NurOwn is a cell therapy commercialized by BrainStorm Cell Therapeutics, with a leading Phase II program in Secondary Progressive Multiple Sclerosis (SPMS). According to Globaldata, it is involved in 8 clinical trials, of which 6 were completed, 1 is ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of NurOwn’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for NurOwn is expected to reach an annual total of $875 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.
NurOwn Overview
BrainStorm Cell Therapeutics Overview
BrainStorm Cell Therapeutics, formerly Golden Hand Resources Inc, is a biotechnology company that develops autologous stem cell therapies for neurodegenerative diseases. Its pipeline mesenchymal stem cell products are being developed based on cell therapy platform NurOwn, customized for the treatment of multiple sclerosis, amyotrophic lateral sclerosis, Parkinson’s disease, Huntington’s disease, autism spectrum disorder, peripheral nerve injury and other indications. Its proprietary technology NurOwn induces mesenchymal stem cells to secrete high levels of neurotrophic factors to promote the survival of neurons. The company has operations in the US and Israel. BrainStorm Cell Therapeutics is headquartered in New York, the US.
The operating loss of the company was US$21.4 million in FY2023, compared to an operating loss of US$24.8 million in FY2022. The net loss of the company was US$17.2 million in FY2023, compared to a net loss of US$24.3 million in FY2022.
For a complete picture of NurOwn’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.
