AB-729 is an antisense rnai oligonucleotide commercialized by Arbutus Biopharma, with a leading Phase II program in Hepatitis B. According to Globaldata, it is involved in 7 clinical trials, of which 6 are ongoing, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of AB-729’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for AB-729 is expected to reach an annual total of $34 mn by 2035 globally 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.

AB-729 Overview

AB-729 is under development for the treatment of hepatitis B virus (HBV) infection. It is administered through the subcutaneous route. The therapeutic candidate is next generation RNAi oligonucleotide. It is developed based on N-Acetylgalactosamine (GalNAc) conjugate technology.

Arbutus Biopharma Overview

Arbutus Biopharma, formerly Tekmira Pharmaceuticals Corp, focuses on the discovery, development, and commercialization of proprietary drugs and drug delivery systems indicated for the treatment of chronic hepatitis B infection (HBV). Its pipeline includes capsid assembly inhibitors: AB-729, AB-836 and a HBV RNA destabilizer. The company develops product candidates based on its lipid nanoparticle (LNP) delivery technology. Arbutus Biopharma works in partnership and collaboration with Genevant Sciences Inc, Alnylam Pharmaceuticals Inc, Acrotech Biopharma LLC and Gritstone Oncology. The company operates in the US and Canada. Arbutus Biopharma is headquartered in Warminster, Pennsylvania, the US.

The company reported revenues of (US Dollars) US$11 million for the fiscal year ended December 2021 (FY2021), an increase of 58.9% over FY2020. The operating loss of the company was US$73.5 million in FY2021, compared to an operating loss of US$57.8 million in FY2020. The net loss of the company was US$76.3 million in FY2021, compared to a net loss of US$63.7 million in FY2020. The company reported revenues of US$6 million for the third quarter ended September 2022, a decrease of 58.2% over the previous quarter.

For a complete picture of AB-729’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


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.