HPN-328 is a monoclonal antibody commercialized by Harpoon Therapeutics, with a leading Phase II program in Small-Cell Lung Cancer. 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 HPN-328’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for HPN-328 is expected to reach an annual total of $62 mn by 2037 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.

HPN-328 Overview

HPN-328 is under development for the treatment of small-cell lung cancer, neuroendocrine prostate cancer and other neuroendocrine neoplasm like colorectal cancer, pancreatic cancer, thymic carcinoma, bladder cancer. The drug candidate is a single polypeptide comprising a single-chain variable fragment (scFv) targeting cancer surface antigen DLL3 and two single-domain antibodies that binds to the CD3 epsilon subunit of the TCR and to human serum albumin. It is a tri-specific antibody and T cell engager. It is developed based on tri-specific T-cell activating construct (TriTAC) technology. It is administered through intravenous route.

Harpoon Therapeutics Overview

Harpoon Therapeutics (Harpoon) is a clinical-stage immuno-oncology company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. The company’s pipeline products include Hpn424, a T cell-engaging bispecific antibody used for the treatment of prostate cancer; HPN536 against ovarian cancer; HPN217 targeting Multiple Myeloma; HPN328 indicated for small cell lung cancer; and HPN601, is a protease-activated EpCAM targeting T cell engager for the treatment of solid tumors. It utilizes Tri-specific T cell activating construct (TriTAC) platform, for developing a pipeline of novel T cell engagers designed for targeted penetration and destruction of solid tumors and hematologic malignancies. Harpoon is headquartered in South San Francisco, California, the US.

The company reported revenues of (US Dollars) US$23.7 million for the fiscal year ended December 2021 (FY2021), an increase of 35.6% over FY2020. The operating loss of the company was US$116.8 million in FY2021, compared to an operating loss of US$51.3 million in FY2020. The net loss of the company was US$116.7 million in FY2021, compared to a net loss of US$49.9 million in FY2020. The company reported revenues of US$13.6 million for the third quarter ended September 2022, an increase of 64% over the previous quarter.

For a complete picture of HPN-328’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.

GlobalData

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.