Pegozafermin is a recombinant protein commercialized by 89bio, with a leading Phase III program in Hypertriglyceridemia. According to Globaldata, it is involved in 9 clinical trials, of which 5 were completed, 3 are ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of Pegozafermin’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Pegozafermin is expected to reach an annual total of $1.55 bn by 2038 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.
Pegozafermin Overview
pegozafermin (BIO89-100) is under development for the treatment of non-alcoholic steatohepatitis (NASH), non-alcoholic fatty liver disease, liver cirrhosis, fibrosis and severe hypertriglyceridemia. It is a long-acting glycopegylated fibroblast growth factor 21 (FGF21) analog. The drug candidate acts by targeting FGF21R (composed of co-receptors FGFR1c, 2c and 3c and KLB). It is administered subcutaneously. It is developed based on glycopegylation technology to prolong the half-life of FGF21.
89bio Overview
89bio is a clinical-stage biopharmaceutical company. It focuses on developing medicines for the treatment of nonalcoholic steatohepatitis (NASH) and other liver and metabolic disorders. Its lead product candidate BIO89-100, a new long-acting glycopegylated fibroblast growth factor 21 (FGF21) analogue, was formulated harnessing a proprietary glycopegylation technology that helps extend the half-life and enhance the biological functioning of native FGF21, allowing for extended-interval dosing and substantial improvement in biomarkers including body weight, blood glucose, and lipids in NASH patients. 89bio acquired a pipeline of biologic and small molecule drug candidates from Teva Pharmaceuticals. OrbiMed Israel and OrbiMed US are the founding investors of 89bio. It has operations with R&D in Herzliya, Israel. 89bio is headquartered in Menlo Park, California, the US.
The operating loss of the company was US$152.4 million in FY2023, compared to an operating loss of US$102.3 million in FY2022. The net loss of the company was US$142.2 million in FY2023, compared to a net loss of US$102 million in FY2022.
For a complete picture of Pegozafermin’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.
