FPI-1966 is a monoclonal antibody conjugated commercialized by Fusion Pharmaceuticals, with a leading Phase II program in Head And Neck Cancer Squamous Cell Carcinoma. 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 FPI-1966’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for FPI-1966 is expected to reach an annual total of $17 mn by 2038 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.

FPI-1966 Overview

FPI-1966 is under development for the treatment of solid tumor, head and neck cancer squamous cell carcinoma and bladder carcinoma. The drug candidate comprises of alpha particle emitting isotope actinium-225 is conjugated with targeting molecule. It acts by targeting cells expressing fibroblast growth factor receptor 3 (FGFR3). It is developed based on the Fast-Clear Linker technology.

Fusion Pharmaceuticals Overview

Fusion Pharmaceuticals is a clinical-stage biopharmaceutical company which develops targeted alpha-particle radio therapeutics for the treatment of cancers. It offers pipeline products such as FPI-1434, FPI-2059 and FPI-1966. The company’s pipeline products are to treat multiple cancers like head and neck bladder cancer, colorectal cancer and gastric cancers. Fusion Pharmaceuticals carters its products under brand Keytruda. The company is a spin-off from the Centre for Probe Development and Commercialization (CPDC), a leading radiopharmaceutical research and GMP production centre in Canada. It has its operations in the US and Canada. Fusion Pharmaceuticals is headquartered in Hamilton, Ontario, Canada.

The company reported revenues of (US Dollars) US$1.4 million for the fiscal year ended December 2021 (FY2021). The operating loss of the company was US$82 million in FY2021, compared to an operating loss of US$37.9 million in FY2020. The net loss of the company was US$81.1 million in FY2021, compared to a net loss of US$78.3 million in FY2020. The company reported revenues of US$0.2 million for the third quarter ended September 2022, a decrease of 70.9% over the previous quarter.

For a complete picture of FPI-1966’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.