IMA-203 is a gene-modified cell therapy commercialized by Immatics, with a leading Phase II program in Endometrial Cancer. According to Globaldata, it is involved in 3 clinical trials, of which 1 is ongoing, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of IMA-203’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for IMA-203 is expected to reach an annual total of $122 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.
IMA-203 Overview
IMA-203 is under development for the treatment of solid tumors include hepatocellular carcinoma ovarian cancer, endometrial cancer, uterine cancer, sqNSCLC, subtypes of synovial sarcoma, uveal melanoma. It is based on XPRESIDENT, ACTengine platform and XCEPTOR platfom. XPRESIDENT is a target discovery engine which identifies tumor-associated peptides (TUMAPs) / T-cell targets. ACTengine platform uses autologous T-cells which are genetically engineered to express T-cell receptors upon lentiviral transduction which recognise targets identified by XPRESIDENT. These cells are expanded ex-vivo and reinfused back into the patient.It acts by targeting cells expressing preferentially expressed antigen in melanoma (PRAME).It is administered through intravenous route.
Immatics Overview
Immatics is a biopharmaceutical company focused on the development of T cell immunotherapies to fight against cancer. Immatics is headquartered in Tuebingen, Germany.
The company reported revenues of (Euro) EUR172.8 million for the fiscal year ended December 2022 (FY2022), compared to a revenue of EUR34.8 million in FY2021. The operating profit of the company was EUR30 million in FY2022, compared to an operating loss of EUR86.3 million in FY2021. The net profit of the company was EUR37.5 million in FY2022, compared to a net loss of EUR93.3 million in FY2021.
The company reported revenues of EUR9.8 million for the first quarter ended March 2023, a decrease of 74% over the previous quarter.
For a complete picture of IMA-203’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.
