FB-102 is a monoclonal antibody commercialized by Forte Biosciences, with a leading Phase I program in Graft Versus Host Disease (GVHD). According to Globaldata, it is involved in 1 clinical trial, which is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of FB-102’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for FB-102 is expected to reach an annual total of $12 mn by 2038 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.
FB-102 Overview
Forte Biosciences Overview
Forte Biosciences is a biopharmaceutical company that develops and commercializes product candidates for the treatment of skin. The company offers lead product candidate such as FB-102. FB-102 is used for the for the treatment of autoimmune diseases such as Vitiligo and Alopecia Areata (AA). Alopecia Areata nonscarring hair loss generally on the scalp but can also other areas of the body. Vitiligo is an autoimmune disease in which the immune system attack melanocytes?. Its services include clinical trials. The company has operations across the US. Forte Biosciences is headquartered in Torrance, California, the US.
The operating loss of the company was US$32.5 million in FY2023, compared to an operating loss of US$13.9 million in FY2022. The net loss of the company was US$31.5 million in FY2023, compared to a net loss of US$13.9 million in FY2022.
For a complete picture of FB-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.
