POZ-apomorphine's 505(b)(2) path through Phase 1b hinges on whether early PK/motor signals replicate at therapeutic doses before a thin cash position forces another raise

Serina is an early-stage company developing a subcutaneous apomorphine formulation for advanced Parkinson's disease patients, and the lead product is not yet approved.

Serina is developing SER-252, a polymer-conjugated apomorphine formulation, as a subcutaneous treatment for advanced Parkinson's disease patients who lose motor control between doses. FDA has confirmed a capital-efficient 505(b)(2) NDA pathway, and Cohort 1 Phase 1b data showed sustained apomorphine exposure and exploratory motor improvements, though these are Phase 1 observations, not efficacy proof. With roughly $23M cash and a $6.5M quarterly burn, the company has approximately three quarters of runway before Phase 2b/3 initiation, making continued dilutive financing a near-certainty and the single sharpest structural risk.