CNMAU-8 is a small molecule commercialized by Clene, with a leading Phase III program in Relapsing Multiple Sclerosis (RMS). According to Globaldata, it is involved in 7 clinical trials, of which 1 was completed, 1 is ongoing, 4 are planned, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of CNMAU-8’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for CNMAU-8 is expected to reach an annual total of $547 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.
CNMAU-8 Overview
CNMAU-8 is under development for the treatment of relapsing multiple sclerosis, chronic optic neuropathy associated with relapsing-remitting multiple sclerosis, primary progressive multiple sclerosis or non-active secondary progressive multiple sclerosis, amyotrophic lateral sclerosis, neuronal aging-related deficits and Alzheimer’s disease. The drug candidate nanocrystalline gold suspension formulated as a nanosuspension. It is administered through oral route. It is a small molecule developed based on Clean-Surface Nanosuspension (CSN) technology. It was also under development for amyotrophic lateral sclerosis.
Clene Overview
Clene is a clinical-stage biopharmaceutical company focused on the development of unique therapeutics for neurodegenerative diseases. It is headquartered in Salt Lake City, Utah, the US.
The company reported revenues of (US Dollars) US$0.5 million for the fiscal year ended December 2022 (FY2022), a decrease of 34.6% over FY2021. The operating loss of the company was US$48.4 million in FY2022, compared to an operating loss of US$49.3 million in FY2021. The net loss of the company was US$29.9 million in FY2022, compared to a net loss of US$9.7 million in FY2021.
The company reported revenues of US$0.1 million for the third quarter ended September 2023, a decrease of 59.9% over the previous quarter.
For a complete picture of CNMAU-8’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.
