Enobosarm is a small molecule commercialized by Veru, with a leading Phase III program in Metastatic Breast Cancer. According to Globaldata, it is involved in 19 clinical trials, of which 14 were completed, 1 is ongoing, 1 is planned, and 3 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Enobosarm’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Enobosarm is expected to reach an annual total of $237 mn by 2034 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.
Enobosarm Overview
Enobosarm (Ostarine, GTx-024, MK-2866) is under development for the treatment of estrogen receptor positive/androgen receptor-positive and HER2 negative breast cancer. It is a selective androgen receptor modulator (SARM). It is a new chemical entity and is administered by oral route. It was also under development for the prevention of muscle wasting (cancer cachexia), sarcopenia and stress urinary incontinence (SUI) and duchenne muscular dystrophy androgen receptor-positive triple negative breast cancer.
Veru Overview
Veru is a biopharmaceutical company that focused on development and commercialization of novel medicines for COVID-19, ARDS-related diseases and novel oncology medicines. It is headquartered in Miami, Florida, the US.
The company reported revenues of (US Dollars) US$39.4 million for the fiscal year ended September 2022 (FY2022), a decrease of 35.8% over FY2021. The operating loss of the company was US$83.2 million in FY2022, compared to an operating income of US$13 million in FY2021. The net loss of the company was US$83.8 million in FY2022, compared to a net profit of US$7.4 million in FY2021.
The company reported revenues of US$6.6 million for the second quarter ended March 2023, compared to a revenue of US$2.5 million the previous quarter.
For a complete picture of Enobosarm’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.
