Daxi is a protein commercialized by Revance Therapeutics, with a leading Pre-Registration program in Spasmodic Torticollis (Cervical Dystonia). According to Globaldata, it is involved in 19 clinical trials, of which 16 were completed, 2 are ongoing, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Daxi’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for Daxi is expected to reach an annual total of $185 mn by 2035 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.
RT-002 is under development for the treatment of spasmodic torticollis (cervical dystonia), upper limb spasticity voice disorders, spasmodic dysphonia in after stroke or traumatic brain injury. It is administered by intramuscular route and a unspecified indication. The drug candidate is an injectable neurotoxin, purified botulinum toxin type A that targets synaptosomal-associated protein 25. It is developed based on TransMTS peptide technology.
It was under development for the treatment of plantar fasciitis and chronic migraine.
Revance Therapeutics Overview
Revance Therapeutics is a biotechnology company that focuses on the development, manufacturing and marketing novel botulinum toxin products. It is investigating its lead candidate, daxibotulinumtoxinA, a topical gel formulation as a needle-free approach for a wide range of therapeutic and aesthetic indications, such as facial wrinkles, chronic migraine, and muscle disorders. Through the acquisition of HintMD, the company uses it platform to engage in the smart payment solution to process payments for their patients and provides subscription and pay-over-time solutions that support practices for the aesthetic treatment plans. The company is also advancing daxibotulinumtoxinA for injection (DAXI), an injectable formulation of botulinum toxin for the treatment of glabellar lines, cervical dystonia and plantar fasciitis. It employs its proprietary peptide excipient technology to advance the development of its novel neuromodulators portfolio. Revance Therapeutics is headquartered in Nashville, Tennessee, the US.
The company reported revenues of (US Dollars) US$77.8 million for the fiscal year ended December 2021 (FY2021), compared to a revenue of US$15.3 million in FY2020. The operating loss of the company was US$274.7 million in FY2021, compared to an operating loss of US$273.2 million in FY2020. The net loss of the company was US$281.3 million in FY2021, compared to a net loss of US$282.1 million in FY2020. The company reported revenues of US$29 million for the third quarter ended September 2022, an increase of 2.3% over the previous quarter.
For a complete picture of Daxi’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.