MORF-057 is a small molecule commercialized by Morphic Holding, with a leading Phase II program in Ulcerative Colitis. According to Globaldata, it is involved in 4 clinical trials, of which 2 were completed, and 2 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of MORF-057’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for MORF-057 is expected to reach an annual total of $597 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.
MORF-057 Overview
MORF-057 is under development for the treatment of autoimmune disorders including ulcerative colitis, Crohn's disease and eosinophilic esophagitis. It is administered orally. It is developed based on Morphic integrin technology (MInT). The drug candidate acts by targeting integrin alpha 4 and beta 7.
Morphic Holding Overview
Morphic Holding (Morphic Therapeutic) is biopharmaceutical company that develops oral integrin therapies for the treatment of autoimmune, cardiovascular and metabolic diseases and fibrosis and cancer based on its Morphic integrin technology platform (MInT Platform). The company’s lead products candidate MORF – O57 (a4ß7) is intended for the treatment of inflammatory bowel disease (IBD). It also developing Next Gen a4ß7 Inhibitors for the treatment of fibrotic diseases including idiopathic pulmonary fibrosis. The company operates in Delaware and Massachusetts, the US. Morphic Therapeutic is headquartered in Waltham, Massachusetts, the US.
The company reported revenues of (US Dollars) US$0.5 million for the fiscal year ended December 2023 (FY2023), a decrease of 99.3% over FY2022. The operating loss of the company was US$178.7 million in FY2023, compared to an operating loss of US$63.4 million in FY2022. The net loss of the company was US$152.1 million in FY2023, compared to a net loss of US$59 million in FY2022.
For a complete picture of MORF-057’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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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.
