INBRX-101 is a fusion protein commercialized by Inhibrx, with a leading Phase I program in Alpha-1 Antitrypsin Deficiency (A1AD). According to Globaldata, it is involved in 3 clinical trials, of which 1 was completed, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of INBRX-101’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for INBRX-101 is expected to reach an annual total of $28 mn by 2037 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.

INBRX-101 Overview

INBRX-101 is under the development for the treatment of alpha-1 antitrypsin deficiency and graft versus host disease (GVHD). The therapeutic candidate comprises of alpha-1 antitrypsin (AAT)-Fc fusion proteins and developed based on VAST-mAb (validated ablation of self-tolerance) platform. 

Inhibrx Overview

Inhibrx is a biotechnology company that discovers and develops biologic therapeutics for the treatment of cancer and infectious diseases. It is investigating INBRX-101, a recombinant human AAT-Fc fusion protein candidate for the treatment of AATD (alpha-1 antitrypsin deficiency); INBRX-109, an engineered tetravalent sdAb-based therapeutic candidate to treat cancer by activating DR5 (death receptor 5). The company is also evaluating INBRX-106 program against advanced or metastatic solid tumors; and INBRX-105 therapeutic candidate targeting patients with programmed death-ligand 1 (PD-L1) expressing tumors. It utilizes its proprietary sdAb (single-domain antibody) platform to develop biotherapeutics that interface with the biology of each target antigen by focusing on immune activation and mediating enhanced signaling. Inhibrx is headquartered in La Jolla, California, the US.

The company reported revenues of (US Dollars) US$7.2 million for the fiscal year ended December 2021 (FY2021), a decrease of 43.9% over FY2020. The operating loss of the company was US$76.6 million in FY2021, compared to an operating loss of US$67.4 million in FY2020. The net loss of the company was US$81.8 million in FY2021, compared to a net loss of US$76.1 million in FY2020. The company reported revenues of US$0.3 million for the third quarter ended September 2022, a decrease of 60.9% over the previous quarter.

For a complete picture of INBRX-101’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.