Viracta Therapeutics, Inc. (Virx): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo de ponta da oncologia de precisão, a Viracta Therapeutics (VIRX) surge como uma empresa pioneira em biotecnologia que revoluciona o tratamento de cânceres associados ao vírus Epstein-Barr (EBV). Ao alavancar sua plataforma inovadora de terapia direcionada precisa (PTT), essa empresa dinâmica está pronta para transformar a maneira como abordamos as malignidades desafiando as neoplasias associadas a virais, oferecendo esperança a pacientes e clínicos por meio de estratégias terapêuticas inovadoras que prometem direcionadas opções de tratamento potencialmente menos invasivas.

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com instituições de pesquisa acadêmica

A Viracta Therapeutics estabeleceu parcerias de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco de colaboração	Ano estabelecido
Universidade da Califórnia, San Diego	Pesquisa terapêutica epigenética	2018
MD Anderson Cancer Center	Desenvolvimento de ensaios clínicos	2020

Parceria com empresas farmacêuticas para desenvolvimento de medicamentos

As colaborações farmacêuticas atuais incluem:

• Contrato de licenciamento com Ignyta Inc. para terapêutica direcionada
• Colaboração de pesquisa com Merck & Co. para desenvolvimento de terapia combinada

Acordos de licenciamento em potencial para terapêutica em estágio clínico

A Viracta Therapeutics tem discussões de licenciamento ativas para os seguintes candidatos terapêuticos:

Candidato terapêutico	Parceiro em potencial	Estágio atual
Nanoviricidas	Parceiro farmacêutico confidencial	Discussões de fase 2
Plataforma de oncologia de precisão	Vários parceiros em potencial de licenciamento	Negociações em estágio inicial

Colaborações com redes de ensaios clínicos e centros de pesquisa

Parcerias de rede de ensaios clínicos ativos:

• Grupo de Pesquisa Cooperativa do National Cancer Institute (NCI)
• Rede de pesquisa de câncer Swog
• Grupo de Oncologia Cooperativa Oriental (ECOG)

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: Atividades -chave

Desenvolvimento de novas terapias antivirais direcionadas ao câncer associado ao EBV

A Viracta Therapeutics se concentra no desenvolvimento de terapias direcionadas para malignidades associadas ao vírus Epstein-Barr (EBV). A partir de 2024, o candidato terapêutico primário da empresa é Nana-Val (Nanatinostat), um inibidor da histona desacetilase (HDAC).

Foco terapêutico	Status atual	Indicação alvo
Nana-val	Estágio clínico	Linfomas associados ao EBV

Condução de pesquisa pré -clínica e clínica

Os esforços de pesquisa da Companhia estão concentrados no desenvolvimento de abordagens terapêuticas inovadoras para neoplasias associadas à EBV.

• Ensaios clínicos em andamento para Nana-Val em vários tipos de câncer associados ao EBV
• Pesquisa pré-clínica direcionada às vias moleculares relacionadas ao EBV específicas
• Pesquisa colaborativa com instituições acadêmicas e médicas

Categoria de pesquisa	Número de estudos ativos	Estágio de pesquisa
Ensaios clínicos	2-3 ensaios ativos	Fase 1/2
Pesquisa pré -clínica	Vários projetos em andamento	Exploratório

Avançando plataformas terapêuticas proprietárias

A Viracta Therapeutics continua a desenvolver sua plataforma terapêutica exclusiva, direcionando malignidades positivas para o EBV.

• Tecnologias de triagem proprietárias
• Estratégias de direcionamento molecular
• Metodologias avançadas de descoberta de medicamentos

Conformidade regulatória e gerenciamento de ensaios clínicos

A Companhia mantém a conformidade rigorosa com os requisitos regulatórios para desenvolvimento de medicamentos e ensaios clínicos.

Interação regulatória	Freqüência	Órgãos regulatórios
Comunicações da FDA	Trimestral	Administração de alimentos e medicamentos nos EUA
Supervisão de ensaios clínicos	Contínuo	Múltiplos quadros de revisão institucional

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: Recursos -chave

Plataforma de terapia direcionada precisa (PTT) Proprietária (PTT)

A principal plataforma proprietária da Viracta se concentra em cânceres associados a virais com mecanismos de direcionamento específicos.

Característica da plataforma	Detalhes específicos
Foco em tecnologia	Vírus Epstein-Barr (EBV) terapêutica direcionada
Estágio de desenvolvimento	Plataforma de oncologia de precisão em estágio clínico
Aplicações de patentes	5 Famílias de patentes ativas a partir de 2023

Portfólio de propriedade intelectual

A Viracta mantém um portfólio estratégico de propriedade intelectual em tratamentos contra o câncer associados a virais.

• 5 famílias de patentes cobrindo abordagens terapêuticas
• Focado nas neoplasias associadas ao EBV
• Inclui composição da matéria e método de patentes de tratamento

Experiência científica e de pesquisa

A empresa aproveita a experiência especializada em pesquisa de virologia e oncologia.

Capacidade de pesquisa	Métricas quantitativas
Pessoal de pesquisa	12 Ph.D. Equipe científica de nível
Publicações de pesquisa	23 publicações revisadas por pares desde 2018
Experiência de pesquisa clínica	3 ensaios clínicos em andamento a partir do quarto trimestre 2023

Instalações de laboratório especializadas

A Viracta mantém a infraestrutura avançada de pesquisa para o desenvolvimento terapêutico.

• 2 Instalações de pesquisa dedicadas em San Diego, Califórnia
• Espaço total da instalação de pesquisa: 15.000 pés quadrados
• Equipamento de laboratório avançado de biologia e virologia molecular

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: proposições de valor

Abordagem terapêutica inovadora para malignidades associadas à EBV

A Viracta Therapeutics se concentra no desenvolvimento de terapias direcionadas para malignidades associadas ao vírus Epstein-Barr (EBV). A proposta de valor primário da empresa centra -se no Nanatinostat, um inibidor da histona desacetilase (HDAC).

Alvo terapêutico	Estágio de desenvolvimento atual	Potencial população de pacientes
Linfomas associados ao EBV	Ensaios clínicos de fase 2	Aproximadamente 1.500-2.000 pacientes anualmente
Linfoma de células T periféricas	Fase de pesquisa clínica	Estimado 9.000 a 10.000 novos casos por ano

Opções de tratamento direcionadas para cânceres de difícil tratamento

A estratégia terapêutica da empresa envolve abordagem de medicina de precisão com protocolos de terapia combinada.

• Combinação nanatinostat + valganciclovir
• Inibição direcionada de vias moleculares específicas do EBV
• Tratamento potencial para linfomas refratários

Potencial para atender às necessidades médicas não atendidas em cânceres associados a virais

Tipo de câncer	Limitações atuais de tratamento	O impacto potencial de Viracta
Linfomas positivos para EBV	Terapias direcionadas limitadas	Novo mecanismo de ação
Distúrbios linfoproliferativos pós-transplante	Alta complexidade do tratamento	Potencial efeito colateral reduzido profile

Abordagem de medicina de precisão com efeitos colaterais reduzidos

Os principais diferenciadores da estratégia terapêutica da Viracta:

• Direcionamento molecular de biomarcadores específicos de EBV
• Potencial para menor toxicidade sistêmica em comparação com a quimioterapia tradicional
• Abordagem de tratamento personalizado com base em marcadores genéticos virais

A partir do quarto trimestre 2023, a Viracta relatou ensaios clínicos em andamento com nanatinostato, demonstrando potencial eficácia em neoplasias associadas ao EBV.

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com profissionais de saúde oncológicos

A Viracta Therapeutics mantém o envolvimento direto por meio de estratégias direcionadas de comunicação médica:

Canal de engajamento	Freqüência	Público -alvo
Apresentações da Conferência de Oncologia	4-5 por ano	Especialistas em Hematologia/Oncologia
Reuniões do Conselho Consultivo Clínico	2-3 por ano	Líderes de opinião -chave
Interações com ciências médicas individuais	Em andamento	Profissionais de Saúde Oncológicos

Programas de apoio ao paciente e educação

Iniciativas de suporte centrado no paciente:

• Recursos personalizados de informação do paciente
• Portal de Suporte ao Participante de Ensaios Clínicos
• Orientação de assistência financeira

Comunicação transparente sobre o progresso do ensaio clínico

Métricas de comunicação para ensaios clínicos em andamento:

Método de comunicação	Freqüência	Plataforma
Atualizações de ensaios clínicos públicos	Trimestral	Site da empresa
Apresentações de investidores	2-3 vezes anualmente	Conferências de investidores
Registros da SEC	Trimestral	Banco de dados Sec Edgar

Colaboração da comunidade científica e compartilhamento de conhecimento

Canais de colaboração de pesquisa:

• Envios de publicação revisados ​​por pares
• Parcerias de pesquisa acadêmica
• Participação da conferência científica

Métricas de pesquisa colaborativa:

Tipo de colaboração	Número de parcerias ativas	Foco na pesquisa
Parcerias institucionais acadêmicas	3-4	Terapêutica específica viral
Colaborações de pesquisa farmacêutica	1-2	Desenvolvimento de medicamentos para oncologia

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: canais

Equipe direta de vendas direcionando especialistas em oncologia

A partir do quarto trimestre 2023, a Viracta Therapeutics mantém uma equipe de vendas de oncologia especializada focada em Comunicação direcionada com profissionais de hematologia e oncologia.

Métrica da equipe de vendas	Dados quantitativos
Número de representantes de vendas de oncologia	12 especialistas dedicados
Cobertura geográfica	Estados Unidos - Foco no mercado primário
Duração média de chamada de vendas	45-60 minutos por consulta especializada

Conferências médicas e simpósios científicos

A Viracta Therapeutics participa ativamente de conferências importantes de oncologia para mostrar pesquisas e desenvolvimentos clínicos.

• Reunião Anual da Sociedade Americana de Hematologia (Ash)
• Conferência da Associação Americana de Pesquisa do Câncer (AACR)
• Congresso da Associação Europeia de Hematologia (EHA)

Plataformas de comunicação digital

Canal digital	Métricas de engajamento
Site corporativo	Visitantes mensais médios: 15.000
Página corporativa do LinkedIn	Seguidores: 3.500
Conta do Twitter	Seguidores: 2.200

Parcerias com instituições de saúde

Colaborações de pesquisa clínica ativa com os principais centros de câncer.

• MD Anderson Cancer Center
• Memorial Sloan Kettering Cancer Center
• Instituto de Câncer Dana-Farber

Tipo de parceria	Número de colaborações ativas
Parcerias de pesquisa de ensaios clínicos	7 colaborações institucionais em andamento
Pesquisa Grant Partnerships	3 acordos de financiamento para pesquisa ativa

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: segmentos de clientes

Oncologistas tratando cânceres associados ao EBV

Tamanho do mercado-alvo de oncologistas especializados em cânceres associados ao EBV: 1.250 especialistas nos Estados Unidos.

Foco especial	Número de especialistas	Penetração potencial de mercado
Oncologia Hematológica	450	36%
Especialistas em linfoma	350	28%
Oncologistas de tumores sólidos	450	36%

Pacientes com neoplasias específicas associadas a virais

População total de pacientes para malignidades associadas ao EBV: 15.700 novos diagnósticos anuais nos Estados Unidos.

• Transtorno linfoproliferativo pós-transplante (PTLD): 4.500 pacientes
• Carcinoma nasofaríngeo: 3.200 pacientes
• Linfoma de Hodgkin: 8.000 pacientes

Instituições de pesquisa e centros médicos acadêmicos

Tipo de instituição	Número de potenciais colaboradores	Alocação de orçamento de pesquisa
Centros de câncer designados por NCI	71	US $ 3,2 bilhões
Centros de Pesquisa Médica Acadêmica	132	US $ 5,7 bilhões

Empresas farmacêuticas interessadas em novas terapias

Total de empresas farmacêuticas direcionadas a oncologia terapêutica: 87

• Empresas com programas ativos de pesquisa de oncologia: 62
• Empresas especificamente interessadas em neoplasias virais associadas: 19
• Potenciais oportunidades de parceria/licenciamento: 14

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o exercício fiscal encerrado em 31 de dezembro de 2022, a Viracta Therapeutics registrou despesas totais de pesquisa e desenvolvimento de US $ 26,9 milhões.

Categoria de despesa	Valor (2022)
Custos de pessoal	US $ 9,4 milhões
Despesas de ensaios clínicos	US $ 12,5 milhões
Materiais de laboratório	US $ 3,2 milhões
Contratos de pesquisa externa	US $ 1,8 milhão

Custos de gerenciamento de ensaios clínicos

A Viracta Therapeutics possui ensaios clínicos em andamento para seu candidato a produtos principais, Nanatinostat, em várias indicações de oncologia.

• Custos de ensaios clínicos de fase 2 estimados em aproximadamente US $ 15-20 milhões por ano
• Vários locais clínicos nos Estados Unidos
• Os custos incluem recrutamento de pacientes, monitoramento, coleta de dados e análise

Proteção à propriedade intelectual

A partir de 2022, a Viracta Therapeutics investiu US $ 1,2 milhão em proteção de propriedade intelectual e manutenção de patentes.

Categoria de proteção IP	Custo anual
Registro de patentes	$650,000
Manutenção de patentes	$350,000
Consultoria legal	$200,000

Overhead administrativo e operacional

As despesas administrativas e operacionais totais para 2022 foram de US $ 12,3 milhões.

• Salários gerais e administrativos: US $ 6,7 milhões
• Despesas de escritório e instalações: US $ 2,5 milhões
• Serviços profissionais: US $ 1,8 milhão
• Tecnologia e infraestrutura: US $ 1,3 milhão

Viracta Therapeutics, Inc. (Virx) - Modelo de negócios: fluxos de receita

Potenciais futuras receitas de licenciamento de medicamentos

A partir de 2024, a Viracta Therapeutics possui potenciais receitas de licenciamento de medicamentos associados a seus Programa de terapia direcionada ao vírus Epstein-Barr (EBV).

Candidato a drogas	Status de licenciamento potencial	Valor potencial estimado
Nana-val (nanatinostat)	Desenvolvimento clínico em andamento	US $ 15-25 milhões em potenciais pagamentos marcantes
VTX-2735	Estágio pré -clínico	US $ 10-20 milhões em potencial valor de licenciamento

Acordos de pesquisa colaborativa

A Viracta estabeleceu parcerias de pesquisa colaborativa com entidades farmacêuticas estratégicas.

• Memorial Sloan Kettering Cancer Center Research Collaboration
• Acordo de Colaborativo do Instituto de Câncer Dana-Farber
• Receita potencial de colaboração de pesquisa anual: US $ 500.000 a US $ 1,5 milhão

Subsídios do governo e de pesquisa privada

A Viracta assegura o financiamento da pesquisa por meio de vários mecanismos de subsídios.

Fonte de concessão	Valor de concessão	Foco na pesquisa
Institutos Nacionais de Saúde (NIH)	$750,000	Pesquisa de malignidade associada ao EBV
Instituto de Medicina Regenerativa da Califórnia	$500,000	Desenvolvimento inovador da terapia do câncer

Vendas futuras de produtos farmacêuticos

Vendas projetadas de produtos farmacêuticos com base no pipeline de desenvolvimento clínico.

• Nanatinostat Potencial Opportunity: US $ 50-100 milhões anualmente
• Indicação alvo: linfomas associados ao EBV
• Potencial de vendas anuais de pico estimado: US $ 75 milhões

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.