TOUR-006 is a monoclonal antibody commercialized by Tourmaline Bio, with a leading Phase II program in Graves’ Ophthalmopathy. According to Globaldata, it is involved in 8 clinical trials, of which 5 were completed, 2 are ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of TOUR-006’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for TOUR-006 is expected to reach an annual total of $212 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.
TOUR-006 Overview
TOUR-006 is under development for thyroid eye disease (TED), chronic kidney disease and atherosclerotic cardiovascular disease (ASCVD). The drug candidate is a new biological entity (NBE). It is administered through subcutaneous route. It is a human antibody that acts by targeting Interleukin 6. It was under development for the treatment of Crohn’s disease, rheumatoid arthritis and systemic lupus erythematosus by Pfizer.
Tourmaline Bio Overview
Tourmaline Bio (Tourmaline), formerly Talaris Therapeutics Inc, is a late-stage biotechnology company that develops transformative medicines for immune diseases. The company’s lead drug candidate TOUR006, is an anti-interleukin-(IL-6) antibody that exhibits differentiated properties including high binding affinity to interleukin 6 (IL-6) and a long half-life that treats thyroid eye disease (TED) and atherosclerotic cardiovascular disease (ASCVD). It’s anti-IL-6 and anti-IL-6 receptor (IL-6R) antibody also treats autoimmune and inflammatory diseases. Tourmaline is headquartered in New York city, New York, the US.
The operating loss of the company was US$45.4 million in FY2023, compared to an operating loss of US$76.5 million in FY2022. The net loss of the company was US$42.1 million in FY2023, compared to a net loss of US$73.9 million in FY2022.
For a complete picture of TOUR-006’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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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.
