👉 Most biotech founders do not realize they are in trouble when the money runs out. By then, the situation is already decided. 👉 The real issue begins earlier, at a point where the company is still operating, the science is progressing, and milestones are being met. On paper, things look fine. In reality, something more subtle starts to shift. 👉 Decision-making changes. Plans that once felt flexible start to feel constrained. Conversations move from options to assumption