Neutral/Negative Catalysts
- Primary trend remains bearish (downward MA stack), meaning rallies can fail quickly.
- Insiders are selling, and selling increased ~113% over the last month (not supportive of a “buy now” call).
- Fundamental profitability pressure: net losses widened YoY and gross margin declined.
- Sector/backdrop: analyst commentary references steep declines across the aesthetic injectables category in 2025, implying a tougher demand environment.
- No news/catalysts in the last week to justify an immediate re-rating.