MCLA-129 is a monoclonal antibody commercialized by Merus, with a leading Phase II program in Solid Tumor. According to Globaldata, it is involved in 3 clinical trials, which are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of MCLA-129’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for MCLA-129 is expected to reach an annual total of $35 mn by 2040 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.
MCLA-129 Overview
MCLA-129 is under development for the treatment of solid tumor including non-small cell lung cancer, gastric cancer, esophageal squamous cell cancer (ESCC), gastroesophageal junction (GC/GEJ) adenocarcinoma, Paranasal Sinus And Nasal Cavity Cancer; Oropharyngeal Cancer; Laryngeal Cancer, head and neck cancer and colorectal cancer. It is administered through intravenous drip. The therapeutic candidate is a bi-specific monoclonal antibody that acts by targeting epidermal growth factor receptor (EGFR) and hepatocyte growth factor receptor (MET). The drug candidate is being developed based on Multiclonics (biclonics) technology platform.
Merus Overview
Merus is a clinical-stage oncology company that develops innovative antibody therapeutics. The company utilizes the Multiclonics, Biclonics and Triclonics platforms to develop human bispecific and tri-specific antibodies. Its pipeline products include petosemtamab (MCLA-158), a low-fucose human full-length IgG1 antibody that targets head and neck squamous cell carcinoma (HNSCC); MCLA-129 and MCLA-145 targeting advanced non-small cell lung cancer (NSCLC) and solid tumors; Zenocutuzumab (MCLA-128), antibody-dependent cell-mediated cytotoxicity (ADCC) drug for non-small cell lung cancer and pancreatic cancer; ONO-4685 for refractory T cell lymphoma and psoriasis; and INCA32459 and INCA33890 for advanced malignancies and select advanced solid tumors. The company operates through its subsidiaries in the Netherlands and the US. Merus is headquartered in Utrecht, the Netherlands.
The company reported revenues of (US Dollars) US$44 million for the fiscal year ended December 2023 (FY2023), an increase of 5.7% over FY2022. The operating loss of the company was US$156.6 million in FY2023, compared to an operating loss of US$160 million in FY2022. The net loss of the company was US$154.9 million in FY2023, compared to a net loss of US$131.2 million in FY2022.
The company reported revenues of US$7.3 million for the second quarter ended June 2024, a decrease of 7.1% over the previous quarter.
For a complete picture of MCLA-129’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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