Core Viewpoint - The stock price of Brain Regeneration Technology has experienced a significant drop of 40% after a previous surge, raising concerns about the company's financial health and operational capabilities [4][5]. Company Overview - Brain Regeneration Technology is an early-stage biotechnology company focused on researching, developing, and commercializing traditional Chinese medicine for treating neurocognitive disorders, particularly ADHD and ASD [7]. - The company was founded in 2014 in Hong Kong and currently has only 12 employees [8]. Recent Developments - On June 20, 2025, the stock price fell to $38.01 per share, resulting in a total market capitalization of $18.8 billion (approximately 134.98 billion RMB) [4]. - Prior to the drop, the company announced that its next-generation neuro-regulation chip received FDA clinical trial approval and will collaborate with the Mayo Clinic to conduct research on Parkinson's disease, targeting a market of approximately 10 million patients [4][5]. Stock Performance - The stock price had previously surged over 4 times, with a closing increase of over 283% on June 16, 2025, and a year-to-date increase of nearly 500 times [4][5]. - The stock's volatility is highlighted by a maximum drawdown of 69.57% [5]. Financial Performance - Brain Regeneration Technology has not generated any revenue from product sales and has reported continuous losses in its financial statements [10]. - For the fiscal year ending June 30, 2024, the company reported total expenses of 473.67 million, resulting in a net loss of 430.18 million, which represents a 26.73% increase in losses compared to the previous year [11]. Ownership Structure - As of the first quarter of 2025, the largest shareholder is Yat-Gai Au, who holds an 86.24% stake in the company [12].