LN-145 is a cell therapy commercialized by Iovance Biotherapeutics, with a leading Phase II program in Cervical Cancer. According to Globaldata, it is involved in 8 clinical trials, of which 4 were completed, and 4 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of LN-145’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for LN-145 is expected to reach an annual total of $103 mn by 2038 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.
LN-145 Overview
Lifileucel (LN-145) is under development for the treatment of metastatic melanoma, metastatic triple negative breast cancer, soft tissue sarcoma, osteosarcoma, bone sarcoma, chondrosarcoma, giant cell tumor of bone, anaplastic thyroid cancer, ovarian cancer, cervical cancer, head and neck squamous cell carcinoma and advanced or metastatic non-small cell lung cancer (NSCLC). The therapeutic candidate is administered as intravenous route. It constitutes of tumor infiltrating lymphocytes (TILs) isolated from the patient’s tumor further expanded and then infused back to the patient enabling patient robust immune response. It is being developed based on TIL platform.
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It was under development for the treatment of metastatic transitional cell cancer of the urothelium including renal pelvis cancer, ureters cancer, urinary bladder cancer and urethra cancer and refractory HPV-associated cancer.
Iovance Biotherapeutics Overview
Iovance Biotherapeutics (Iovance) is a biotechnology company that focuses on the development and commercialization of novel immunotherapy products for treating various cancers. It develops products based on its tumor-infiltrating lymphocyte (TIL) technology. The company’s lead product candidates include lifileucel is an autologous, ready-to-infuse cell therapy indicated for the treatment of melanoma and metastatic cervical cancer; and LN-145 for the treatment of head and neck cancer. The company also focuses on investigating TIL therapy for treatment of a various types of cancer. It has Iovance Cell Therapy Center (iCTC) in Philadelphia for the manufacture of the tumor infiltrating lymphocytes (TIL). The company operates a research facility in Tampa, Florida. Iovance is headquartered in San Carlos, California, the US.
The operating loss of the company was US$398.9 million in FY2022, compared to an operating loss of US$342.7 million in FY2021. The net loss of the company was US$395.9 million in FY2022, compared to a net loss of US$342.3 million in FY2021.
The company reported revenues of US$0.5 million for the third quarter ended September 2023, an increase of 97.1% over the previous quarter.
For a complete picture of LN-145’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.
