ALLN-346 is a recombinant enzyme commercialized by Allena Pharmaceuticals, with a leading Phase II program in Gouty Arthritis (Gout). According to Globaldata, it is involved in 5 clinical trials, of which 3 were completed, and 2 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of ALLN-346’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for ALLN-346 is expected to reach an annual total of $154 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.

ALLN-346 Overview

ALLN-346 is under development for the treatment of hyperuricemia in patients with gouty arthritis and chronic kidney disease. The drug candidate is administered through oral route. It is prepared as a recombinant enzyme using non-absorbed oral enzyme technology. It was also under development for the treatment of gout.

Allena Pharmaceuticals Overview

Allena Pharmaceuticals (Allena) is a developer of oral enzyme therapeutics to treat patients with rare and severe metabolic disorders. The company develops ALLN-177 (reloxaliase), an oral recombinant oxalate degrading enzyme. Allena also develops ALLN-346, which treats hyperuricemia, gout, and chronic kidney disease. It provides ALLN-177 which is developed for the chronic management of hyperoxaluria and kidney stones. Allena designs and develops oral protein therapies to treat metabolic and orphan diseases with a particular focus on nephrologic, urologic conditions, and others. The company also holds expertise in manufacturing, formulation, non-systemic protein delivery programs, and others. Allena is headquartered in Newton, Massachusetts, US.

The operating loss of the company was US$47.7 million in FY2021, compared to an operating loss of US$32 million in FY2020. The net loss of the company was US$48.7 million in FY2021, compared to a net loss of US$32.8 million in FY2020.

For a complete picture of ALLN-346’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.