BX-004 is a biologic commercialized by BiomX, with a leading Phase II program in Cystic Fibrosis. According to Globaldata, it is involved in 1 clinical trial, which is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of BX-004’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for BX-004 is expected to reach an annual total of $55 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.
BX-004 Overview
BX-004 is under development for the treatment of cystic fibrosis and resistant pseudomonas aeruginosa infections. It is administered as inhalational formulation. The drug candidate comprises of cocktail of natural phages developed based on BOLT (Bacteriophage Lead to Treatment) platform.
BiomX Overview
BiomX is a microbiome company that developing natural and engineered phage cocktails targeting harmful bacteria in chronic diseases and conditions such as acne, inflammatory bowel disease (IBD), liver disease. The company’s lead product candidate includes BX003to treat primary sclerosing cholangitis (PSC). BiomX CRC program helps in recognizing and validating associations of specific strains of bacteria. The company BX005 is topical phage product candidate which targeting Staphylococcus aureus. It works in collaboration with Massachusetts Institute of Technology, Janssen Pharmaceuticals, Takeda Pharmaceutical Co Ltd, JSR Corporation and Weizmann Institute of Science. BiomX is headquartered in Ness Ziona, Israel.
The operating loss of the company was US$35.5 million in FY2021, compared to an operating loss of US$30.3 million in FY2020. The net loss of the company was US$36.2 million in FY2021, compared to a net loss of US$30.1 million in FY2020.
For a complete picture of BX-004’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.
