Clearside Biomedical, Inc. (NASDAQ:CLSD) is a biopharmaceutical company focused on developing therapies to treat eye diseases. The company uses its proprietary SCS Microinjector to deliver drugs to the back of the eye, aiming to improve treatment outcomes for patients. In the competitive landscape, Clearside faces peers like Cidara Therapeutics, Leap Therapeutics, Selecta Biosciences, vTv Therapeutics, and Corvus Pharmaceuticals.
Clearside Biomedical's ROIC is -177.13%, which is significantly negative. This indicates that the company is not generating returns on its invested capital. With a WACC of 17.02%, the cost of capital is high, and the ROIC to WACC ratio of -10.40 highlights that the company's returns are far below its capital costs. This is a red flag for investors.
In comparison, Cidara Therapeutics has a ROIC of -25.45% and a WACC of 9.65%, resulting in a ROIC to WACC ratio of -2.64. While still negative, Cidara's figures are less severe than Clearside's, suggesting a slightly better capital utilization. Leap Therapeutics, however, shows a ROIC of -1170.57% with a WACC of 4.51%, leading to a ROIC to WACC ratio of -259.41, indicating even worse capital efficiency.
Selecta Biosciences stands out with a positive ROIC of 6.80% and a WACC of 8.38%, resulting in a ROIC to WACC ratio of 0.81. This suggests that Selecta is generating returns closer to its cost of capital, making it the most efficient among its peers. In contrast, vTv Therapeutics and Corvus Pharmaceuticals also show negative ROICs, with ratios of -12.77 and -6.74, respectively, indicating poor capital utilization.
