AL-102 is a small molecule commercialized by Immunome, with a leading Phase I program in Relapsed Multiple Myeloma;Refractory Multiple Myeloma. According to Globaldata, it is involved in 3 clinical trials, of which 2 are ongoing, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of AL-102’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for AL-102 is expected to reach an annual total of $40 mn by 2035 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.
AL-102 Overview
AL-102 (formerly BMS-986115) is under development for the treatment of desmoid tumors, relapsed and refractory T-cell acute lymphoblastic leukemia (T-ALL) and relapsed/refractory multiple myeloma. It is administered orally. The drug candidate is a pan-notch gamma secretase inhibitor.
It was under development for the treatment of advanced solid tumors
Immunome Overview
Immunome is a biopharmaceutical company that discovers and develops antibodies based on drugs to treat infectious diseases. It is investigating IMM-ONC-01 drug that targets IL-38 (interleukin-38) for the treatment of solid tumors found in prostate, colorectal and lung cancers; and IMM-BCP-01, an anti-infective drug targeting multiple SARS-Cov-2 proteins. The company utilizes its immunome discovery platform to develop antibodies. It seeks to work in partnership with pharmaceutical companies, government agencies, universities and global health organizations to develop new treatments. Immunome is headquartered in Exton, Pennsylvania, the US.
The company reported revenues of (US Dollars) US$14 million for the fiscal year ended December 2023 (FY2023). The operating loss of the company was US$109.5 million in FY2023, compared to an operating loss of US$36.9 million in FY2022. The net loss of the company was US$106.8 million in FY2023, compared to a net loss of US$36.9 million in FY2022.
The company reported revenues of US$2.4 million for the second quarter ended June 2024, compared to a revenue of US$1 million the previous quarter.
For a complete picture of AL-102’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.
