Pegtibatinase is a recombinant enzyme commercialized by Travere Therapeutics, with a leading Phase III program in Homocystinuria. 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 Pegtibatinase’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Pegtibatinase is expected to reach an annual total of $68 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.
Pegtibatinase Overview
Pegtibatinase (OT-58) is under development for the treatment of homocystinuria. It is administrated through subcutaneous route as a solution. The drug candidate is an enzyme replacement therapy (ERT). It is a pegylated version of truncated recombinant human cystathionine beta-synthase (CBS) enzyme.
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Travere Therapeutics Overview
Travere Therapeutics, formerly Retrophin, is a biopharmaceutical company that discovers, develops, acquires, and markets drugs for the treatment of rare diseases. The company’s products include thiola, chenodal and cholbam. It develops drugs for therapies to people living with liver, rare kidney and metabolic diseases. Travere Therapeutics pipeline products include sparsentan, used for the treatment of focal segmental glomerulosclerosis; RE-024, a product candidate to treat pantothenate kinase-associated neurodegeneration and RE-034, utilized for the treatment of severe rare diseases. The company markets its products through its distribution partners. It works in partnership with academia and independent researchers to support the development of novel solutions. Travere Therapeutics is headquartered in San Diego, California, the US.
The company reported revenues of (US Dollars) US$212 million for the fiscal year ended December 2022 (FY2022), a decrease of 6.8% over FY2021. The operating loss of the company was US$274.1 million in FY2022, compared to an operating loss of US$161.8 million in FY2021. The net loss of the company was US$278.5 million in FY2022, compared to a net loss of US$180.1 million in FY2021.
The company reported revenues of US$37.1 million for the third quarter ended September 2023, a decrease of 41.2% over the previous quarter.
For a complete picture of Pegtibatinase’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.
