Bempikibart is a monoclonal antibody commercialized by Q32 Bio, with a leading Phase II program in Atopic Dermatitis (Atopic Eczema). According to Globaldata, it is involved in 4 clinical trials, of which 1 was completed, 2 are ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of Bempikibart’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Bempikibart is expected to reach an annual total of $74 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.
Bempikibart Overview
bempikibart (ADX-914) is under development for the treatment of autoimmune, atopic dermatitis, alopecia areata and inflammatory diseases. It acts by targeting interleukin-7 receptor (IL-7R) and thymic stromal lymphopoietin (TSLP). It is a fully human monoclonal antibody. It is administered through subcutaneous route.
Q32 Bio Overview
Q32 Bio, formerly Homology Medicines Inc, is a genetic medicines company that discovers and develops gene therapies to treat genetic disorders. The company product pipeline includes HMI-102, a gene therapy for the treatment of phenylketonuria (PKU) and HMI-202, an investigational gene therapy targeting metachromatic leukodystrophy. It is also evaluating HMI-103, an investigational gene editing program for the treatment of pediatric phenylketonuria, and HMI-203, an investigational gene therapy for the treatment of Hunter syndrome. Homology gene-editing technology is used in DNA repairs and gene therapy. Its AAVHSC platform vectors deliver a functional gene to treat monogenic diseases in the liver, lung, none marrow and eye. Q32 Bio is headquartered in Bedford, Massachusetts, the US.
The company reported revenues of (US Dollars) US$1.2 million for the fiscal year ended December 2023 (FY2023), a decrease of 64% over FY2022. The operating loss of the company was US$92.7 million in FY2023, compared to an operating loss of US$2 million in FY2022. The net loss of the company was US$113 million in FY2023, compared to a net loss of US$5 million in FY2022.
For a complete picture of Bempikibart’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.
