APSA-02 is a biologic commercialized by Armata Pharmaceuticals, with a leading Phase II program in Bacteremia. According to Globaldata, it is involved in 3 clinical trials, of which 1 is ongoing, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of APSA-02’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for APSA-02 is expected to reach an annual total of $29 mn by 2040 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.
APSA-02 Overview
APSA-02 is under development for the treatment of bacteremia, periprosthetic joint infections and methicillin-resistant Staphylococcus aureus caused by staphylococcus aureus. It is administered by the intravenous and intraarticular route. The drug candidate is a bacteriophage and being developed based on proprietary synthetic phage platform. It is a biologic product candidate comprised of a cocktail of natural lytic phages that target the problematic pathogen, Staphylococcus aureus.
It was also under development for the treatment of pneumonia, endocarditis.
Armata Pharmaceuticals Overview
Armata Pharmaceuticals is a biotechnology company. It develops pathogen-specific bacteriophage drugs for the treatment of antibody-resistant bacterial infections. The company investigates AP-PA02 drug against cystic fibrosis and non-CF bronchiectasis; and AP-PA03 to treat pneumonia. The company evaluates the AP-SA02 program for the treatment of staphylococcus aureus infections such as bacteremia and periprosthetic joint infections (PJI). Armata Pharmaceuticals utilizes its proprietary synthetic phage platform to develop therapies for multidrug-resistant bacterial infections. It works in partnership with Merck & Co Inc to develop its products. Armata Pharmaceuticals is headquartered in Marina del Rey, California, the US.
The company reported revenues of (US Dollars) US$4.5 million for the fiscal year ended December 2023 (FY2023), a decrease of 17.8% over FY2022. The operating loss of the company was US$44.8 million in FY2023, compared to an operating loss of US$37 million in FY2022. The net loss of the company was US$69.1 million in FY2023, compared to a net loss of US$36.9 million in FY2022.
For a complete picture of APSA-02’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.
