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 faces peers like Cidara Therapeutics, Leap Therapeutics, Selecta Biosciences, vTv Therapeutics, and Corvus Pharmaceuticals.
Clearside Biomedical's ROIC is -177.13%, which is significantly lower than its WACC of 16.79%. This indicates that the company is not generating sufficient returns on its invested capital to cover its cost of capital. The ROIC to WACC ratio of -10.55 further highlights this inefficiency.
In comparison, Cidara Therapeutics has a ROIC of -25.45% and a WACC of 9.41%, resulting in a ROIC to WACC ratio of -2.71. While still negative, Cidara's figures are less severe than Clearside's, suggesting a relatively better capital efficiency.
Leap Therapeutics presents a more challenging scenario with a ROIC of -341.79% against a WACC of 4.77%, leading to a ROIC to WACC ratio of -71.66. This indicates a significant gap between returns and capital costs, even more pronounced than Clearside's.
Selecta Biosciences is the outlier with a positive ROIC of 11.74% and a WACC of 8.38%, resulting in a ROIC to WACC ratio of 1.40. This suggests that Selecta is effectively generating returns that exceed its cost of capital, unlike Clearside and most of its peers.
