debt_leverage_profile
2.49x Total Debt / Equity (High leverage)
High
SEC-XBRL
interest_rate_sensitivity
Low direct sensitivity; minimal long-term debt, but rising rates increase cost of future equity/debt raises for cash-burn-stage biotech
Inferred
Agent_Inference
geopolitical_supply_exposure
Low intensity; China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Single-source biological raw material suppliers for microbiome consortia manufacturing; Lonza or equivalent CDMO concentration risk
Inferred
Agent_Inference
international_expansion_readiness
Minimal international revenue; U.S.-centric commercial launch of VOWST limits meaningful sovereign currency devaluation exposure currently
Inferred
Agent_Inference
geographic_footprint
Effectively 100% U.S. revenue; negligible exposure to foreign currency devaluation in international markets at this stage
Inferred
Agent_Inference
commodity_exposure_profile
Low intensity; commodities: Active Pharmaceutical Ingredients, Rare Earth Elements, Natural Gas (energy), Plastics/Resins, Ethanol, Packaging Materials; geopolitical: China and India supply >60% of global API inputs, creating concentration risk.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
High; CDMO manufacturing partner (likely single-source biologics facility) represents non-substitutable input for VOWST production
Inferred
Agent_Inference
business_model_type_primary
Cloud disruption moderate risk; clinical/regulatory data systems could be disrupted but core IP and manufacturing are not cloud-dependent
Inferred
Agent_Inference
business_model_type_secondary
Commercial operations (sales force automation, EHR integrations) would face 30-90 day disruption; not existential but operationally damaging
Inferred
Agent_Inference
switching_cost_profile
Moderate API coupling risk; EHR and pharmacy benefit manager integrations create switching friction but are not proprietary lock-in
Inferred
Agent_Inference
howey_test_risk_index
Low Howey Test risk; revenue model is FDA-approved pharmaceutical product sales, not investment contracts or token-based schemes
Inferred
Agent_Inference
regulatory_burden_tier
Very High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Moderate HIPAA exposure from patient microbiome data; GDPR exposure minimal given U.S.-only commercial footprint currently
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; niche microbiome therapeutic market, no dominant market share, faces competition from Ferring's Rebyota
Inferred
Agent_Inference
regulatory_exposure_profile
Very High burden; regimes: FDA, CMS, HHS, HIPAA, EMA, OIG; Drug pricing legislation and approval delays directly compress revenue visibility.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
Predominantly transactional; hospital and pharmacy unit sales of VOWST with no subscription component; ~0% recurring contract revenue
Inferred
Agent_Inference
monetization_vector
Per-unit drug sales through specialty pharmacy and hospital channels; WAC approximately $17,500 per treatment course
Inferred
Agent_Inference
pricing_architecture
Single-price per-course model vulnerable to formulary exclusion and PBM rebate pressure; no tiered or outcomes-based pricing currently
Inferred
Agent_Inference
pricing_power_rating
Moderate; clinical differentiation supports premium but payer pushback on microbiome therapeutics pricing is a near-term ceiling
Inferred
Agent_Inference
target_gross_margin_bracket
Target 60-70% gross margin at scale; currently below 50% due to CDMO manufacturing costs and low commercial volume
Inferred
Agent_Inference
churn_vulnerability_index
Low free-rider risk; prescription drug requiring physician Rx and pharmacy fulfillment; no meaningful off-label or generic substitution yet
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is partially headcount-linear; specialty sales force expansion required to penetrate new accounts, but manufacturing scale is sublinear
Inferred
Agent_Inference
marginal_cost_of_growth
Marginal cost declines with CDMO volume commitments; doubling revenue requires ~30-40% headcount increase, not 1:1 scaling
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; company is not a franchise model
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC improves via KOL network effects; estimated cost per prescribing physician drops ~60% with established formulary access
Inferred
Agent_Inference
network_effect_present
Weak network effects; physician adoption creates referral loops but no platform-based compounding network effect inherent to drug sales
Inferred
Agent_Inference
asset_efficiency_ratio
AI displacement risk low for manufacturing; moderate for medical affairs/market access functions where AI could reduce headcount 15-25%
Inferred
Agent_Inference
recession_resistance_tier
Moderate resilience; rCDiff is life-threatening condition driving non-discretionary treatment demand, but hospital budget cuts affect formulary access
Inferred
Agent_Inference
customer_segment_primary
Hospital systems and infectious disease/gastroenterology specialists; top 10 health systems likely represent 30-40% of near-term volume
Inferred
Agent_Inference
customer_segment_secondary
Specialty pharmacies and long-term care facilities treating recurrent C. difficile; secondary but growing channel for VOWST distribution
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "19-0000 Life, Physical, and Social Science Occupations", "21-0000 Community and Social Service Occupations", "23-0000 Legal Occupations", "29-0000 Healthcare Practitioners and Technical Occupations", "31-0000 Healthcare Support Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "51-0000 Production Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.32 (HIL — ~32% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
31.9% CapEx / Revenue (High-CapEx Infrastructure)
High
SEC-XBRL
sec_cik
0001609809
High
SEC-EDGAR
ticker
MCRB
High
SEC-EDGAR