KN-046 is a monoclonal antibody commercialized by Alphamab Oncology, with a leading Phase II program in Gastroesophageal (GE) Junction Carcinomas. According to Globaldata, it is involved in 31 clinical trials, of which 6 were completed, 15 are ongoing, 6 are planned, and 4 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of KN-046’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for KN-046 is expected to reach an annual total of $115 mn by 2036 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.
KN-046 Overview
KN-046 is under development for the treatment of solid tumors including metastatic esophageal squamous cell carcinoma, metastatic nasopharangeal, thymic carcinoma, urothelial cancer, HNSCC, multiple myeloma, SCLC, melanoma, RCC, hepatocellular carcinoma, gastric cancer, gastroesophageal (GE) junction carcinoma, locally advanced or metastatic pancreatic ductal adenocarcinoma, adenocarcinoma of the gastroesophageal junction, metastatic triple negative breast cancer, non-squamous non-small cell lung cancer, pancreatic cancer, squamous non-small cell lung cancer, colorectal cancer and lymphomas and cholangiocarcinoma. The drug candidate is administered intravenously. The therapeutic candidate is a bi-specific monoclonal antibody and it is developed based on CRIB (charge repulsion induced bi-specificity) technology that is used to generate multi-fuctional antibodies or fusion proteins. It is an immunomodulator. I acts by targeting PD L1 and CTLA-4.
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Alphamab Oncology Overview
Alphamab Oncology (Alphamab) is a clinical-stage biopharmaceutical company that discovers, develops, manufactures and commercializes therapeutics for the treatment of cancer. The company’s pipeline products include KN035; an injectable PD-L1 inhibitor for the treatment of dMMR and MSI-H solid tumors, KN046; a BsAb immune checkpoint inhibitor, KN026; an anti-HER2 bispecific antibody. It also comprises KN019; a CTLA-4-based immunosuppressant fusion protein drug candidate used for treating indications such as autoimmune diseases and induced immune disorders. Alphamab offers JSKN-003, JSKN-001, JSKN-002, JSKN-004, JSKN-005, JSKN-006 and JSKN-008. The company appears its proprietary CRIB and CRAM platforms for bispecific and protein engineering and antibody screening to best-in-class medicines in oncology. Alphamab is headquartered in Suzhou, Jiangsu, China.
The company reported revenues of (Renminbi) CNY166.8 million for the fiscal year ended December 2022 (FY2022), an increase of 14.3% over FY2021. The operating loss of the company was CNY311.5 million in FY2022, compared to an operating loss of CNY399.2 million in FY2021. The net loss of the company was CNY325.7 million in FY2022, compared to a net loss of CNY412.4 million in FY2021.
For a complete picture of KN-046’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.
