| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | n/a | |
| Graham Formula | n/a |
PainReform Ltd. (NASDAQ: PRFX) is a clinical-stage specialty pharmaceutical company focused on developing innovative therapeutics for extended post-surgical pain relief. Headquartered in Tel Aviv, Israel, the company's lead candidate, PRF-110, is a viscous oil-based solution designed to be instilled directly into surgical wounds, providing localized and prolonged analgesia. Currently, PRF-110 is undergoing two Phase 3 clinical trials for bunionectomy and hernia repair surgeries, targeting a significant unmet need in post-operative pain management. Operating in the Drug Manufacturers - Specialty & Generic sector, PainReform aims to reduce reliance on systemic opioids, addressing both patient discomfort and the opioid crisis. With no commercial revenue yet, the company's valuation hinges on clinical trial success and future commercialization potential. PainReform's niche focus on localized pain relief positions it uniquely in the $50B+ global post-surgical pain market.
PainReform presents a high-risk, high-reward opportunity for speculative biotech investors. The company's near-zero revenue and negative EPS (-$32.16) reflect its pre-commercial stage, with investment appeal tied entirely to PRF-110's Phase 3 trial outcomes. A $4M market cap suggests significant upside if trials succeed, but bankruptcy risk exists given the $4.3M cash position against $12.6M annual operating burn. The 0.688 beta indicates lower volatility than biotech peers, possibly due to limited trading liquidity. Key catalysts include 2024 Phase 3 data readouts and potential partnership announcements. Investors must weigh the addressable market (12M+ annual U.S. bunionectomy/hernia procedures) against development risks and future dilution needs.
PainReform competes in the localized post-surgical analgesia segment through PRF-110's unique extended-release mechanism. Unlike systemic opioids or short-acting local anesthetics, PRF-110 aims to provide 72+ hours of pain relief from a single intraoperative application—a duration advantage over current standards like bupivacaine liposome injectable suspension (Exparel). The company's minimalist pipeline (single asset) allows focused resources but increases binary risk. Regulatory advantages include PRF-110's 505(b)(2) pathway, potentially accelerating approval by leveraging existing drug safety data. However, commercial scalability challenges loom against entrenched competitors with existing wound infiltration products. PainReform's micro-cap structure limits commercialization capabilities, making partnership or acquisition likely if trials succeed. The technology's defensibility appears moderate—while formulation patents exist (extending to 2037), competitors could develop similar extended-release local anesthetics. Market positioning hinges on demonstrating superior cost-efficacy versus Exparel's $285/dose price point in value-based surgical bundles.