NGM-120 is a monoclonal antibody commercialized by NGM Biopharmaceuticals, with a leading Phase II program in Metastatic Castration-Resistant Prostate Cancer (mCRPC). According to Globaldata, it is involved in 2 clinical trials, of which 1 was completed, and 1 is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of NGM-120’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for NGM-120 is expected to reach an annual total of $4 mn by 2039 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.
NGM-120 Overview
NGM-120 is under development for the treatment of anorexia and cachexia, metastatic castration-resistant prostate cancer, pancreatic ductal adenocarcinoma, metastatic pancreatic adenocarcinoma. It is administered through the subcutaneous route. The therapeutic candidate is a humanized monoclonal antibody. NGM-120 acts by targeting GDNF receptor alpha (GFRAL).
It was also under development for the treatment of bladder cancer, melanoma, non-small cell lung cancer, colorectal cancer, gastric cancer, esophageal cancer, ovarian cancer, head and neck squamous cell carcinoma.
NGM Biopharmaceuticals Overview
NGM Biopharmaceuticals (NGM Bio) operates as a clinical-stage bio pharmaceutical company that develops pipeline of biological therapeutics for the treatment of cardio-metabolic, immuno-oncology, retinal and liver diseases and ophthalmic diseases. The company’s pipeline products include NGM707, NGM831, NGM438, NGM120, NGM621, MK-3655 and Aldafermin. Its NGM707 is a novel dual antagonist monoclonal antibody that is designed to improve patient immune responses to tumors by inhibiting both Immunoglobulin-like transcript and NGM831 is the potential to fight tumors by shifting myeloid cells from a suppressive state to a stimulatory state and promote anti-tumor activity. The company’s biologic’s platform incorporates multiple technologies to generate and screen monoclonal antibodies. NGM Bio is headquartered in San Francisco, California, the US.
The company reported revenues of (US Dollars) US$55.3 million for the fiscal year ended December 2022 (FY2022), a decrease of 29% over FY2021. The operating loss of the company was US$166.3 million in FY2022, compared to an operating loss of US$120.7 million in FY2021. The net loss of the company was US$162.7 million in FY2022, compared to a net loss of US$120.3 million in FY2021.
For a complete picture of NGM-120’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.
