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Hepatitis C: one US-listed biotech with a clinical-stage programme

Infectious Disease & VaccinesUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$467Muniverse median $1.20B
Allocated capital$467M$467M competing
Phase 3 or filed10 mid, 0 early
Pure plays1this indication only
Capital rank208/299crowding rank 213

Hepatitis C is uncontested. Atea Pharmaceuticals (AVIR) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with Bemnifosbuvir-Ruzasvir in phase 3.

There is no public comparable to price it against, and AVIR runs clinical programmes in this indication and nothing else, so its $467M market cap is a direct read on what the market thinks this programme is worth.

The one programme here is in late-stage development, with 1 dated catalyst in the next 12 months.

$467M of allocated capital sits in Hepatitis C, ranking it 208th of 299 indications by the money committed to it.

Companies developing drugs for Hepatitis C 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
AVIRAtea PharmaceuticalsBemnifosbuvir-RuzasvirPhase 34$467MYes1 31 Dec 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Hepatitis C counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Hepatitis C has one competitor and a median of $467M.

Infectious Disease & Vaccines

Infectious Disease & Vaccines holds $16.5B of the map's capital, 2.5% of the total, spread across 13 indications and 10 companies. 0 of those indications have more than one company competing.

See every Infectious Disease & Vaccines indication on the map

Related indications in Infectious Disease & Vaccines

Chronic Hepatitis B1 company · $484M · median $1.9BUncontestedCompensated Chronic Hepatitis B1 company · $484M · median $1.9BUncontestedRSV Infection1 company · $408M · median $408MUncontestedSmallpox1 company · $232M · median $232MUncontestedSepsis1 company · $723M · median $8.7BUncontestedMycobacterium Abscessus Infection1 company · $771M · median $1.5BUncontestedIntra-Abdominal Infections1 company · $771M · median $1.5BUncontestedHepatitis B1 company · $13M · median $203MUncontested

Hepatitis C pipeline questions

Which biotech companies are developing drugs for Hepatitis C?

Atea Pharmaceuticals (AVIR, Bemnifosbuvir-Ruzasvir, Phase 3). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Hepatitis C.

How advanced is the Hepatitis C pipeline?

Of the 1 clinical-stage programme in Hepatitis C, 1 is in Phase 3 or filed, 0 are in mid-stage development and 0 are in early-stage development.

Is anyone else developing a drug for Hepatitis C?

No. AVIR is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Hepatitis C, which is why the indication is classified as uncontested.

When is the next Hepatitis C catalyst?

The next dated catalyst in Hepatitis C is AVIR on 31 Dec 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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