Empasiprubart is a monoclonal antibody commercialized by Argenx, with a leading Phase II program in Multifocal Motor Neuropathy. According to Globaldata, it is involved in 7 clinical trials, of which 2 were completed, and 5 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Empasiprubart’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

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Data Insights Net Present Value Model: Argenx SE's Empasiprubart

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The revenue for Empasiprubart is expected to reach an annual total of $56 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.

Empasiprubart Overview

ARGX-117 (PRO-02) is under development for the prevention of ischemia-reperfusion damage and antibody-mediated diseases like autoimmune hemolytic anemia (AIHA), antibody-mediated rejection (AMR) following organ transplantation, delayed graft function and dermatomyositis, multifocal motor neuropathy. It is administered through the intravenous route. It acts by targeting complement C2 cascade. The therapeutic candidate is a monoclonal antibody equipped with Argenx’s proprietary Fc engineering technology NHance.
It was also under development for acute respiratory distress syndrome (ARDS) in COVID-19 patients and kidney diseases.

Argenx Overview

Argenx is an immunology company that developed human antibody products for autoimmune diseases. The company’s product includes VYVGART, a neonatal Fc receptor blocker, which is used to treat generalized myasthenia gravis in adults. The company’s pipeline products include Efgartigimod, ARGX-117, Cusatuzumab, ARGX-118 and ARGX-119. Argenx in partnership with Leo Pharma, AgoMab, AbbVie and Staten has been licensed to develop products such as ARGX-112, ARGX-114 and ARGX-115. The company develops antibodies using its proprietary technology platforms such as NHance, simple antibody technology, and others. It operates offices in the Netherlands, the United States, Japan, Switzerland and Belgium. Argenxis headquartered in Amsterdam, Noord-Holland, the Netherlands.
The company reported revenues of (US Dollars) US$1,226.3 million for the fiscal year ended December 2023 (FY2023), compared to a revenue of US$410.8 million in FY2022. The operating loss of the company was US$425.1 million in FY2023, compared to an operating loss of US$720.3 million in FY2022. The net loss of the company was US$295.1 million in FY2023, compared to a net loss of US$709.6 million in FY2022.

For a complete picture of Empasiprubart’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.

This content was updated on 10 June 2024

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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.