Impact Biomedical (IBO) risk factors

The risk section is entirely dominated by potential delisting from the NYSE American and its consequences. Delisting would impair stock liquidity, trigger penny stock restrictions, and complicate compliance with state securities laws for private placements and warrant exercises.

The company faces heavy reliance on unproven drug candidates and clinical analytics services with zero revenue and ongoing operating losses. Operations depend entirely on third-party manufacturing, collaborative research agreements, and securing additional outside funding. Intellectual property protection and FDA regulatory approval are critical existential factors for commercialization.