Are there any risks or uncertainties highlighted in the preliminary results that could affect future performance?
Risks & uncertainties in the Q2‑2025 preliminary results
The press release is largely a “pre‑release” of the company’s earnings, which means it contains the usual forward‑looking language that flags several material risks. First, Nyxoah still depends heavily on the continued progress of its pipeline‑clinical programs—any delay or negative data from ongoing trials would immediately pressure the stock, as the firm’s valuation is still anchored to future regulatory approvals and commercial launch timelines. Second, the company disclosed a widening cash‑burn rate versus the prior quarter, underscoring a need for additional financing. If capital‑raising efforts are met with tighter market conditions or a higher cost of equity, liquidity could become a constraint and force a slowdown in R&D spend. Finally, the preliminary nature of the results means that the figures are not yet audited; any material adjustments when the full results are filed could trigger volatility, especially if revenue or expense line‑items deviate from analyst expectations.
Trading implications
From a technical standpoint, NYXH has been trading in a tight range around its 52‑week low, with the price hovering near a key support level at $0.45 and a descending trendline that has been tested three times in the past two months. The added uncertainty from the cash‑burn and trial‑risk narrative increases the probability of a downside break, making a short‑position or a protective put option attractive for risk‑averse investors. Conversely, if the company can demonstrate a clear path to de‑risk its pipeline (e.g., positive interim data) and secure a financing bridge, the stock could rebound toward the $0.55–$0.60 resistance zone, offering a short‑term buying opportunity on a bounce‑back. In short, monitor any forthcoming updates on trial outcomes and financing announcements; a confirmed de‑risking catalyst would justify a bullish tilt, while further cash‑flow strain or trial setbacks would likely trigger a continued downtrend.