The revenue for AFM-13 is expected to reach an annual total of $74 mn by 2039 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.
AFM-13 Overview
AFM-13 is under development for the treatment of refractory and relapsed Hodgkin lymphoma, CD30+ lymphoma such as transformed mycosis fungoides, peripheral and cutaneous T-cell lymphoma, angioimmunoblastic T cell lymphoma, large B-cell lymphoma, B-cell non-Hodgkin lymphoma, Hodgkin lymphoma combination with check point inhibitors and Hodgkin lymphoma combination with lenalidomide. The drug candidate is administered intravenously. AFM-13 is a bi-specific, tetravalent human antibody, it acts by targeting CD30/CD16A.
Affimed Overview
Affimed, is a clinical-stage biopharmaceutical company focused on discovering and developing cancer immunotherapies. It develops pipeline products for the treatment of cancers. The pipleline products includes AFM13, AFM24, AFM28. AFM13 is a first of its kind ICE that is intended to treat certain CD30-positive (CD30+) cancers, such as Hodgkin lymphoma and other types of lymphomas. AFM24 is an epidermal growth factor receptor. AFM24 was developed to address limitations of current therapeutic anti-EGFR monoclonal antibodies, such as treatment resistance or toxicities. The company develops products from the proprietary fit-for-purpose ROCK platform. Affimed is headquartered in Heidelberg, Baden-Wurttemberg, Germany.
The company reported revenues of (Euro) EUR41.4 million for the fiscal year ended December 2022 (FY2022), an increase of 2.4% over FY2021. The operating loss of the company was EUR88.1 million in FY2022, compared to an operating loss of EUR64 million in FY2021. The net loss of the company was EUR86 million in FY2022, compared to a net loss of EUR57.5 million in FY2021. The company reported revenues of EUR4.5 million for the first quarter ended March 2023, a decrease of 59.6% over the previous quarter.
For a complete picture of AFM-13’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.
The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.