GRANITE-001 is a vaccine commercialized by Gritstone Bio, with a leading Phase III program in Metastatic Colorectal Cancer. According to Globaldata, it is involved in 4 clinical trials, of which 2 were completed, 1 is ongoing, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of GRANITE-001’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for GRANITE-001 is expected to reach an annual total of $164 mn by 2039 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.
GRANITE-001 Overview
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Gritstone Bio Overview
Gritstone Bio (Gritstone), formerly Gritstone Oncology, is a clinical-stage biotechnology company. The company discovers, develops, manufactures, and delivers vaccine-based immunotherapy candidates against cancer and infectious diseases. It develops personalized cancer vaccines designed to direct a robust immune response to neoantigens by leveraging its artificial intelligence Gritstone EDGE platform. Gritstone’s cancer vaccines product pipeline includes GRANITE and SLATE for solid tumors; and prophylactic samRNA (CORAL), HIV Therapeutic vaccine, and other flu, multi-respiratory, papillomavirus (HPV) eradication pathogens. The company designs immunotherapy containing the relevant neoantigens to be administered by intramuscular injection. It manufactures products through its biomanufacturing facilities in Massachusetts, and California, the US. Gritstone is headquartered in Emeryville, California, the US.
The company reported revenues of (US Dollars) US$20 million for the fiscal year ended December 2022 (FY2022), a decrease of 58.6% over FY2021. The operating loss of the company was US$120.4 million in FY2022, compared to an operating loss of US$75.2 million in FY2021. The net loss of the company was US$119.7 million in FY2022, compared to a net loss of US$75.1 million in FY2021.
The company reported revenues of US$1.6 million for the third quarter ended September 2023, a decrease of 19.9% over the previous quarter.
For a complete picture of GRANITE-001’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.
