Axitinib is a small molecule commercialized by Ocular Therapeutix, with a leading Phase I program in Non-Proliferative Diabetic Retinopathy (NPDR). According to Globaldata, it is involved in 6 clinical trials, of which 1 was completed, 3 are ongoing, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of Axitinib’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for Axitinib is expected to reach an annual total of $142 mn by 2034 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.
Axitinib (OTX-TKI) is under development for the treatment of wet age-related macular degeneration (AMD), moderately severe to severe non-proliferative diabetic retinopathy, diabetic macular edema, and retinal vein occlusion. It is a sustained release formulation administered through intravitreal injection. It acts by targeting tyrosine kinase.
Ocular Therapeutix Overview
Ocular Therapeutix is a biopharmaceutical company that discovers, develops and commercializes therapies for treating eye diseases. The company’s lead product candidate DEXTENZA is used for the treatment of post-surgical Ocular inflammation and pain. Its pipeline products include OTX-TP, used for treating glaucoma and Ocular hypertension, OTX-BPI, targeting acute Ocular pain, OTX-BDI, against post-op pain, inflammation and anti-bacterial infections; OTX-KTO for treating allergic conjunctivitis; OTX-CSI, against dry eye. Ocular Therapeutix also develops intracameral implants for treating multiple eye disorders. The company works in collaboration with Regeneron Pharmaceuticals Inc to develop formulations for the treatment of wet AMD and other serious retinal diseases. Ocular Therapeutix is headquartered in Bedford, Massachusetts, the US.
The company reported revenues of (US Dollars) US$51.5 million for the fiscal year ended December 2022 (FY2022), an increase of 18.3% over FY2021. The operating loss of the company was US$78.7 million in FY2022, compared to an operating loss of US$78 million in FY2021. The net loss of the company was US$71 million in FY2022, compared to a net loss of US$6.6 million in FY2021. The company reported revenues of US$13.4 million for the first quarter ended March 2023, a decrease of 5% over the previous quarter.
For a complete picture of Axitinib’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.