Mirdametinib is a small molecule commercialized by SpringWorks Therapeutics, with a leading Phase II program in Neurofibromatoses Type I (Von Recklinghausen’s Disease). According to Globaldata, it is involved in 17 clinical trials, of which 7 were completed, 6 are ongoing, 1 is planned, and 3 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Mirdametinib’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Mirdametinib is expected to reach an annual total of $203 mn by 2034 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.
Mirdametinib Overview
mirdametinib (PD-0325901) is under development for the treatment of neurofibromatosis type-1 (NF1)-associated plexiform neurofibromas (PNs), non-small cell lung cancer, low-grade glioma, colorectal cancer, ovarian cancer, endometrial cancer, thyroid cancer, melanoma, pancreatic cancer, Langerhans cell histiocytosis, cutaneous neurofibromas and other solid tumors. The therapeutic candidate is administered through oral route. PD0325901 is a bioavailable, synthetic organic molecule targeting mitogen-activated protein kinase (MAPK/ERK kinase or MEK) with potential antineoplastic activity. It was under development for the treatment of colon cancer, breast cancer, melanoma and non-small cell lung cancer. It is under development for the treatment of ER+ metastatic breast cancer and advanced solid tumors. It acts by targeting MEK1 or MEK2.
SpringWorks Therapeutics Overview
SpringWorks Therapeutics is a drug development company that develops therapeutic medicines for various diseases. The company’s pipeline products include Nirogacestat, MEK ½ Inhibitor, Senicapoc and FAAH Inhibitor. Its Nirogacestat is a gamma-secretase inhibitor used for the treatment of Desmoid tumors. SpringWorks Therapeutics’ Senicapoc is a Gardos channel blocker used for the treatment of hereditary xerocytosis. The company’s FAAH Inhibitor is used for the treatment of post-traumatic stress disorder. It partners with biopharmaceutical companies, scientists, patient groups and philanthropists. SpringWorks Therapeutics is headquartered in Stamford, Connecticut, the US.
The operating loss of the company was US$280.7 million in FY2022, compared to an operating loss of US$173.5 million in FY2021. The net loss of the company was US$277.4 million in FY2022, compared to a net loss of US$173.9 million in FY2021.
For a complete picture of Mirdametinib’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.
