The revenue for CB-012 is expected to reach an annual total of $11 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.
CB-012 Overview
CB-012 is under development for the treatment of refractory or relapsed acute myeloid leukemia. The therapeutic candidate comprises of allogeneic T-cells genetically modified to express chimeric antigen receptor (CAR) that targets cells expressing c-type lectin-like molecule-1 (CLL-1). It is being developed based on Cas12a chRDNA platform.
Caribou Biosciences Overview
Caribou Biosciences is a biopharmaceutical company that develops genome-edited allogeneic cell therapies for the treatment of cancer. It is investigating CB-010, an allogeneic anti-CD19 CAR-T (chimeric antigen receptor-T) cell therapy for B cell non-Hodgkin lymphoma; CB-011 drug against relapsed or refractory multiple myeloma; and CB-012 to treat acute myeloid leukemia (AML). The company is also evaluating CB-020, an iPSC-derived CAR-NK cell therapy for the treatment of solid tumors. Caribou Biosciences utilizes its proprietary chRDNA (CRISPR hybrid RNA-DNA) technology to develop genome-edited cell therapies by enabling improved genome-editing precision. It works in collaboration with AbbVie Inc and The Leukemia & Lymphoma Society to research and develop CAR-T cell products. Caribou Biosciences is headquartered in Berkeley, California, the US.
The company reported revenues of (US Dollars) US$13.9 million for the fiscal year ended December 2022 (FY2022), an increase of 44.3% over FY2021. The operating loss of the company was US$106.4 million in FY2022, compared to an operating loss of US$65.4 million in FY2021. The net loss of the company was US$99.4 million in FY2022, compared to a net loss of US$66.9 million in FY2021. The company reported revenues of US$23.7 million for the third quarter ended September 2023, compared to a revenue of US$3.8 million the previous quarter.
For a complete picture of CB-012’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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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.