TSC-101 is a gene-modified cell therapy commercialized by TScan Therapeutics, with a leading Phase I program in Myelodysplastic Syndrome. According to Globaldata, it is involved in 2 clinical trials, of which 1 is ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of TSC-101’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for TSC-101 is expected to reach an annual total of $131 mn by 2038 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.
TSC-101 Overview
TSC-101 is under development for the treatment of blood cancers like acute myelocytic Leukemia, acute lymphocytic leukemia and myelodysplastic syndrome. The therapeutic candidate comprises of autologous T cells engineered to express a T-cell receptor (TCR) that targets HA-2 antigen. It is administered by intravenous route.The drug candidate is developed based on the TScan platform technology.
TScan Therapeutics Overview
TScan Therapeutics (TScan) is a clinical-stage biotechnology company. It focuses on the development of T cell receptor (TCR) engineered T cell therapies to treat cancer. The company’s pipeline products include TSC-100 and TSC-101 for the treatment of acute myeloid leukemia and myelodysplastic syndrome; and TSC-200 to treat head and neck, cervical, and anogenital cancer. TScan is also developing various other drug candidates for the treatment of non-small cell lung, melanoma, head and neck, and ovarian cancer. The company works in collaboration with Amgen to develop therapies for Crohn’s disease. TScan is headquartered in Waltham, Massachusetts, the US.
The company reported revenues of (US Dollars) US$21.1 million for the fiscal year ended December 2023 (FY2023), an increase of 55.5% over FY2022. The operating loss of the company was US$93.5 million in FY2023, compared to an operating loss of US$66.6 million in FY2022. The net loss of the company was US$89.2 million in FY2023, compared to a net loss of US$66.2 million in FY2022.
The company reported revenues of US$0.6 million for the first quarter ended March 2024, a decrease of 92.2% over the previous quarter.
For a complete picture of TSC-101’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.
