Ixoberogene soroparvovec is a gene therapy commercialized by Adverum Biotechnologies, with a leading Phase II program in Wet (Neovascular / Exudative) Macular Degeneration. According to Globaldata, it is involved in 6 clinical trials, of which 2 were completed, 3 are ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of Ixoberogene soroparvovec’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Ixoberogene soroparvovec is expected to reach an annual total of $60 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.
Ixoberogene soroparvovec Overview
Ixoberogene soroparvovec is under development for the treatment of wet age-related macular degeneration (wAMD, wet exudative macular degeneration). The drug candidate is a vector based anti-VEGF cDNA administered through intravitreal route. It acts by targeting vascular endothelial growth factor (VEGF). It is developed based on next generation adeno-associated virus (AAV)-based directed evolution platform. It was under development for the treatment of diabetic retinopathy including diabetic macular edema.
Adverum Biotechnologies Overview
Adverum Biotechnologies (Adverum) is a clinical-stage gene therapy company. The company focuses on developing therapies to treat ocular diseases. Its product pipeline includes an Ixo-vec drug candidate to treat wet age-related macular degeneration (AMD); ADVM for the treatment of blue cone monochromacy (BCM); and LX2006 GTx to treat Friedrich’s ataxia. Adverum also develops other drug programs for retinitis pigmentosa and geographic atrophy. The company develops drugs in collaboration with Gensight Biologics, Lexeo Therapeutics, and Ray Therapeutics. Adverum is headquartered in Redwood City, California, the US.
The company reported revenues of (US Dollars) US$3.6 million for the fiscal year ended December 2023 (FY2023). The operating loss of the company was US$124 million in FY2023, compared to an operating loss of US$157.1 million in FY2022. The net loss of the company was US$117.2 million in FY2023, compared to a net loss of US$154.5 million in FY2022.
For a complete picture of Ixoberogene soroparvovec’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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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.
