Imetelstat Sodium is an oligonucleotide commercialized by Geron, with a leading Phase III program in Post-Essential Thrombocythemia Myelofibrosis (Post-ET MF). According to Globaldata, it is involved in 20 clinical trials, of which 14 were completed, 2 are ongoing, 2 are planned, and 2 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Imetelstat Sodium’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for Imetelstat Sodium is expected to reach an annual total of $808 mn by 2033 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.

Imetelstat Sodium Overview

Imetelstat (JNJ-63935937) is under development for the treatment of intermediate-2-risk or high-risk myelofibrosis, intermediate-1 or intermediate-2 risk myelodysplastic syndrome, acute myeloid leukemia multiple myeloma, myeloproliferative neoplasms and lymphoid hematologic malignancy. The drug candidate is administered by intravenous infusion. It is a new molecular entity (NME). It is a 13-mer oligonucleotide N3'–P5' thio-phosphoramidate (NPS oligonucleotide) that is covalently attached to a C16 (palmitoyl) lipid moiety. GRN163L binds directly with high affinity to the template region of the RNA component of human telomerase (hTR), which lies in the active or catalytic site of hTERT, the telomerase reverse transcriptase. GRN163L binding to hTR results in direct, competitive inhibition of telomerase enzymatic activity. It is a new molecular entity.     Imetelstat (GRN163L) was under development for the treatment of chronic lymphoproliferative disease including, small lymphocytic lymphoma (SLL), T cell prolymophocytic leukemia (T-PLL), B cell prolymphocytic leukemia (B-PLL), mantle cell lymphoma or other non-Hodgkins lymphoma in leukemic phase, Waldenstrom's macroglobulinemia, multiple myeloma, post-essential thrombocythemia myelofibrosis, post-polycythemia vera myelofibrosis, non-small cell lung cancer, solid tumors, neuroblastoma, polycythemia vera and breast cancer.

Geron Overview

Geron is a late-stage clinical biopharmaceutical company that focuses on the development and commercialization of imetelstat, a first-in-class telomerase inhibitor in hematologic myeloid malignancies. The company’s clinical studies include IMerge, a Phase 2 trial in lower risk myelodysplastic syndromes; and IMbark, a Phase 2 clinical trial in intermediate or high-risk myelofibrosis. Imetelstat received Fast Track designation from the US FDA to treat patients with transfusion-dependent anemia due to lower or intermediate-risk myelodysplastic syndromes (MDS) and patients with intermediate or high-risk myelofibrosis (MF). The company utilizes core expertise in telomerase and telomere biology and its proprietary nucleic acid chemistry for the development of imetelstat. Geron is headquartered in Menlo Park, California, the US.

The company reported revenues of (US Dollars) US$1.4 million for the fiscal year ended December 2021 (FY2021), compared to a revenue of US$0.3 million in FY2020. The operating loss of the company was US$114 million in FY2021, compared to an operating loss of US$76.9 million in FY2020. The net loss of the company was US$116.1 million in FY2021, compared to a net loss of US$75.6 million in FY2020. The company reported revenues of US$0.3 million for the third quarter ended September 2022, compared to a revenue of US$0.1 million the previous quarter.

For a complete picture of Imetelstat Sodium’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.