed a Follow-on Equity Offering in the amount of $13.2705 million. Serina Therapeutics, Inc. has filed a Follow-on Equity Offering in the amount of $13.2705 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Apr 09
Serina Therapeutics, Inc. announced that it has received $4.999995 million in funding Serina Therapeutics, Inc. announced a private placement and issued 965,250 shares of convertible preferred stock at an issue price of $5.18 per share for gross proceeds of $4,999,995 on April 7, 2025. The company received financing from strategic shareholders. Announcement • Feb 13
Serina Therapeutics Announces Board Changes Serina Therapeutics, Inc. announced the appointment of Jay Venkatesan, MD, MBA, to its Board of Directors. Dr. Venkatesan brings deep expertise in biotechnology investment, company building, and strategic growth, having successfully led and advised multiple biopharma companies through pivotal stages of development, including high-profile mergers and acquisitions. Dr. Venkatesan most recently served as Chairman, President, and CEO of Angion Biomedica until its merger with Elicio Therapeutics in 2023. He currently serves as a Board Director at Elicio Therapeutics. Previously, he was President and Board Director of Alpine Immune Sciences, which he co-founded as a Managing Partner of Alpine BioVentures. Dr. Venkatesan has a distinguished career spanning investment and operational leadership roles. Before Alpine, he founded and managed Ayer Capital, a global healthcare investment fund. Earlier in his career, he was a director at Brookside Capital, a division of Bain Capital, where he co-managed healthcare investments. He also held roles as a venture investor with Patricof & Co. Ventures (now Apax Partners) and as a consultant at McKinsey & Co.Dr. Venkatesan holds an M.D. from the University of Pennsylvania School of Medicine and an M.B.A. from the Wharton School of the University of Pennsylvania. He earned his B.A. from Williams College. Serina’s co-founder, Dr. Milton Harris, will assume the role of Director Emeritus and will serve as Chair of the company’s Scientific Advisory Board (SAB). Dr. Harris has played an instrumental role in the development of Serina’s POZ Platform, providing leadership and scientific expertise that have shaped the company’s pipeline and clinical development. In his new role, he will provide continued guidance to Serina’s research and development efforts. Announcement • Feb 04
Serina Therapeutics, Inc. announced that it has received $10 million in funding On February 3, 2025, Serina Therapeutics, Inc closed the transaction. The company issued 500,000 shares at an issue price of $10 per share for the gross proceeds of $5,000,000 in first tranche. Announcement • Jan 15
Serina Therapeutics, Inc. Appoints Karen J. Wilson to its Board of Directors Serina Therapeutics, Inc. announced the appointment of Karen J. Wilson to the Board of Directors. Ms. Wilson brings over three decades of leadership experiences in the life sciences sector. She currently serves as a board director for Connect Biopharma Holdings Limited, Elicio Therapeutics, Inc. and LAVA Therapeutics N.V. Previously, she held the position of Senior Vice President of Finance at Jazz Pharmaceuticals plc, where she also served as Principal Accounting Officer and Vice President of Finance. Prior to joining the Jazz Pharmaceuticals organization in February 2011, she held senior finance roles at PDL BioPharma, ViroLogic, and Novare Surgical Systems and was a consultant and auditor for Deloitte & Touche LLP. Ms. Wilson is a Certified Public Accountant and received a B.S. in Business from the University of California, Berkeley. Serina also announced the departure of Steven Mintz from its Board of Directors. Announcement • Dec 27
JuvVentures (UK) Limited acquired UniverXome Bioengineering, Inc. from Serina Therapeutics, Inc. (NYSEAM:SER) for $11.2 million. JuvVentures (UK) Limited acquired UniverXome Bioengineering, Inc. from Serina Therapeutics, Inc. (NYSEAM:SER) for $11.2 million on December 23, 2024. The aggregate purchase price for the Shares shall be $10. As consideration for the purchase of UniverXome, Juvenescence assumed approximately $11.2 million of secured debt owed by UniverXome to Juvenescence in addition to a nominal cash payment. On December 23, 2024 , the Special Committee approved the execution and delivery by the Company of the Stock Purchase Agreement and the related transactions, including for purposes of the Company’s Related Person Transaction Policy.
Jacqueline Mercier of Goodwin Procter LLP acted as legal advisor for JuvVentures Limited. Scott Ludwig of Bradley Arant Boult Cummings LLP acted as legal advisor for Serina Therapeutics, Inc.
JuvVentures (UK) Limited completed the acquisition of UniverXome Bioengineering, Inc. from Serina Therapeutics, Inc. (NYSEAM:SER) on December 23, 2024. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: US$0.16 (vs US$0.78 in 3Q 2023) Third quarter 2024 results: EPS: US$0.16 (down from US$0.78 in 3Q 2023). Revenue: US$14.0k (down 53% from 3Q 2023). Net income: US$1.41m (down 20% from 3Q 2023). Announcement • Nov 04
Serina Therapeutics, Inc., Annual General Meeting, Dec 13, 2024 Serina Therapeutics, Inc., Annual General Meeting, Dec 13, 2024. Recent Insider Transactions • Sep 23
Director recently bought €79k worth of stock On the 19th of September, Gregory Bailey bought around 14k shares on-market at roughly €5.51 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €127k. Insiders have collectively bought €703k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 20
Director recently bought €54k worth of stock On the 15th of August, Steven Mintz bought around 9k shares on-market at roughly €6.00 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €111k. Insiders have collectively bought €449k more in shares than they have sold in the last 12 months. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: US$0.61 (vs US$0.37 in 2Q 2023) Second quarter 2024 results: EPS: US$0.61 (up from US$0.37 in 2Q 2023). Revenue: US$51.0k (up US$44.0k from 2Q 2023). Net income: US$5.20m (up US$4.40m from 2Q 2023). Announcement • Jul 19
Serina Therapeutics, Inc. Announces the Appointment of Dr. Srini Tenjarla as the New Senior Vice President of CMC (Chemistry, Manufacturing, and Controls) and Formulation Serina Therapeutics, Inc. announced the appointment of Dr. Srini Tenjarla as the new Senior Vice President of CMC (Chemistry, Manufacturing, and Controls) and Formulation. Dr. Tenjarla brings over 20 years of extensive experience in drug development to Serina. Dr. Tenjarla joins Serina Therapeutics from Takeda Pharmaceuticals, where he served as Vice President and Head of Drug Product Development and Process Chemistry Development/Outsourcing in Pharmaceutical Sciences. In this role, he provided technical and strategic leadership to global teams, overseeing phase-appropriate development from Phase 1 through product validation and PAI readiness. Prior to his tenure at Takeda, Dr. Tenjarla held several leadership roles at Shire Pharmaceuticals, culminating in his position as Vice President of Pharmaceutical Sciences. Dr. Tenjarla has a proven track record in advancing programs through clinical phases to NDA/BLA submission and approval. Throughout his career, Dr. Tenjarla has demonstrated expertise in formulation development across multiple modalities, including solid oral, injectables, controlled release, and ophthalmic formulations. He has led numerous global cross-functional teams and collaborated with CDMOs in Europe, the USA, China, India, and Japan. His contributions include setting up Preferred Vendor Networks and working closely with device and quality groups for combination product programs. Dr. Tenjarla holds a Ph.D. in Pharmaceutical Sciences from the University of Houston and a Bachelor of Science in Pharmacy from Andhra University. He is a recognized subject matter expert in formulation, with extensive experience managing programs, formulation, drug substance, analytical, and regulatory interactions. Recent Insider Transactions • Jun 28
Director recently bought €66k worth of stock On the 25th of June, Steven Mintz bought around 8k shares on-market at roughly €8.72 per share. This transaction amounted to 48% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth €111k. Insiders have collectively bought €354k more in shares than they have sold in the last 12 months. New Risk • May 27
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$4.3m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-US$4.3m). Minor Risks Revenue is less than US$5m (US$3.1m revenue). Market cap is less than US$100m (€76.3m market cap, or US$82.8m). Recent Insider Transactions • May 24
Director recently bought €111k worth of stock On the 21st of May, Steven Mintz bought around 12k shares on-market at roughly €8.99 per share. This transaction increased Steven's direct individual holding by 4x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €125k more in shares than they have sold in the last 12 months. Board Change • May 20
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. 3 experienced directors. No highly experienced directors. No independent directors (7 non-independent directors). Director Remy Gross is the most experienced director on the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. 
