Viracta Therapeutics, Inc. (VIRX): Business Model Canvas

In der hochmodernen Welt der Präzisionsonkologie entwickelt sich Viracta Therapeutics (VIRX) zu einem bahnbrechenden Biotech-Unternehmen, das die Behandlung von Krebserkrankungen, die mit dem Epstein-Barr-Virus (EBV) in Zusammenhang stehen, revolutioniert. Durch die Nutzung seiner innovativen Precise Targeted Therapy (PTT)-Plattform ist dieses dynamische Unternehmen bereit, die Art und Weise, wie wir mit schwierigen virusassoziierten Malignomen umgehen, zu verändern und Patienten und Ärzten gleichermaßen Hoffnung durch bahnbrechende Therapiestrategien zu geben, die gezielte, potenziell weniger invasive Behandlungsmöglichkeiten versprechen.

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit akademischen Forschungseinrichtungen

Viracta Therapeutics hat Forschungspartnerschaften mit folgenden akademischen Institutionen aufgebaut:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Universität von Kalifornien, San Diego	Epigenetische Therapieforschung	2018
MD Anderson Krebszentrum	Entwicklung klinischer Studien	2020

Partnerschaft mit Pharmaunternehmen zur Arzneimittelentwicklung

Zu den aktuellen pharmazeutischen Kooperationen gehören:

• Lizenzvereinbarung mit Ignyta Inc. für gezielte Therapeutika
• Forschungskooperation mit Merck & Co. für die Entwicklung einer Kombinationstherapie

Mögliche Lizenzvereinbarungen für Therapeutika im klinischen Stadium

Viracta Therapeutics führt aktive Lizenzverhandlungen für die folgenden therapeutischen Kandidaten:

Therapeutischer Kandidat	Potenzieller Partner	Aktuelle Phase
Nanovirizide	Vertraulicher Pharmapartner	Diskussionen der Phase 2
Präzisions-Onkologieplattform	Mehrere potenzielle Lizenzpartner	Verhandlungen im Frühstadium

Kooperationen mit Netzwerken für klinische Studien und Forschungszentren

Aktive Netzwerkpartnerschaften für klinische Studien:

• Kooperative Forschungsgruppe des National Cancer Institute (NCI).
• SWOG-Krebsforschungsnetzwerk
• Eastern Cooperative Oncology Group (ECOG)

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Hauptaktivitäten

Entwicklung neuartiger antiviraler Therapien gegen EBV-assoziierte Krebsarten

Viracta Therapeutics konzentriert sich auf die Entwicklung gezielter Therapien für bösartige Erkrankungen, die mit dem Epstein-Barr-Virus (EBV) in Zusammenhang stehen. Ab 2024 ist Nana-val (Nanatinostat), ein Histondeacetylase (HDAC)-Inhibitor, der wichtigste therapeutische Kandidat des Unternehmens.

Therapeutischer Fokus	Aktueller Status	Zielanzeige
Nana-val	Klinisches Stadium	EBV-assoziierte Lymphome

Durchführung präklinischer und klinischer Forschung

Die Forschungsanstrengungen des Unternehmens konzentrieren sich auf die Entwicklung innovativer Therapieansätze für EBV-assoziierte Malignomen.

• Laufende klinische Studien für Nana-val bei mehreren EBV-assoziierten Krebsarten
• Präklinische Forschung, die auf spezifische EBV-bezogene molekulare Signalwege abzielt
• Kollaborative Forschung mit akademischen und medizinischen Einrichtungen

Forschungskategorie	Anzahl aktiver Studien	Forschungsphase
Klinische Studien	2-3 aktive Versuche	Phase 1/2
Präklinische Forschung	Mehrere laufende Projekte	Explorativ

Weiterentwicklung proprietärer Therapieplattformen

Viracta Therapeutics entwickelt seine einzigartige Therapieplattform für EBV-positive Malignome weiter.

• Proprietäre Screening-Technologien
• Molekulare Targeting-Strategien
• Fortgeschrittene Methoden zur Arzneimittelentdeckung

Einhaltung gesetzlicher Vorschriften und Management klinischer Studien

Das Unternehmen hält die regulatorischen Anforderungen für die Arzneimittelentwicklung und klinische Studien strikt ein.

Regulatorische Interaktion	Häufigkeit	Aufsichtsbehörden
FDA-Kommunikation	Vierteljährlich	US-amerikanische Lebensmittel- und Arzneimittelbehörde
Aufsicht über klinische Studien	Kontinuierlich	Mehrere institutionelle Prüfungsausschüsse

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Schlüsselressourcen

Proprietäre PTT-Plattform (Precise Targeted Therapy).

Die wichtigste proprietäre Plattform von Viracta konzentriert sich auf virusassoziierte Krebsarten mit spezifischen Targeting-Mechanismen.

Plattformcharakteristik	Spezifische Details
Technologiefokus	Auf das Epstein-Barr-Virus (EBV) gerichtete Therapeutika
Entwicklungsphase	Plattform für Präzisionsonkologie im klinischen Stadium
Patentanmeldungen	5 aktive Patentfamilien ab 2023

Portfolio für geistiges Eigentum

Viracta unterhält ein strategisches Portfolio an geistigem Eigentum im Bereich virusassoziierter Krebsbehandlungen.

• 5 Patentfamilien, die therapeutische Ansätze abdecken
• Konzentriert sich auf EBV-assoziierte maligne Erkrankungen
• Beinhaltet Patente zur Stoffzusammensetzung und Behandlungsmethode

Wissenschaftliche und forschungsbezogene Expertise

Das Unternehmen nutzt spezielles Fachwissen in der Virologie- und Onkologieforschung.

Forschungsfähigkeit	Quantitative Kennzahlen
Forschungspersonal	12 Ph.D. wissenschaftliches Personal auf Niveau
Forschungspublikationen	23 peer-reviewte Publikationen seit 2018
Erfahrung in der klinischen Forschung	3 laufende klinische Studien, Stand 4. Quartal 2023

Spezialisierte Laboreinrichtungen

Viracta unterhält eine fortschrittliche Forschungsinfrastruktur für die therapeutische Entwicklung.

• 2 spezielle Forschungseinrichtungen in San Diego, Kalifornien
• Gesamtfläche der Forschungseinrichtung: 15.000 Quadratmeter
• Fortschrittliche Laborausrüstung für Molekularbiologie und Virologie

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Wertversprechen

Innovativer Therapieansatz für EBV-assoziierte Malignome

Viracta Therapeutics konzentriert sich auf die Entwicklung gezielter Therapien für bösartige Erkrankungen, die mit dem Epstein-Barr-Virus (EBV) in Zusammenhang stehen. Das primäre Wertversprechen des Unternehmens konzentriert sich auf Nanatinostat, einen Histon-Deacetylase-Hemmer (HDAC).

Therapeutisches Ziel	Aktueller Entwicklungsstand	Potenzielle Patientenpopulation
EBV-assoziierte Lymphome	Klinische Studien der Phase 2	Jährlich etwa 1.500–2.000 Patienten
Peripheres T-Zell-Lymphom	Klinische Forschungsphase	Schätzungsweise 9.000–10.000 neue Fälle pro Jahr

Gezielte Behandlungsmöglichkeiten für schwer behandelbare Krebsarten

Die Therapiestrategie des Unternehmens umfasst einen präzisionsmedizinischen Ansatz mit Kombinationstherapieprotokollen.

• Nanatinostat + Valganciclovir-Kombination
• Gezielte Hemmung EBV-spezifischer molekularer Signalwege
• Mögliche Behandlung für refraktäre Lymphome

Potenzial zur Deckung ungedeckter medizinischer Bedürfnisse bei virusassoziierten Krebsarten

Krebstyp	Aktuelle Behandlungseinschränkungen	Mögliche Auswirkungen von Viracta
EBV-positive Lymphome	Begrenzte gezielte Therapien	Neuartiger Wirkmechanismus
Lymphoproliferative Störungen nach Transplantation	Hoher Behandlungsaufwand	Mögliche geringere Nebenwirkung profile

Präzisionsmedizinischer Ansatz mit reduzierten Nebenwirkungen

Hauptunterscheidungsmerkmale der Therapiestrategie von Viracta:

• Molekulares Targeting von EBV-spezifischen Biomarkern
• Potenzial für geringere systemische Toxizität im Vergleich zur herkömmlichen Chemotherapie
• Personalisierter Behandlungsansatz basierend auf viralen genetischen Markern

Im vierten Quartal 2023 berichtete Viracta über laufende klinische Studien mit Nanatinostat, die eine potenzielle Wirksamkeit bei EBV-assoziierten Malignomen belegen.

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit onkologischen Fachkräften im Gesundheitswesen

Viracta Therapeutics pflegt direktes Engagement durch gezielte medizinische Kommunikationsstrategien:

Engagement-Kanal	Häufigkeit	Zielgruppe
Präsentationen der Onkologie-Konferenz	4-5 pro Jahr	Spezialisten für Hämatologie/Onkologie
Sitzungen des Klinischen Beirats	2-3 pro Jahr	Wichtige Meinungsführer
Eins-zu-eins-Interaktionen zwischen medizinischen und wissenschaftlichen Gesprächspartnern	Laufend	Fachkräfte im Gesundheitswesen im Bereich Onkologie

Patientenunterstützungs- und Aufklärungsprogramme

Patientenzentrierte Unterstützungsinitiativen:

• Personalisierte Ressourcen für Patienteninformationen
• Support-Portal für Teilnehmer an klinischen Studien
• Leitfaden zur finanziellen Unterstützung

Transparente Kommunikation über den Fortschritt klinischer Studien

Kommunikationsmetriken für laufende klinische Studien:

Kommunikationsmethode	Häufigkeit	Plattform
Öffentliche Aktualisierungen klinischer Studien	Vierteljährlich	Unternehmenswebsite
Investorenpräsentationen	2-3 mal jährlich	Investorenkonferenzen
SEC-Einreichungen	Vierteljährlich	SEC EDGAR-Datenbank

Zusammenarbeit in der wissenschaftlichen Gemeinschaft und Wissensaustausch

Kanäle der Forschungskooperation:

• Von Experten begutachtete Veröffentlichungseinreichungen
• Akademische Forschungspartnerschaften
• Teilnahme an wissenschaftlichen Konferenzen

Kollaborative Forschungsmetriken:

Art der Zusammenarbeit	Anzahl aktiver Partnerschaften	Forschungsschwerpunkt
Akademische institutionelle Partnerschaften	3-4	Virusspezifische Therapeutika
Pharmazeutische Forschungskooperationen	1-2	Entwicklung onkologischer Arzneimittel

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Kanäle

Direktvertriebsteam für Onkologiespezialisten

Ab dem vierten Quartal 2023 verfügt Viracta Therapeutics über ein spezialisiertes Vertriebsteam im Bereich Onkologie gezielte Kommunikation mit Fachkräften der Hämatologie und Onkologie.

Vertriebsteam-Metrik	Quantitative Daten
Anzahl der Vertriebsmitarbeiter im Bereich Onkologie	12 engagierte Spezialisten
Geografische Abdeckung	Vereinigte Staaten – primärer Marktfokus
Durchschnittliche Verkaufsgesprächsdauer	45-60 Minuten pro Fachberatung

Medizinische Konferenzen und wissenschaftliche Symposien

Viracta Therapeutics nimmt aktiv an wichtigen Onkologiekonferenzen teil, um Forschung und klinische Entwicklungen vorzustellen.

• Jahrestagung der American Society of Hematology (ASH).
• Konferenz der American Association for Cancer Research (AACR).
• Kongress der European Hematology Association (EHA).

Digitale Kommunikationsplattformen

Digitaler Kanal	Engagement-Kennzahlen
Unternehmenswebsite	Durchschnittliche monatliche Besucherzahl: 15.000
LinkedIn-Unternehmensseite	Follower: 3.500
Twitter-Konto	Follower: 2.200

Partnerschaften mit Gesundheitseinrichtungen

Aktive klinische Forschungskooperationen mit führenden Krebszentren.

• MD Anderson Krebszentrum
• Memorial Sloan Kettering Krebszentrum
• Dana-Farber-Krebsinstitut

Partnerschaftstyp	Anzahl aktiver Kooperationen
Forschungspartnerschaften für klinische Studien	7 laufende institutionelle Kooperationen
Forschungsstipendienpartnerschaften	3 aktive Forschungsfinanzierungsvereinbarungen

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Kundensegmente

Onkologen behandeln EBV-assoziierte Krebserkrankungen

Zielmarktgröße der auf EBV-assoziierte Krebsarten spezialisierten Onkologen: 1.250 Spezialisten in den Vereinigten Staaten.

Spezialfokus	Anzahl der Spezialisten	Potenzielle Marktdurchdringung
Hämatologische Onkologie	450	36%
Lymphom-Spezialisten	350	28%
Onkologen für solide Tumoren	450	36%

Patienten mit spezifischen virusassoziierten Malignomen

Gesamtpatientenpopulation für EBV-assoziierte maligne Erkrankungen: 15.700 neue Diagnosen pro Jahr in den Vereinigten Staaten.

• Lymphoproliferative Störung nach Transplantation (PTLD): 4.500 Patienten
• Nasopharynxkarzinom: 3.200 Patienten
• Hodgkin-Lymphom: 8.000 Patienten

Forschungseinrichtungen und akademische medizinische Zentren

Institutionstyp	Anzahl potenzieller Mitarbeiter	Zuweisung des Forschungsbudgets
Vom NCI ausgewiesene Krebszentren	71	3,2 Milliarden US-Dollar
Akademische medizinische Forschungszentren	132	5,7 Milliarden US-Dollar

Pharmaunternehmen sind an neuartigen Therapien interessiert

Gesamtzahl der Pharmaunternehmen, die auf onkologische Therapeutika abzielen: 87

• Unternehmen mit aktiven onkologischen Forschungsprogrammen: 62
• Unternehmen, die sich speziell für virusassoziierte Malignome interessieren: 19
• Potenzielle Partnerschafts-/Lizenzmöglichkeiten: 14

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das am 31. Dezember 2022 endende Geschäftsjahr meldete Viracta Therapeutics Gesamtkosten für Forschung und Entwicklung in Höhe von 26,9 Millionen US-Dollar.

Ausgabenkategorie	Betrag (2022)
Personalkosten	9,4 Millionen US-Dollar
Kosten für klinische Studien	12,5 Millionen US-Dollar
Labormaterialien	3,2 Millionen US-Dollar
Externe Forschungsverträge	1,8 Millionen US-Dollar

Kosten für das Management klinischer Studien

Viracta Therapeutics führt derzeit klinische Studien für seinen Hauptproduktkandidaten Nanatinostat in verschiedenen onkologischen Indikationen durch.

• Die Kosten für klinische Phase-2-Studien werden auf etwa 15 bis 20 Millionen US-Dollar pro Jahr geschätzt
• Mehrere klinische Standorte in den Vereinigten Staaten
• Die Kosten umfassen Patientenrekrutierung, Überwachung, Datenerfassung und Analyse

Schutz des geistigen Eigentums

Ab 2022 investiert Viracta Therapeutics 1,2 Millionen US-Dollar für den Schutz geistigen Eigentums und die Aufrechterhaltung von Patenten.

IP-Schutzkategorie	Jährliche Kosten
Patentanmeldung	$650,000
Patentpflege	$350,000
Rechtsberatung	$200,000

Verwaltungs- und Betriebsaufwand

Die gesamten Verwaltungs- und Betriebskosten für 2022 beliefen sich auf 12,3 Millionen US-Dollar.

• Allgemeine und Verwaltungsgehälter: 6,7 Millionen US-Dollar
• Ausgaben für Büro und Einrichtungen: 2,5 Millionen US-Dollar
• Professionelle Dienstleistungen: 1,8 Millionen US-Dollar
• Technologie und Infrastruktur: 1,3 Millionen US-Dollar

Viracta Therapeutics, Inc. (VIRX) – Geschäftsmodell: Einnahmequellen

Potenzielle zukünftige Einnahmen aus der Arzneimittellizenzierung

Ab 2024 verfügt Viracta Therapeutics über potenzielle Einnahmen aus der Arzneimittellizenzierung Auf das Epstein-Barr-Virus (EBV) ausgerichtetes Therapieprogramm.

Arzneimittelkandidat	Möglicher Lizenzstatus	Geschätzter potenzieller Wert
Nana-val (Nanatinostat)	Laufende klinische Entwicklung	Mögliche Meilensteinzahlungen in Höhe von 15 bis 25 Millionen US-Dollar
VTX-2735	Präklinisches Stadium	Potenzieller Lizenzwert von 10–20 Millionen US-Dollar

Forschungskooperationsvereinbarungen

Viracta hat kooperative Forschungspartnerschaften mit strategischen Pharmaunternehmen aufgebaut.

• Forschungskooperation am Memorial Sloan Kettering Cancer Center
• Kooperationsvereinbarung zwischen Dana und Farber Cancer Institute
• Potenzielle jährliche Einnahmen aus Forschungskooperationen: 500.000 bis 1,5 Millionen US-Dollar

Staatliche und private Forschungsstipendien

Viracta sichert Forschungsgelder durch verschiedene Fördermechanismen.

Grant-Quelle	Zuschussbetrag	Forschungsschwerpunkt
National Institutes of Health (NIH)	$750,000	EBV-assoziierte Malignitätsforschung
Kalifornisches Institut für Regenerative Medizin	$500,000	Entwicklung innovativer Krebstherapien

Zukünftiger Verkauf pharmazeutischer Produkte

Prognostizierte Verkäufe pharmazeutischer Produkte basierend auf der klinischen Entwicklungspipeline.

• Potenzielle Marktchance für Nanatinostat: 50–100 Millionen US-Dollar pro Jahr
• Zielindikation: EBV-assoziierte Lymphome
• Geschätztes maximales jährliches Umsatzpotenzial: 75 Millionen US-Dollar

Viracta Therapeutics, Inc. (VIRX) - Canvas Business Model: Value Propositions

You're looking at the core value Viracta Therapeutics, Inc. (VIRX) brought to the table, centered entirely around its lead asset, Nana-val. This value proposition is what any potential acquirer or partner would focus on, especially given the company's strategic review process initiated in late 2024.

Acquisition of a Late-Stage, First-in-Class Oncology Asset (Nana-val)

The primary value is the late-stage asset itself: Nana-val, which is the combination of nanatinostat, a selective class I histone deacetylase (HDAC) inhibitor, and valganciclovir, an FDA-approved antiviral drug. This combination represents a first-in-class approach targeting virus-associated malignancies. The asset reached a stage where Viracta Therapeutics, Inc. (VIRX) had paused its EBV-positive solid tumor program to focus resources, aiming for a potential New Drug Application (NDA) filing in 2026 for accelerated approval in EBV+ PTCL, contingent on financing and trial progression. The company's cash position as of the end of September 2024 was $21.1 million, with an expected runway into late Q1 2025, which intensified the need for a strategic transaction like a merger, sale, or licensing agreement announced in December 2024.

Potential for Accelerated Approval Path in EBV+ Lymphoma for a Buyer

The regulatory clarity achieved with the FDA provided a defined path for a buyer to pursue accelerated approval for Nana-val in relapsed or refractory (R/R) Epstein-Barr virus-positive (EBV+) Peripheral T-Cell Lymphoma (PTCL). Viracta Therapeutics, Inc. (VIRX) had planned to initiate a randomized controlled trial (RCT) in the second half of 2025 to support this potential registration. This de-risked regulatory pathway, combined with the high unmet medical need in R/R EBV+ PTCL-where median overall survival times have been reported as low as 6.5 months-creates significant value for a company that can fund and execute the next steps.

Novel Kick & Kill Therapeutic Approach for Virus-Associated Malignancies

The underlying scientific premise is the novel 'Kick & Kill' mechanism of action. This approach uses nanatinostat to 'kick' the latent EBV virus out of hiding (reactivation) and then uses valganciclovir to 'kill' the reactivated, virus-producing cells. This mechanism was validated by the substantially greater efficacy seen with Nana-val compared to nanatinostat monotherapy in the NAVAL-1 trial. The company was also pursuing this approach for other virus-related cancers, though the focus was narrowed to lymphoma.

• Nana-val is an all-oral combination regimen.
• It targets the latent EBV virus.
• It showed superior efficacy over monotherapy.
• The solid tumor program had determined a recommended Phase 2 dose.

Clinical Data Showing 30% Complete Response Rate in EBV+ PTCL Subgroup

The clinical evidence provides the hard numbers supporting the asset's potential. Specifically, the data from the NAVAL-1 trial, focusing on the second-line EBV+ PTCL subpopulation, demonstrated compelling activity. The median duration of response (DOR) had not yet been reached as of the August 2024 data cutoff, suggesting durable responses. Here's a breakdown of the key efficacy metrics reported for the second-line EBV+ PTCL subpopulation (ITT population, n=10):

Metric	Nana-val Response Rate
Overall Response Rate (ORR)	60%
Complete Response Rate (CRR)	30%
Median Duration of Response (DOR)	Not Yet Reached

For the broader R/R EBV+ PTCL population (ITT, n=21), the CRR was 19%. The company's decision in November 2024 to lay off 42% of its remaining staff was aimed at conserving resources to bridge to the H1 2025 data readout from the NAVAL-1 expansion phase, which was critical for the registrational thesis.

Viracta Therapeutics, Inc. (VIRX) - Canvas Business Model: Customer Relationships

You're dealing with a situation where the primary customer relationships have shifted from potential future prescribers and partners to existing creditors and the regulatory body overseeing market access. The focus is survival and asset disposition, not growth.

Formal communication with Nasdaq regarding delisting and compliance centered on multiple breaches of listing rules.

• Minimum bid price non-compliance notice received on May 28, 2024.
• Stockholders' equity fell below the required $2,500,000 threshold as of November 21, 2024.
• Trading suspension from Nasdaq commenced on February 4, 2025.
• The company anticipated trading on the OTC Pink Open Market post-suspension.
• A notice regarding non-compliance with audit committee requirements was dated January 13, 2025.

The relationship with secured lenders became critically important following default events.

Debt restructuring and negotiation with secured lenders resulted in a temporary reprieve.

• A forbearance agreement was entered into on January 23, 2025, with lenders including Oxford Finance LLC and Silicon Valley Bank.
• The agreement provided relief until the earliest of February 5, 2025, or a breach of the new terms.
• The company made a significant paydown payment of approximately $3.7 million.
• This followed a prior application of $7.7 million of cash towards obligations.
• The outstanding principal balance remaining after these payments was approximately $3.5 million.

High-stakes M&A and licensing discussions with potential acquirers were formalized as an exploration of strategic alternatives.

The Board of Directors initiated the process to investigate various strategic options on December 26, 2024, following the closure of the NAVAL-1 Clinical Trial. This exploration is the primary avenue for realizing value for equity holders, given the operational wind-down announced on February 5, 2025.

Investor relations focused on the strategic review process involved communicating drastic operational changes to maintain some semblance of corporate structure while pursuing asset sales.

• The company announced a 42% workforce reduction to reduce costs.
• The Board of Directors was resized from ten members to six members by November 6, 2024.
• Following the wind down announcement on February 5, 2025, Craig R. Jalbert was appointed as the sole board member, CEO, President, CFO, Treasurer, and Corporate Secretary.

Here's a quick look at the financial context surrounding these critical relationships as of early 2025:

Metric	Value/Date
Market Capitalization (Feb 5, 2025)	$1.4 million
Stock Price (Feb 5, 2025)	$0.04 per share
Cash Reserves (Q2 2024)	Approximately $30 million
Current Ratio (Early 2025)	0.76
Nasdaq Equity Threshold	$2,500,000

The current ratio of 0.76 definitely signaled that short-term obligations exceeded liquid assets, which pressured both lender negotiations and the ability to satisfy Nasdaq requirements.

Finance: draft 13-week cash view by Friday.

Viracta Therapeutics, Inc. (VIRX) - Canvas Business Model: Channels

Since the formal announcement on February 5, 2025, Viracta Therapeutics, Inc. has shifted its primary channels to focus almost entirely on the orderly cessation of operations and the exploration of strategic alternatives for its remaining development programs. The company is no longer operating as a going concern, which redefines all prior commercial and R&D channels into liquidation/asset disposition channels.

Direct engagement with potential strategic partners via advisors.

This channel is now exclusively managed by the appointed wind-down leadership to facilitate any potential transfer or sale of assets, such as the Nana-val combination therapy program. The engagement is not for business development in the traditional sense but for asset realization. The former CEO, Mark Rothera, resigned prior to this phase, with all residual strategic discussions falling under the new structure.

• Strategic alternatives exploration commenced following the closure of the NAVAL-1 clinical trial on December 26, 2024.
• The company is seeking potential strategic alternatives for its development programs as part of the wind-down.

SEC filings and press releases for public communication.

Public communication channels are now restricted to mandatory regulatory disclosures, primarily through SEC filings, which serve as the official record of the wind-down process. The company was delisted from Nasdaq on February 4, 2025, due to non-compliance with listing rules. All official updates are channeled through these filings and corresponding press releases, such as the one announcing the wind down on February 5, 2025.

You can find the official documentation, including Form 25 notifying the removal from listing and registration, on the SEC EDGAR database.

Legal and financial advisory firms overseeing the wind-down.

The primary channel for legal and financial oversight is the firm Verdolino & Lowey, P.C., an accounting firm based in Foxborough, Massachusetts, specializing in distressed businesses. Craig R. Jalbert, a principal at this firm, was appointed as the sole board member, CEO, President, CFO, Treasurer, and Corporate Secretary to implement the closure. This structure centralizes all remaining legal and financial decision-making.

The financial impact of this transition is quantified:

Financial Metric/Payment	Amount/Term
One-Time Workforce Termination Charge	$100,000 (estimated)
Craig R. Jalbert Annual Compensation	$50,000 per year
Duration of Jalbert's Wind-Down Role	Three years
Market Capitalization (as of 2025-07-10)	$6.02M
Share Price (as of 2025-02-03)	$0.04 / share

Corporate email for residual inquiries: Viracta@vlpc.com.

For any residual inquiries related to the former operations, asset disposition, or historical records, the designated channel is the corporate email address: Viracta@vlpc.com. This email is the direct line managed by the wind-down team, distinct from the former general contact, info@viracta.com. Correspondence can also be sent to the former corporate mailing address in Cardiff, CA, or the new correspondence address in Foxboro, MA.

• Residual Inquiry Email: Viracta@vlpc.com
• Former Headquarters: 2533 S. Coast Hwy 101, Suite 210, Cardiff, CA 92007
• Wind-Down Correspondence Address: 124 Washington Street, Ste. 101, Foxboro, MA 02035
• Transfer Agent Toll-Free Contact: 800.937.5449

Finance: confirm the final cash balance as of the last reported quarter before the wind-down charge posting by end of day Tuesday.

Viracta Therapeutics, Inc. (VIRX) - Canvas Business Model: Customer Segments

You're looking at the customer segments for Viracta Therapeutics, Inc. (VIRX) as of late 2025, which is a unique point in time given the company announced a Wind Down of Operations on February 5, 2025. This shifts the primary 'customers' from potential acquirers of a going concern to entities focused on asset realization and debt settlement.

The core therapeutic focus, prior to the wind-down, centered on patients with relapsed or refractory Epstein-Barr virus-positive (EBV+) lymphoma, specifically the R/R EBV-positive peripheral T-cell lymphoma (PTCL) cohort, where the NAVAL-1 trial showed an overall response rate (ORR) of 33% in the intent-to-treat (ITT) population for Stages 1 and 2. The company had also been evaluating Nana-val for EBV+ recurrent or metastatic nasopharyngeal carcinoma (NPC) and other EBV+ solid tumors.

The customer segments, in the context of strategic alternatives exploration announced December 26, 2024, and the subsequent wind-down, are defined by their financial or asset-related interests:

• Large pharmaceutical companies seeking precision oncology assets. These entities would be interested in the intellectual property (IP) related to Nana-val (nanatinostat and valganciclovir combination) and the data package from the NAVAL-1 trial, particularly in the context of the planned Randomized Controlled Trial (RCT) initiation in the second half of 2025, which was ultimately paused.
• Mid-cap biotech firms focused on hematology/oncology pipeline expansion. These firms might assess the value of acquiring the remaining clinical data or specific platform technology, like the "Kick and Kill" approach for other virus-related cancers.
• Financial entities interested in distressed asset acquisition or IP monetization. Following the announcement of exploring strategic alternatives, these entities become key stakeholders interested in purchasing residual assets, including IP, post-liquidation proceedings initiated around February 5, 2025.
• Secured lenders (Oxford Finance LLC, Silicon Valley Bank) as primary stakeholders. These lenders held the primary claim on assets following the forbearance agreement of January 2025.

The financial structure leading up to the wind-down provides concrete numbers defining the lenders' position:

Financial Metric	Amount as of January 2025
Outstanding Principal Balance (Post-Paydown)	$3.5 million
Cash Paydown Made Under Forbearance	$3.7 million
Prior Cash Application to Obligations	$7.7 million
Market Capitalization (January 25, 2025)	$6.74 million

The internal restructuring also signals a shift in the company's operational footprint, which impacts the value proposition to any potential acquirer of remaining assets. The company implemented a 42% reduction in force. The cash position reported as of June 30, 2024, was approximately $30 million, which was projected to fund operations into the first quarter of 2025.

The secured lenders' primary interest is directly tied to the outstanding debt, which was modified under the Third Amendment to the Loan Agreement. The agreement involved granting a security interest in the company's intellectual property to the lenders.

The patient populations targeted for Nana-val, which represent the ultimate market for the asset, included:

• Patients with relapsed or refractory EBV-positive peripheral T-cell lymphoma (PTCL).
• Patients with EBV-positive recurrent or metastatic nasopharyngeal carcinoma (NPC).
• Patients with other EBV-positive solid tumors.

The company's total employee count was reported as 26 total employees, indicating a small operational footprint even before the 42% reduction.

Viracta Therapeutics, Inc. (VIRX) - Canvas Business Model: Cost Structure

You're looking at the cost structure of Viracta Therapeutics, Inc. (VIRX) as of late 2025, which is dominated by wind-down activities following the cessation of operations in February 2025. The cost base has shifted from high-burn R&D to liquidation and administrative overhead necessary to manage the wind-down and explore strategic alternatives.

The primary cost drivers reflect the company's decision to shut down and manage its remaining liabilities. These costs are one-time or fixed for the duration of the wind-down process, rather than variable based on clinical trial progress.

Cost Component Category	Latest Relevant Financial Amount	Context/Date
Wind-down and Severance Costs	$100,000	One-time charge expected for staff wages and severance payments upon termination of all employees (February 2025).
Wind-down Management Compensation	$50,000 per year	Fixed compensation for the appointed CEO to oversee the wind-down for a three-year term.
Last Reported R&D Expense	$7.2 million	Research and Development expense for Q3 2024, prior to the operational shutdown.
Remaining Debt Principal (Post-Paydown)	$3.5 million	Outstanding principal balance on the loan facility after significant paydowns as of January 2025.
Prior Pro Forma Debt	$18.6 million	Debt balance following a prepayment in early 2024.

The operational cost structure, as it existed before the February 2025 wind-down, was heavily weighted toward Research and Development, which is now drastically reduced to minimal or zero ongoing expenditure, save for necessary wind-down administrative overhead.

• Wind-down and severance costs were estimated at around $100,000, covering the final staff wages and severance packages.
• Legal and professional fees are now primarily tied to the wind-down process and the exploration of strategic alternatives for development programs.
• The last reported significant Research and Development (R&D) expense was $7.2 million in Q3 2024.
• Debt servicing costs are now focused on managing the reduced outstanding loan facility principal, which stood at approximately $3.5 million in January 2025.
• General and administrative expenses, which historically included professional fees for accounting, legal services, and compliance, are now fixed to support the liquidation effort.

To be fair, the costs associated with the wind-down CEO, Craig Jalbert, are a fixed commitment of $50,000 annually for three years, separate from the one-time severance charge. The prior debt of $18.6 million (pro forma Q1 2024) was significantly reduced by a paydown of approximately $3.7 million in January 2025, leaving the smaller $3.5 million balance to be managed during the liquidation phase.

Viracta Therapeutics, Inc. (VIRX) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for Viracta Therapeutics, Inc. (VIRX) as of late 2025, and honestly, it's a story of pre-commercialization potential and asset realization, not product sales. The company's entire financial structure hinges on successful monetization events stemming from its past development work on Nana-val.

Zero product sales revenue as of late 2025.

As a clinical-stage company, Viracta Therapeutics, Inc. has not generated revenue from the sale of commercial products. This is standard for a firm at this stage, especially given the strategic decisions made in late 2024. For context, the reported Quarterly Revenue for the period ending September 2024 was $0 Million. This lack of product revenue means operating cash flow is entirely negative, driven by research and development and general and administrative expenses.

Potential one-time upfront payment from a licensing or sale of Nana-val IP.

The most concrete, non-dilutive cash infusion to date has come from prior intellectual property (IP) monetization events related to Nana-val. You should note the timing of these events, as they are historical context for any late 2025 deal. Specifically, there was an upfront payment of $13.5 million tied to license agreements executed in December 2019 with Day One Biopharmaceuticals, Inc. and Denovo Biopharma LLC. Furthermore, Viracta Therapeutics, Inc. strengthened its balance sheet in March 2024 by receiving non-dilutive proceeds of $5.0 million through the monetization of a pre-commercialization, event-based milestone from Day One Biopharmaceuticals, Inc.

Milestone payments or royalties from future development by an acquirer.

The primary mechanism for future revenue, absent a full company sale, is through contingent payments on the Nana-val asset. The existing license agreements entitle Viracta Therapeutics, Inc. to receive future milestone payments or royalties should an acquirer or partner advance Nana-val. The exploration of strategic alternatives, initiated in December 2024, centers on maximizing value through one of these paths. The company's plan to initiate a randomized controlled trial (RCT) in the second half of 2025 was contingent on financing, which was a key driver for the strategic review.

Here's a quick look at the key financial and deal data points that frame the current revenue potential:

Metric	Value/Status	Date/Context
Product Sales Revenue (Quarterly)	$0 Million	September 2024
Upfront Payment (Historical)	$13.5 Million	Related to 2019 License Agreements
Milestone Monetization Received	$5.0 Million	March 2024 from Day One Biopharmaceuticals
Cash & Short-Term Investments	$21.1 Million	As of Q3 2024
Cash Runway Guidance (Pre-Wind Down)	Late into Q1 2025	Based on Q3 2024 reporting

Monetization of remaining non-core assets or cash reserves.

Given the announcement on February 5, 2025, regarding the wind down of operations, the focus shifted entirely to conserving capital and realizing value from remaining assets. The cash position as of June 30, 2024, was approximately $30 million, which was expected to fund operations into the first quarter of 2025. By Q3 2024, this had narrowed to $21.1 million. The Board's decision in late 2024 to close the pivotal NAVAL-1 trial was explicitly made to maximize the cash runway while exploring strategic alternatives. Any remaining non-core assets would be part of this strategic review process, which could include the sale of remaining IP or technology platforms outside of the core Nana-val focus.

The strategic alternatives being discussed as of late 2024 included:

• A merger.
• A licensing agreement.
• A sale or other strategic transaction.

The company stated it would not disclose further developments unless a specific action was approved by the Board. If onboarding takes 14+ days, churn risk rises, but here, the risk is the timeline for a strategic transaction closing before the remaining cash is fully depleted.