👉 Momentum doesn’t die from bad science. It dies from regulatory surprises. In early-stage biotech, regulatory risk is the fastest way to lose investor confidence . Yet most founders stay focused on preclinical data, proof of concept, and technical milestones. Investors, on the other hand, are scanning for predictability, compliance, and clarity . And when those signals are missing, even a brilliant scientific program can stall. 👉 Trust erodes quietly, and the runway disapp