The revenue for Bemarituzumab is expected to reach an annual total of $147 mn by 2036 globally 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.
Bemarituzumab Overview
Bemarituzumab [FPA-144] is under development for the treatment of solid tumors such as gastric cancer, gastroesophageal cancer, transitional cell carcinoma, lymphoma, bladder cancer, head and neck squamous cell carcinoma, lung adenocarcinoma, fallopian tube cancer, peritoneal cancer, esophageal squamous cell carcinoma, triple-negative breast cancer, pancreatic ductal adenocarcinoma, intrahepatic cholangiocarcinoma, colorectal adenocarcinoma, ovarian epithelial cell carcinoma, endometrial adenocarcinoma and cervical carcinoma. The drug candidate is administered through intravenous route. It is a humanized monoclonal antibody directed against a splice form of fibroblast growth factor receptor 2 (FGFR2). It is a targeted immunotherapy for FGFR2b-overexpressing tumors and designed to recruit tumor-killing NK cells into the tumor microenvironment. The drug candidate is developed based on Potelligent CHOK1SV technology. Potelligent CHOK1SV, combines the advantages of GS Gene Expression System with the glyco-engineered technology.
It was also under development for the treatment of breast cancer, squamous non-small cell lung cancer.
Zai Lab Overview
Zai Lab biopharmaceutical company that carries out drug development, discovery and commercializing therapies. The company product pipeline includes ZEJULA (niraparib), qinlock (ripretinib) NUZYRA (omadacycline) and optune (tumor treating fields). It includes discovering, developing and commercializing products that address medical conditions. Zai Lab therapeutic areas includes oncology, autoimmune disorders, infectious diseases and neuroscience. The company market its products to the United States, Europe, Canada, Australia, Greater China and certain other countries and regions. Zai Lab is headquartered in Shanghai, China.
The company reported revenues of (US Dollars) US$266.7 million for the fiscal year ended December 2023 (FY2023), an increase of 24% over FY2022. The operating loss of the company was US$366.6 million in FY2023, compared to an operating loss of US$404.4 million in FY2022. The net loss of the company was US$334.6 million in FY2023, compared to a net loss of US$443.3 million in FY2022.
For a complete picture of Bemarituzumab’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.