Povetacicept is a fusion protein commercialized by Alpine Immune Sciences, with a leading Phase II program in Idiopathic Thrombocytopenic Purpura (Immune Thrombocytopenic Purpura). According to Globaldata, it is involved in 7 clinical trials, of which 1 was completed, 2 are ongoing, and 4 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of Povetacicept’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Povetacicept is expected to reach an annual total of $414 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.
Povetacicept Overview
Povetacicept is under development for the treatment of myasthenia gravis, systemic lupus erythematosus, membranous glomerulonephritis, Sjogren's syndrome, proteinuria in IgA nephropathy (Berger's Disease), lupus nephritis, immune thrombocytopenia, acquired (autoimmune) hemolytic anemia, cold agglutinin disease, unspecified antibody-related neurological diseases and autoimmune encephalitis (post-infectious). It is administered through intravenous and subcutaneous route. The drug candidate is an engineered B-cell modulator. It acts by targeting BAFF and APRIL.
It was also under development for pemphigus foliaceus, pemphigus vulgaris and bullous pemphigoid.
Alpine Immune Sciences Overview
Alpine Immune Sciences (Alpine), formerly Nivalis Therapeutics Inc, is a pharmaceutical company. The company focuses on discovering and developing protein-based immunotherapies to treat cancer and autoimmune and inflammatory diseases. It provides ALPN-101 and ALPN-303 for the treatment of based immunotherapies and immune synapses to treat cancer and autoimmune and inflammatory diseases. The company also provides ALPN-202, a conditional CD28 costimulator and dual checkpoint inhibitor for the treatment of cancer. It offers a proprietary scientific platform that converts native immune system proteins into differentiated, multi-targeted therapeutics. Alpine is headquartered in Seattle, Washington, the US.
The company reported revenues of (US Dollars) US$58.9 million for the fiscal year ended December 2023 (FY2023), an increase of 95.8% over FY2022. The operating loss of the company was US$44.3 million in FY2023, compared to an operating loss of US$58.2 million in FY2022. The net loss of the company was US$32.2 million in FY2023, compared to a net loss of US$57.8 million in FY2022.
The company reported revenues of US$7 million for the first quarter ended March 2024, a decrease of 77.2% over the previous quarter.
For a complete picture of Povetacicept’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.
