WinSanTor Inc. is a clinical-stage biotechnology company focused on the discovery and development of treatments for peripheral neuropathies, including diabetic peripheral neuropathy, chemo- and HIV-induced peripheral neuropathy, and others. It recently completed Phase 1 trials for its lead drug, WST-057, and will begin recruiting for its Phase 2 trials in Canada to treat patients with diabetic peripheral neuropathy.
WinSanTor has a drug in FDA trials that shows significant promise in combating neuropathy. Neuropathy causes debilitating loss of feeling, particularly in digits that can impede simple functions and even walking. It’s generally caused by diabetes, chemotherapy, or nervous system disease.
The disease affects almost 300 people globally. This is a significant global market opportunity without similar competing compounds. The company believes that a 5% US market for peripheral neuropathies alone would make WST-057 (drug under process for FDA approval) one of the top-grossing drugs globally. The drug has been in use in Western countries for 30 years which should be helpful to its approval process. In addition, WinSanTor has transitioned this compound from tablet form to topical.
The company faces competition for patients with peripheral neuropathy from companies that produce pain drugs, companies that are developing medical devices that treat peripheral neuropathy, and companies that are developing supplements that claim to treat peripheral neuropathy. Against these competitors, the company has strong economic MOAT in the form of the top KOLs, patents & other intellectual property, partners, and strategy.
The product proves validated science rewarded by innovation grants (>$40M) and licensing deals (>$200M + royalty). The company had a revenue of $11.95M in 2022 against $7.24M in 2021. The gross margin was 96.61% in 2022 compared to 85.68% in 2021. Over the period of April-June 2023, the company had an average revenue of $876k/month, COGS of $900/month, and operational expenses of $825.6k /month. The net profit for the same period was $49.6k/month implying that the company is profitable.