LB-1908 is a gene-modified cell therapy commercialized by Legend Biotech, with a leading Phase I program in Adenocarcinoma Of The Gastroesophageal Junction. According to Globaldata, it is involved in 2 clinical trials, of which 1 is ongoing, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of LB-1908’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for LB-1908 is expected to reach an annual total of $36 mn by 2039 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.
LB-1908 Overview
LB-1908 (LCAR-C18S) is under development for the treatment of relapsed or refractory gastric cancer, esophageal cancer, gastro-esophageal junction adenocarcinoma and metastatic adenocarcinoma pancreas. The therapy comprises of autologous T-cells genetically engineered to express chimeric antigen receptors (CAR) targeting cells expressing claudin18.2 (CLDN18.2). It is administered through intravenous route. It was also under development for pancreatic cancer, gastric cancer and esophageal cancer.
Legend Biotech Overview
Legend Biotech, a subsidiary of Genscript Biotech Corp, develops, manufactures, and commercializes novel therapies to treat life-threatening diseases. The company develops advanced cell therapies across a diverse array of technology platforms, including autologous and allogeneic chimeric antigen receptor T-cell, gamma-delta T cell and natural killer (NK) cell-based immunotherapy. Legend Biotech also operates research and development sites. The company operates in the Americas and Europe. Legend Biotech is headquartered in Piscataway, New Jersey, the US.
The company reported revenues of (US Dollars) US$285.1 million for the fiscal year ended December 2023 (FY2023), compared to a revenue of US$117 million in FY2022. The operating loss of the company was US$528 million in FY2023, compared to an operating loss of US$437.2 million in FY2022. The net loss of the company was US$518.3 million in FY2023, compared to a net loss of US$446.4 million in FY2022.
For a complete picture of LB-1908’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.
