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. In the competitive landscape, Clearside competes with other biopharmaceutical companies like Cidara Therapeutics, Selecta Biosciences, vTv Therapeutics, and Corvus Pharmaceuticals.
Clearside Biomedical's ROIC is -177.13%, which is significantly lower than its WACC of 17.35%. This negative ROIC indicates that the company is not generating positive returns on its invested capital. The ROIC to WACC ratio of -10.21 further highlights that Clearside's returns are well below its cost of capital, suggesting inefficiencies in capital utilization.
In comparison, Cidara Therapeutics has a ROIC of -46.99% and a WACC of 10.99%, resulting in a ROIC to WACC ratio of -4.27. While still negative, Cidara's ratio is less severe than Clearside's, indicating relatively better 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 positive ratio suggests that Selecta is generating returns closer to its cost of capital, making it the best performer in this peer group. Meanwhile, vTv Therapeutics and Corvus Pharmaceuticals also show negative ROIC to WACC ratios of -19.61 and -7.99, respectively, indicating challenges in generating returns above their cost of capital.
