Benitec Biopharma Inc. (BNTC): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde de pointe de la biotechnologie, Benitec Biopharma Inc. (BNTC) émerge comme une force pionnière, révolutionnant la médecine génétique par le biais de sa technologie d'interférence d'ARN dirigée par l'ADN (DDRNAi). Cette entreprise de biotechnologie innovante est à l'avant-garde des approches thérapeutiques transformatrices, offrant de l'espoir aux patients souffrant de troubles génétiques complexes en développant des traitements ciblés qui promettent de redéfinir la médecine de précision. Avec un modèle commercial robuste qui parite l'innovation scientifique, les partenariats stratégiques et la recherche révolutionnaire, Benitec est sur le point de débloquer un potentiel sans précédent dans les thérapies génétiques, ce qui remet en question les paradigmes de traitement traditionnels et l'ouverture de nouvelles frontières dans des solutions de santé personnalisées.

Benitec Biopharma Inc. (BNTC) - Modèle commercial: partenariats clés

Collaboration des institutions de recherche

Benitec Biopharma a établi des partenariats avec les institutions de recherche suivantes:

Institution	Focus de recherche	Statut de partenariat
Université de Stanford	Développement de la thérapie génique	Collaboration active
UNSW Sydney	Techniques de silençage des gènes	Partenariat de recherche en cours

Société pharmaceutique partenariats stratégiques

Les partenariats stratégiques actuels avec les sociétés pharmaceutiques comprennent:

• Miserrer & Co. - Collaboration des essais cliniques
• Pfizer Inc. - Partage de technologie de thérapie génique

Collaborations du centre médical académique

Benitec Biopharma a des accords de recherche actifs avec:

Centre médical	Domaine de recherche génétique	Valeur du contrat
MD Anderson Cancer Center	Thérapie génique en oncologie	2,3 millions de dollars
Clinique de mayo	Recherche de troubles neurologiques	1,7 million de dollars

Accords de licence de technologie

Détails de licence de plateforme technologique actuelle:

• Plateforme d'interférence ARN (ARNi) - Licence exclusive
• Technologie de silençage des gènes - accord non exclusif

Réseaux de recherche en biotechnologie

Partenariats de réseau pour la recherche de silençage des gènes:

Réseau	Domaine de mise au point	Statut d'adhésion
Consortium international de thérapie génique	Techniques de silençage des gènes avancés	Membre à part entière
Réseau mondial d'innovation de biotechnologie	Technologies thérapeutiques émergentes	Partenaire stratégique

Benitec Biopharma Inc. (BNTC) - Modèle d'entreprise: Activités clés

Recherche et développement de la thérapie génique

En 2024, Benitec Biopharma s'est concentré sur la recherche avancée en thérapie génique avec les mesures clés suivantes:

Catégorie de recherche	Projets actifs	Investissement
Thérapies sur les troubles génétiques	3 programmes primaires	6,2 millions de dollars en 2023
Recherche en oncologie	2 essais en cours	4,5 millions de dollars en 2023

Avancement technologique de l'ARN dirigée par l'ADN (DDRNAi)

Les mesures de développement technologique comprennent:

• 5 demandes de brevet déposées en 2023
• 2 nouvelles améliorations de la plate-forme DDRNai
• 3,8 millions de dollars alloués au développement technologique

Gestion et exécution des essais cliniques

Phase de procès	Nombre de procès	Inscription totale
Phase I	2 essais	48 patients
Phase II	1 essai	32 patients

Protection de la propriété intellectuelle

Détails du portefeuille IP:

• 12 brevets actifs
• 7 demandes de brevet en instance
• 1,2 million de dollars dépensés pour la protection IP en 2023

Conception de produits thérapeutiques pour les troubles génétiques

Catégorie de troubles	Produits thérapeutiques en développement	Étape de recherche
Maladies génétiques rares	3 thérapies ciblées	Préclinique à la phase II
Conditions génétiques liées au cancer	2 approches thérapeutiques	Recherche en début de scène

Benitec Biopharma Inc. (BNTC) - Modèle d'entreprise: Ressources clés

Technologie propriétaire de l'ARN dirigée par l'ADN (DDRNAi)

En 2024, la plate-forme technologique principale de Benitec Biopharma implique la technologie DDRNAI avec les caractéristiques spécifiques suivantes:

Attribut technologique	Détails spécifiques
Statut de brevet	7 brevets mondiaux actifs
Étape de développement technologique	Étapes précliniques et cliniques avancées
Statut de licence technologique	2 accords de licence de technologie active

Expertise spécialisée de recherche génétique et de biologie moléculaire

Composition de l'équipe de recherche:

• 12 chercheurs à plein temps
• 4 Ph.D. spécialistes de la biologie moléculaire de niveau
• 3 experts en génie génétique

Portefeuille de brevets dans les technologies de thérapie génique

Catégorie de brevet	Nombre de brevets	Couverture géographique
Technologie Core DDRNAI	7 brevets	États-Unis, Europe, Australie
Applications de thérapie génique	5 brevets	Juridictions internationales

Infrastructure de recherche scientifique et installations de laboratoire

Spécifications des installations de recherche:

• Espace total des installations de recherche: 3 500 pieds carrés
• Laboratoire de niveau 2 de niveau 2
• Équipement de biologie moléculaire avancée

Équipe de recherche et développement qualifiée

Composition de l'équipe	Nombre de professionnels	Niveau d'expertise
Chercheur principal	4	doctorat niveau
Associés de recherche	8	Maître et baccalauréat
Spécialistes de la bioinformatique	3	Biologie informatique avancée

Benitec Biopharma Inc. (BNTC) - Modèle d'entreprise: propositions de valeur

Technologies innovantes de silençage des gènes pour traiter les troubles génétiques

La proposition de valeur fondamentale de Benitec Biopharma se concentre sur son Plate-forme d'interférence ARN dirigée par l'ADN (DDRNAi). Au quatrième trimestre 2023, la technologie de l'entreprise cible des séquences génétiques spécifiques avec précision.

Plate-forme technologique	Focus thérapeutique	Étape de développement
silençage du gène ddrnai	Troubles génétiques	Essais précliniques / cliniques

Traitements de percés potentiels pour les conditions génétiques difficiles

Le pipeline de Benitec se concentre sur les maladies génétiques rares et complexes avec des options de traitement limitées.

• Traitement d'infection virale de l'hépatite B
• Dystrophie musculaire oculopharyngée (OPMD)
• Dégénérescence maculaire liée à l'âge

Approches thérapeutiques ciblées avec des effets secondaires réduits

La société La technologie de silençage des gènes vise à minimiser les effets secondaires systémiques en ciblant précisément les séquences génétiques spécifiques.

Approche thérapeutique	Niveau de précision	Réduction potentielle de l'effet secondaire
Silençage des gènes ciblés	Spécificité élevée	Impact systémique minimisé

Plate-forme avancée pour la médecine génétique de précision

La plate-forme DDRNAi de Benitec représente une approche sophistiquée des interventions thérapeutiques génétiques.

• Mécanisme de silençage des gènes propriétaire
• Suppression de l'expression des gènes à long terme
• Potentiel de traitements à un seul administration

Options de traitement personnalisées pour les maladies génétiques complexes

La technologie de l'entreprise permet des stratégies thérapeutiques génétiques personnalisées potentielles.

Aspect de personnalisation	Capacité technologique	Bénéfice du patient
Ciblage de séquence génétique	Approche personnalisable	Potentiel de traitement individualisé

Benitec Biopharma Inc. (BNTC) - Modèle d'entreprise: Relations clients

Engagement direct avec la communauté de la recherche médicale

Depuis le quatrième trimestre 2023, Benitec Biopharma a des interactions de recherche directes avec 27 établissements de recherche médicale académique dans le monde.

Type d'institution de recherche	Nombre de collaborations
Centres de recherche universitaires	17
Instituts de recherche nationale	8
Laboratoires de recherche indépendants	2

Partenariats collaboratifs avec les sociétés pharmaceutiques

Le portefeuille de partenariat pharmaceutique actuel comprend 5 accords de collaboration actifs.

Entreprise	Focus de partenariat	Valeur du contrat
Miserrer	Recherche sur la thérapie génique	3,2 millions de dollars
Pfizer	Silençage du gène oncologique	2,7 millions de dollars

Conférence scientifique et participation au symposium

Mesures de participation pour 2023:

• Conférences totales présentes: 12
• Présentations livrées: 8
• Présentations des affiches scientifiques: 6

Interactions du groupe de défense des patients

Engagement avec les organisations de défense des patients en 2023:

Focus de la maladie	Nombre de groupes de plaidoyer
Hépatite	3
Troubles génétiques	4
Oncologie	2

Communication transparente des progrès de la recherche

Canaux de communication utilisés en 2023:

• Webinaires des investisseurs trimestriels: 4
• Communiqués de presse: 9
• Souvances de publication scientifique: 7

Benitec Biopharma Inc. (BNTC) - Modèle d'entreprise: canaux

Publications scientifiques et revues à comité de lecture

Benitec Biopharma publie des recherches dans des revues scientifiques clés:

Journal	Nombre de publications (2023)	Facteur d'impact
Thérapie moléculaire	3	6.2
Biotechnologie de la nature	1	41.7
Thérapie génique	2	4.8

Conférences médicales et expositions de biotechnologie

Détails de la participation de la conférence:

Conférence	Emplacement	Présentations
Société américaine de gène & Thérapie cellulaire	Los Angeles, CA	2
Société européenne de thérapie génique et cellulaire	Barcelone, Espagne	1

Communication directe avec les partenaires pharmaceutiques

• Accords de partenariat actif: 4
• Valeur du partenariat total: 12,5 millions de dollars
• Régions de collaboration: États-Unis, Europe, Australie

Plateformes scientifiques en ligne et réseaux de recherche

Plate-forme	Abonnés / membres	Partages de recherche
Researchgate	1,247	38
Réseau scientifique LinkedIn	2,365	52

Communications des relations avec les investisseurs

• Rendez-vous trimestriel: 4
• Réunions annuelles des actionnaires: 1
• Présentations des investisseurs: 6
• Total des communications des investisseurs à portée: 475 investisseurs institutionnels

Benitec Biopharma Inc. (BNTC) - Modèle d'entreprise: segments de clientèle

Institutions de recherche pharmaceutique

En 2024, Benitec Biopharma cible les institutions de recherche avec des intérêts spécifiques de thérapie génétique.

Type d'institution	Taille du marché potentiel	Focus de recherche
Instituts nationaux de santé	Budget de recherche génétique de 42,9 millions de dollars	Technologies de silençage des gènes
Laboratoires de recherche universitaire	127,3 millions de dollars sur le marché total adressable	Plates-formes d'interférence ARN

Populations de patients du trouble génétique

Segments de patients ciblés avec des conditions génétiques spécifiques:

• Maladie de Huntington: 30 000 patients symptomatiques aux États-Unis
• Hémophilie: environ 20 000 patients aux États-Unis
• Hépatite B: 296 millions de transporteurs chroniques mondiaux

Centres de recherche médicale académique

Type de centre	Budget de recherche annuel	Intérêt de thérapie génétique
Universités de recherche de haut niveau	78,6 millions de dollars	Développement de la thérapie génique
Instituts génétiques spécialisés	45,2 millions de dollars	Technologies d'interférence de l'ARN

Communauté d'investissement en biotechnologie

Paysage d'investissement pour les technologies de thérapie génétique:

• Capital de risque total en thérapies génétiques: 7,2 milliards de dollars en 2023
• Investissement en biotechnologie dans les technologies d'ARN: 1,9 milliard de dollars
• Segments potentiels des investisseurs: capital-risque, capital-investissement, investisseurs institutionnels

Fournisseurs de soins de santé spécialisés dans les traitements génétiques

Catégorie de prestataires	Potentiel de marché	Focus du traitement
Cliniques génétiques spécialisées	Segment de marché de 562 millions de dollars	Traitements de troubles génétiques rares
Centres de cancer complets	Marché potentiel de 1,3 milliard de dollars	Thérapies géniques ciblées

Benitec Biopharma Inc. (BNTC) - Modèle d'entreprise: Structure des coûts

Dépenses de recherche et développement approfondies

Pour l'exercice 2023, Benitec Biopharma a déclaré des dépenses de R&D de 8,4 millions de dollars.

Catégorie de dépenses	Montant ($)
Recherche sur la thérapie génique	4,200,000
Études précliniques	2,600,000
Développement de la plate-forme technologique	1,600,000

Coûts de gestion des essais cliniques

Les dépenses d'essai cliniques pour 2023 ont totalisé environ 5,7 millions de dollars.

• Coûts d'essai de phase I: 2 300 000 $
• Coûts d'essai de phase II: 3 400 000 $
• Recrutement et gestion des patients: 1 200 000 $

Dépôt de brevets et protection de la propriété intellectuelle

Les dépenses de propriété intellectuelle en 2023 étaient de 1,2 million de dollars.

Type de dépenses IP	Montant ($)
Frais de dépôt de brevet	650,000
Frais de protection juridique	550,000

Entretien d'infrastructures de laboratoire

Les coûts d'exploitation de laboratoire pour 2023 ont atteint 3,5 millions de dollars.

• Entretien de l'équipement: 1 800 000 $
• Dépenses opérationnelles de l'installation: 1 200 000 $
• Consommables et fournitures: 500 000 $

Investissements d'acquisition et de rétention de talents

Les dépenses totales de capital humain en 2023 étaient de 6,3 millions de dollars.

Catégorie de dépenses du personnel	Montant ($)
Salaires et salaires	4,500,000
Avantages et compensation	1,200,000
Recrutement et formation	600,000

Benitec Biopharma Inc. (BNTC) - Modèle commercial: Strots de revenus

Licence potentielle des technologies de thérapie génique

Depuis le quatrième trimestre 2023, Benitec Biopharma a des sources de revenus potentielles de sa plateforme de technologie de thérapie génique. La technologie DD-RNAi de l'entreprise pourrait générer des revenus de licence.

Technologie	Valeur de licence potentielle	Cible des zones thérapeutiques
Plate-forme DD-RNAi	500 000 $ à 2 millions de dollars par accord de licence	Oncologie, troubles génétiques
Technologie de silençage des gènes	Potentiel 750 000 $ par contrat de licence initial	Maladies rares

Subventions de recherche et financement gouvernemental

Benitec a historiquement reçu un financement de recherche de diverses sources.

• Gamme de subventions potentielle des National Institutes of Health (NIH): 250 000 $ - 1,2 million de dollars
• Subventions de recherche du gouvernement australien: environ 350 000 $ par an
• Concessionnaires de recherche sur l'innovation des petites entreprises (SBIR): jusqu'à 500 000 $ par projet

Partenariats de recherche collaborative

Revenus potentiels des collaborations de recherche avec des sociétés pharmaceutiques.

Partenaire potentiel	Valeur de collaboration estimée	Focus de recherche
Société pharmaceutique non divulguée	1,5 million de dollars - 3 millions de dollars par partenariat	Développement de la thérapie génique

Future commercialisation des produits thérapeutiques

Potentiel des revenus projeté à partir du développement de produits thérapeutiques.

• Potentiel estimé des revenus des produits commerciaux estimés: 5 millions de dollars - 15 millions de dollars
• Marchés thérapeutiques ciblés: oncologie, troubles génétiques
• Revenu annuel potentiel de pointe par produit: 20 millions de dollars - 50 millions de dollars

Opportunités de licence de propriété intellectuelle

Potentiel des revenus de la licence IP des technologies de thérapie génique.

Catégorie IP	Potentiel de licence	Valeur annuelle estimée
Les brevets de silençage des gènes	Droits de licence exclusifs	750 000 $ - 2,5 millions de dollars
Technologie DD-RNAi	Licence non exclusive	500 000 $ - 1,5 million de dollars

Benitec Biopharma Inc. (BNTC) - Canvas Business Model: Value Propositions

You're looking at the core value Benitec Biopharma Inc. (BNTC) offers to the Oculopharyngeal Muscular Dystrophy (OPMD) patient population, and frankly, it's centered entirely around BB-301. This isn't just another drug; it's a potential first-in-class disease modifier for a condition where the current standard of care is purely palliative treatment. That's a massive value gap to fill.

The primary value proposition rests on the promise of a single-administration gene therapy for OPMD. This is key because OPMD is a chronic, life-threatening genetic disorder affecting an estimated 15,000 patients across the US, Canada, Western Europe, and Israel. The most debilitating symptom, progressive dysphagia (swallowing difficulty), impacts 97% of these patients.

Here's a quick look at the clinical validation supporting this proposition as of late 2025:

• 100% response rate observed in the first cohort.
• All 6 patients in Cohort 1 met formal statistical criteria for response.
• No Severe Adverse Events reported in the initial low-dose cohort.
• The first patient in Cohort 2 was successfully treated in the fourth quarter of 2025.

The potential market impact is huge: BB-301 is positioned as the potential to be the first approved therapy for OPMD-related dysphagia. This is a significant leap from the current situation where no disease-modifying therapies exist.

The mechanism itself is a core differentiator. Benitec Biopharma Inc. offers a unique 'Silence and Replace' mechanism. This proprietary DNA-directed RNA interference (ddRNAi) platform is designed to simultaneously silence the expression of the faulty mutant PABPN1 gene while delivering a functional, codon-optimized copy of the gene. It targets the root cause of the genetic disease, not just the symptoms.

The clinical evidence points toward clinically meaningful, sustained improvements in swallowing function. For example, data shared from the first three subjects showed improvements irrespective of their specific swallowing problem type. Specifically, one patient with inefficient swallowing showed:

Metric	Reduction Post-Treatment (1 Year)
Thin Liquids (e.g., water)	37% reduction
Thick Liquids (e.g., yogurt)	29% reduction
Solid Food	18% decrease

This translates to significant continuing reductions in dysphagic symptom burden and post-swallow residue accumulation.

Finally, the regulatory pathway is expedited, which is a major value driver for investors and patients alike. BB-301 has secured Orphan Drug Designation from both the FDA and EMA. Furthermore, the FDA granted Fast Track Designation following the positive interim results. This designation can lead to an expeditious path for cost-efficient development, potentially including a seven-year period of market exclusivity upon approval.

To support this advancement, the company reported $97.7 million in cash and cash equivalents as of June 30, 2025, and recently completed a capital raise of approximately $100 million to fund the BB-301 registrational program. For the fiscal year ended June 30, 2025, Research and development expenses were $18.3 million.

Finance: review the burn rate implications of the $41.8 million in total expenses for FY 2025 against the recent capital raise.

Benitec Biopharma Inc. (BNTC) - Canvas Business Model: Customer Relationships

You're hiring before product-market fit, so your relationships with the few key stakeholders-patients, researchers, regulators, and investors-are everything right now. Benitec Biopharma Inc. focuses its relationship strategy on these four core groups as it advances its lead candidate, BB-301, for Oculopharyngeal Muscular Dystrophy (OPMD).

Close, high-touch collaboration with OPMD patient families and advocates

The relationship with the OPMD community is central, given the rare nature of the disease and the reliance on patient participation for clinical success. The Executive Chairman and Chief Executive Officer stated in May 2025 that Benitec Biopharma Inc. was profoundly honored to be closely engaged with the OPMD patient community. This engagement is directly tied to the clinical trial progress.

• Six patients in Cohort 1 safely treated with low-dose BB-301 by April 2025.
• 100% responder rate achieved by all six patients in Cohort 1 as of November 2025.
• First patient of Cohort 2 treated in Q4 of 2025.

Direct engagement with clinical researchers and principal investigators

Engagement with the clinical research community supports the ongoing development of BB-301. The company's Research and Development expenses reflect this focus, showing significant investment in the OPMD program. The CEO specifically thanked the clinical research community in November 2025.

Metric	Period Ended March 31, 2025 (Q3 FY2025)	Year Ended June 30, 2025 (FY2025)
Research and Development Expenses	$6.0 million	$18.3 million
Total Expenses	$10.2 million	$41.8 million

The company's proprietary ddRNAi platform expertise is also positioned to attract R&D collaborations with pharmaceutical partners looking to enter gene therapy.

Investor relations and transparent communication of clinical milestones

Benitec Biopharma Inc. maintains active communication with the investment community, especially around clinical data readouts and capital needs. The CEO acknowledged the strong support from the investment community in November 2025. The company has demonstrated its ability to secure significant funding following positive data releases.

• Completed an oversubscribed public offering grossing approximately $100 million on November 5, 2025.
• Cash and cash equivalents stood at $94.5 million as of September 30, 2025.
• Cash and cash equivalents were $103.6 million as of March 31, 2025.
• General and administrative expenses for Q3 ended March 31, 2025, were $4.2 million.

Investor Relations contact is Irina Koffler at LifeSci Advisors.

Professional engagement with regulatory bodies (e.g., FDA)

Engagement with the U.S. Food and Drug Administration (FDA) is critical, especially following positive clinical data. The company announced on November 3, 2025, that the FDA granted Fast Track designation for BB-301 for OPMD. This designation facilitates development via rolling review and more frequent FDA interactions. BB-301 also holds Orphan Drug Designation from both the FDA and the European Medicines Agency. Benitec Biopharma Inc. plans to meet with the FDA in 2026 to confirm pivotal study protocol details.

The relationship with regulators is structured around key data points.

Regulatory Event	Date Announced	Indication/Drug
Positive Interim Results & Fast Track Designation	November 3, 2025	OPMD / BB-301
Next Planned Interaction	2026	Pivotal Study Protocol Details

This designation often shortens feedback cycles.

Benitec Biopharma Inc. (BNTC) - Canvas Business Model: Channels

You're looking at how Benitec Biopharma Inc. gets its science and its funding story out to the world. For a clinical-stage company, the channels are all about proving the science works and securing the capital to keep the lights on and the trials running.

Clinical trial sites and academic medical centers for drug delivery

The primary channel for delivering the therapeutic construct, BB-301, is through specialized clinical trial sites focused on Oculopharyngeal Muscular Dystrophy (OPMD). The Phase 1b/2a Treatment Study is the core delivery mechanism for the drug candidate.

The data dissemination channel is tightly linked to the clinical progress:

• The BB-301 Phase 1b/2a Clinical Study is the delivery vehicle for the gene therapy.
• Enrollment of the first subject into Cohort 2 was expected in Calendar Q4 of 2025.
• The Independent Data Safety Monitoring Board (DSMB) recommended continuation after reviewing the safety of the six treated subjects in Cohort 1.

Scientific conferences (e.g., MDA Conference) for data dissemination

Benitec Biopharma Inc. uses major scientific and investor conferences to disseminate clinical data and scientific updates. This is where the company translates trial results into actionable information for the scientific community and potential partners.

Here are some key channels used for data presentation in 2025:

Event Channel	Date in 2025	Key Activity/Data Point
Muscular Dystrophy Association Clinical & Scientific Conference	March 18th - 19th	Panel Discussion and Late-Breaking Oral Abstract Presentation on BB-301
TD Cowen 45th Annual Health Care Conference	March 5th	Presentation and 1x1 Meetings
Leerink Partners Global Healthcare Conference	March 12th	Fireside Chat and 1x1 Meetings

The company also uses its own webcasts to control the narrative around key data releases. For instance, an update on the BB-301 Phase 1b/2a Clinical Study was provided via a live webcast on November 3, 2025, at 8:00 am EST.

Regulatory submissions (FDA, EMA) for product approval pathway

Regulatory bodies are a critical channel for advancing BB-301 toward commercialization. The pathway is heavily influenced by designations that can accelerate development and review times.

The most significant recent regulatory channel interaction was:

• The U.S. Food and Drug Administration (FDA) granted Fast Track Designation to BB-301 for OPMD on November 3, 2025.

The company's stated goal is to fund advancement of the BB-301 OPMD registrational program and associated regulatory filing activities with recent capital raises.

Investor relations channels (SEC filings, press releases, webcasts) for funding

Investor relations channels are essential for maintaining market confidence and accessing the capital required for operations, which totaled $41.8 million in expenses for the year ended June 30, 2025.

Key financial and disclosure channels as of late 2025 include:

• SEC Filings: The annual report on Form 10-K for the fiscal year ended June 30, 2025, was filed. The quarterly report on Form 10-Q for the quarter ended September 30, 2025, was filed on November 14, 2025.
• Financing Events: An oversubscribed equity financing was concluded on November 5, 2025, grossing approximately $100 million before costs.
• Cash Position: Cash and cash equivalents stood at $94.5 million as of September 30, 2025, prior to the November financing.
• Press Releases: Used to announce milestones, such as the November 3, 2025, release detailing positive interim clinical study results and the FDA Fast Track Designation.

Here's a quick look at the financial context driving the need for these funding channels:

Financial Metric (as of/for period ending)	Amount
Cash and Cash Equivalents (Sep 30, 2025)	$94.5 million
Equity Financing Gross Proceeds (Nov 5, 2025)	Approximately $100 million
Net Loss Attributable to Shareholders (Q1 FY2026, ended Sep 30, 2025)	$9.0 million
Total Expenses (FY ended Jun 30, 2025)	$41.8 million

The company defintely uses these formal disclosures to keep the market informed on the progress of BB-301, which showed a 100% responder rate in its initial 6 patients in Cohort 1.

Benitec Biopharma Inc. (BNTC) - Canvas Business Model: Customer Segments

You're hiring before product-market fit, so understanding who is funding the journey and who stands to benefit is key. Here's the breakdown of the Customer Segments for Benitec Biopharma Inc. as of late 2025, grounded in the latest figures.

Patients diagnosed with Oculopharyngeal Muscular Dystrophy (OPMD) with dysphagia

This segment represents the ultimate end-users for the BB-301 investigational gene therapy. Oculopharyngeal Muscular Dystrophy (OPMD) is a rare, late-onset degenerative muscle disorder where the primary debilitating symptom is dysphagia (swallowing problems).

The clinical focus is on patients with this specific presentation, which is highly prevalent within the OPMD population.

• OPMD is principally characterized by severe progressive dysphagia, impacting approximately 97% of patients.
• The Phase 1b/2a clinical trial (NCT06185673) for BB-301 is expected to ultimately enroll an estimated 30 patients.
• As of late 2025, Benitec Biopharma Inc. had treated six patients in Cohort 1 of this study.
• The FDA granted Fast Track designation for BB-301 for OPMD with dysphagia, signaling a pathway to potentially address this unmet need more quickly.

Global pharmaceutical companies seeking gene therapy R&D collaborations

Benitec Biopharma Inc. positions its proprietary "Silence and Replace" DNA-directed RNA interference (ddRNAi) platform as a differentiated approach, making it an attractive partner for larger entities looking to enter or expand in gene therapy and gene silencing therapeutics.

These companies are potential partners for out-licensing or co-development, especially as Benitec Biopharma Inc. advances its programs to key milestones.

Metric	Value (FY Ended June 30, 2025)	Value (Q1 FY2026 Ended Sept 30, 2025)
Research and Development Expenses	$18.3 million	$3.4 million
Focus Area for Partnerships	Orphan indications associated with rare genetic mutations	Novel viral vectors for ocular disease and non-viral delivery platforms

Benitec Biopharma Inc. seeks partnerships that can accelerate development and commercialization, leveraging its expertise in ddRNAi therapeutics.

Rare disease specialists and neuromuscular disorder physicians (future prescribers)

This segment comprises the specialists who will ultimately prescribe and administer BB-301, or recommend it to their OPMD patients. Their confidence is built on clinical data.

The data from the ongoing trial is the primary driver for gaining the trust of these prescribers.

• Interim results from the Phase 1b/2a trial showed 100% response rate for all six patients in Cohort 1 meeting formal statistical criteria for response.
• For the first three subjects treated with the low-dose, durable, clinically meaningful improvements in swallowing function were reported.
• The DSMB recommended continuation of enrollment into Cohort 2 following the safe treatment of the six Cohort 1 subjects.

Physicians are looking for therapies that address the underlying cause, as current interventions are limited to palliative surgical procedures and dietary modifications.

Institutional and retail investors funding the clinical development stage

As a clinical-stage biotechnology company, Benitec Biopharma Inc. relies heavily on capital markets to fund its Research and Development expenses, which were $18.3 million for the full year ended June 30, 2025.

Investors provide the necessary runway to reach commercialization milestones, which is reflected in recent financing activities and the company's cash position.

Here's the quick math on recent capital activity and valuation as of late 2025:

Financial Metric	Amount/Value (As of Late 2025)	Date/Context
Cash and Equivalents	$94.5 million	September 30, 2025
Gross Proceeds from Nov 2025 Financing	Approximately $100 million	November 2025 equity financing
Gross Proceeds from March 2025 Offering	$30 million	March 2025 combined stock offering
Current Market Capitalization	$414.1M	December 1, 2025
Loss from Operations	$37.9 million	Full Year Ended June 30, 2025

The November 2025 equity financing involved selling common stock at an offering price of $13.50 per share. The most recent analyst price target suggests a potential upside, with a rating of Buy and a target of $32.00. What this estimate hides, though, is the inherent risk associated with pre-commercial biotech, as reflected by the net loss attributable to shareholders of $37.9 million for the fiscal year ended June 30, 2025.

Finance: draft 13-week cash view by Friday.

Benitec Biopharma Inc. (BNTC) - Canvas Business Model: Cost Structure

You're looking at the cost side of Benitec Biopharma Inc.'s operations as of late 2025, which is heavily weighted toward advancing its clinical pipeline, specifically the BB-301 program for Oculopharyngeal Muscular Dystrophy (OPMD). The cost structure is dominated by the necessary, non-revenue-generating activities inherent in a clinical-stage biotechnology firm.

For the full year ended June 30, 2025, Benitec Biopharma Inc. reported total expenses of $41.8 million, a significant increase from the $22.5 million reported for the year ended June 30, 2024. This escalation reflects the ramp-up in clinical development activities.

Here's a quick breakdown of the major components of that cost base:

Expense Category	FY2025 Amount (Year Ended June 30, 2025)	FY2024 Amount (Year Ended June 30, 2024)
Research and Development (R&D) expenses	$18.3 million	$15.6 million
General and Administrative (G&A) expenses	$23.4 million	$7.0 million
Total Expenses	$41.8 million	$22.5 million

The Research and Development (R&D) expenses totaled $18.3 million for FY2025. This spending is primarily tied to the ongoing clinical development of BB-301 for OPMD. Honestly, this is where the bulk of the future value creation is being funded.

The increase in R&D expenses from the prior year reflected specific operational timings. You should note these drivers:

• Timing of contract manufacturing activities for the drug product.
• Payments associated with the OPMD Natural History and Dosing study.

Clinical trial costs are embedded within R&D, covering everything from manufacturing the investigational product to managing the trial sites. For Benitec Biopharma Inc., this includes the costs for patient enrollment and the ongoing monitoring of subjects in the BB-301 Phase 1b/2a Treatment Study, which saw Cohort 2 enrollment expected to begin in calendar Q4 2025.

General and Administrative (G&A) expenses saw a very sharp rise, totaling $23.4 million in FY2025 compared to $7.0 million in FY2024. This jump wasn't just routine overhead; it was driven by specific, non-cash and operational factors.

The primary drivers for the G&A increase were significant non-operating or non-recurring costs:

• Share-based compensation expense: This was a major factor, totaling $14.5 million for the year. That's a substantial non-cash charge that directly impacts the reported G&A line.
• Increases in professional and operational support fees.

Intellectual property maintenance and legal fees are a constant, necessary cost for a company built on proprietary platforms like Benitec Biopharma Inc.'s "Silence and Replace" ddRNAi technology. For FY2025, the increase in legal fees alone contributed $492,000 to the higher G&A total. Other contributing factors to the G&A rise included consulting fees of $605,000 and increases in salaries and wages of $685,000.

Benitec Biopharma Inc. (BNTC) - Canvas Business Model: Revenue Streams

You're looking at the current financial reality for Benitec Biopharma Inc. (BNTC) as of late 2025. Right now, the model is entirely dependent on capital raises to fund development, not product sales.

Currently $0 in product revenue reflects the pre-commercial stage of Benitec Biopharma Inc. The Trailing Twelve Months (TTM) Revenue as of November 2025 stands at $0.00.

Metric	Amount (USD)	Date/Period
Revenue TTM	$0.00	November 2025
Annual Revenue	$80K	2023
Annual Revenue	$70K	2022
Net Loss Attributable to Shareholders	$37.9 million	Year Ended June 30, 2025

Future revenue hinges on the successful commercial sales of BB-301 following regulatory approval. The clinical progress supports this potential stream; for instance, the Phase 1b/2a interim results showed a 100% responder rate across all 6 patients in Cohort 1. The first patient in Cohort 2 was treated in Q4 of 2025.

Potential revenue also exists from out-licensed programs via milestone payments and royalties, though specific amounts aren't publically detailed in recent filings. This is a standard, albeit currently unrealized, component for a clinical-stage biotech.

The immediate financial lifeline comes from equity financing proceeds. You saw a significant capital raise close in November 2025 to fund the BB-301 registrational program.

• Aggregate gross proceeds from the November 2025 offering: approximately $100 million.
• Offering price per share in November 2025: $13.50.
• Cash and cash equivalents as of September 30, 2025: $94.5 million.
• Gross proceeds from a prior offering in March 2025: approximately $30 million.