Veligrotug is a monoclonal antibody commercialized by Viridian Therapeutics, with a leading Phase III program in Graves’ Ophthalmopathy. According to Globaldata, it is involved in 8 clinical trials, of which 3 were completed, and 5 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Veligrotug’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Veligrotug is expected to reach an annual total of $266 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.
Veligrotug Overview
Veligrotug (AVE-1642) is under development for Grave's ophthalmopathy (thyroid eye disease). It is administered through intravenous, subcutaneous and parenteral route. It is a humanized monoclonal antibody directed against the human insulin-like growth factor-1 receptor (IGF-1R/CD221) with potential antineoplastic activity. The drug candidate is developed by using proprietary TAP technology.
It was under development for the treatment of recurrent, refractory multiple myeloma, advanced or metastatic liver carcinoma and advanced hormono dependent breast cancer.
Viridian Therapeutics Overview
Viridian Therapeutics (Viridian), formerly miRagen Therapeutics, focuses on the discovery and development of medicines for serious and rare diseases. The company’s major products in development are VRDN-001 and VRDN-003, which are aimed at treating thyroid eye disease (TED), and a portfolio of neonatal Fc receptor (FcRn) inhibitors, including VRDN-006 and VRDN-008, for autoimmune diseases. The company’s lead product candidate VRDN-001 is an intravenous humanized monoclonal antibody targeting IGF-1R, and VRDN-003 for subcutaneous administration, both aimed at treating thyroid eye disease (TED). The company develops novel RNA-based therapeutics, with a core focus on therapeutic antibodies and their roles in diseases. Viridian is headquartered in Waltham, Massachusetts, the US.
The company reported revenues of (US Dollars) US$0.3 million for the fiscal year ended December 2023 (FY2023), a decrease of 82.3% over FY2022. The operating loss of the company was US$254.5 million in FY2023, compared to an operating loss of US$134.3 million in FY2022. The net loss of the company was US$237.7 million in FY2023, compared to a net loss of US$129.9 million in FY2022.
The company reported revenues of US$0.1 million for the second quarter ended June 2024, compared to a revenue of US$0.1 million the previous quarter.
For a complete picture of Veligrotug’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.
