UltraGreen.ai’s big slump: Was it the Singapore market that failed the company, or vice versa?
August 23, 2026 / /
Companies seeking to be priced on their potential must adopt a culture of transparency and meaningful engagement
[SINGAPORE] During the National Day weekend, an independent analyst named Jamal Aliyev sent an e-mail to some of my colleagues and me to draw our attention to research he had just published about UltraGreen.ai.
Aliyev had identified two companies – Zydus Lifesciences and Provepharm – that may soon begin competing with UltraGreen.ai in the supply of indocyanine green (ICG) dye in the United States.
He also pointed out that UltraGreen.ai had made no disclosures about the recent regulatory approvals these potential competitors had obtained in that key market.
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