APG-777 is a monoclonal antibody commercialized by Apogee Therapeutics, with a leading Phase II program in Atopic Dermatitis (Atopic Eczema). According to Globaldata, it is involved in 4 clinical trials, of which 2 are ongoing, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of APG-777’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for APG-777 is expected to reach an annual total of $520 mn by 2040 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.
APG-777 Overview
APG777 is under development for the treatment of atopic dermatitis and asthma. It is administered through subcutaneous route. The drug candidate acts by targeting interleukin 13 (IL-13).
Apogee Therapeutics Overview
Apogee Therapeutics (Apogee) is a clinical-stage biotechnology company. It focuses on the development of differentiated biologics for the treatment of various inflammatory and immune (I&I) diseases. Apogee’s pipeline products include APG777, APG808, APG990, and APG222, that are being developed for the treatment of atopic dermatitis (AD), chronic obstructive pulmonary disease (COPD), asthma, and other I&I diseases. Its products span across the healthcare industry, specifically in the treatment of chronic inflammatory skin disorders and progressive respiratory diseases. The company operates in France, Germany, Italy, Japan, the UK, Spain, and the US. Apogee is headquartered in Waltham, Massachusetts, the US.
The operating loss of the company was US$93 million in FY2023, compared to an operating loss of US$30.7 million in FY2022. The net loss of the company was US$84 million in FY2023, compared to a net loss of US$39.8 million in FY2022.
For a complete picture of APG-777’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.
