MRG-002 is a monoclonal antibody conjugated commercialized by Lepu Biopharma, with a leading Phase III program in Metastatic Transitional (Urothelial) Tract Cancer. According to Globaldata, it is involved in 12 clinical trials, of which 10 are ongoing, and 2 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of MRG-002’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for MRG-002 is expected to reach an annual total of $83 mn by 2037 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.
MRG-002 Overview
MRG-002 is under development for the treatment of gastric cancer, HER2-positive metastatic breast cancer, human epidermal growth factor receptor 2 negative breast cancer (HER2- Breast Cancer), advanced or metastatic biliary adenocarcinoma, recurrent or metastatic breast cancer, gastroesophageal (GE) junction carcinomas, advanced or metastatic urothelial carcinoma including bladder cancer, urethral cancer, ureter cancer, salivary gland cancer, esophageal cancer, breast cancer and HER2-expressing advanced malignant solid tumors. It is administered through intravenous route. The drug candidate is an antibody-drug conjugate which is developed by based on ADC technology. The therapeutic candidate acts by targeting HER-2.
It was under development for the treatment of advanced or metastatic non-small cell lung cancer (NSCLC), squamous non-small cell lung carcinoma and Metastatic Biliary Tract Cancer.
Lepu Biopharma Overview
Lepu Biopharma is a biopharmaceutical company focusing on oncology therapeutics. The company is headquartered in Shanghai, China.
The company reported revenues of (Renminbi) CNY15.6 million for the fiscal year ended December 2022 (FY2022). The operating loss of the company was CNY704.5 million in FY2022, compared to an operating loss of CNY1,009.6 million in FY2021. The net loss of the company was CNY689.1 million in FY2022, compared to a net loss of CNY1,011 million in FY2021.
For a complete picture of MRG-002’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.
