CID-103 is a monoclonal antibody commercialized by CASI Pharmaceuticals, with a leading Phase I program in Relapsed Multiple Myeloma and Refractory Multiple Myeloma. 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 CID-103’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for CID-103 is expected to reach an annual total of $5 mn by 2038 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.

CID-103 Overview

CID-103 (TSK-011010) is under development for the treatment of relapsed and refractory multiple myeloma and other hematological malignancies. The drug candidate acts by targeting CD38. It is administered through parenteral route.

CASI Pharmaceuticals Overview

CASI Pharmaceuticals (CASI) is a biopharmaceutical company, which focuses on the development and commercialization of innovative therapies for treating cancer and other unmet medical needs. The company’s product EVOMELA (melphalan for injection) an intravenous formulation for the treatment of multiple myeloma. CASIs pipeline product portfolio includes CID-103 for treatment of multiple myeloma; CNTC 19 for hematological malignancies; ZEVALIN for treatment of relapsed/refractory, low-grade B-cell non-Hodgkin’s lymphoma (NHL); MARQIBO for treatment of Philadelphia chromosome-negative (Ph-) acute lymphoblastic leukemia (ALL); BI-1206 for non-hodgkin’s lymphoma and solid tumors; CB-5339 AML/MDS and solid tumors; Octreotide LAI for treatment of acromegaly and symptoms associated with neuroendocrine tumors. The company operates its subsidiaries in the US and China and a research and development center in Beijing, China. CASI is headquartered in Rockville, Maryland, the US.

The company reported revenues of (US Dollars) US$30.2 million for the fiscal year ended December 2021 (FY2021), an increase of 99.2% over FY2020. The operating loss of the company was US$42.7 million in FY2021, compared to an operating loss of US$51.5 million in FY2020. The net loss of the company was US$35.1 million in FY2021, compared to a net loss of US$46.6 million in FY2020. The company reported revenues of US$10.2 million for the third quarter ended September 2022, an increase of 19.1% over the previous quarter.

For a complete picture of CID-103’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.