Pelabresib is a small molecule commercialized by MorphoSys, with a leading Phase III program in Post-Essential Thrombocythemia Myelofibrosis (Post-ET MF). According to Globaldata, it is involved in 7 clinical trials, of which 4 were completed, 1 is ongoing, and 2 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of Pelabresibs valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Pelabresib is expected to reach an annual total of $397 mn by 2034 in the US based off GlobalDatas Expiry Model. The drugs 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 drugs 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.
Pelabresib Overview
Pelabresib (CPI-0610) is under development for the treatment of acute myelocytic leukemia (AML, Acute Myeloblastic Leukemia), myelodysplastic syndrome or myelodysplastic/myeloproliferative neoplasms myelofibrosis, primary myelofibrosis, post-polycythemia vera myelofibrosis and post-essential thrombocythemia myelofibrosis. The drug candidate is administered orally and is a new molecular entity. It acts by targeting bromodomain and extra-terminal (BET) proteins (BRD2, BRD3, BRD4, and BRDT). It was also under development for the treatment of non-Hodgkin lymphomas including diffuse large cell B-cell lymphoma (DLBCL), follicular lymphoma, Hodgkin lymphoma, multiple myeloma.
MorphoSys Overview
MorphoSys is a biopharmaceutical company that develops monoclonal antibodies for therapeutic and research applications, with a focus on the treatment of cancer and autoimmune diseases. The companys clinical programs include Pelabresib, a small molecule BET inhibitor for anti-tumor activity and Tulmimetostat, a dual inhibitor of EZH2 and EZH1 for anti-tumor activity. It provides clinical trials for cancer and inflammatory disorders. MorphoSys also conducts research and development activities with pharmaceutical and biotechnology companies. It operates through subsidiaries in the US and Germany. MorphoSys is headquartered in Planegg, Bayern, Germany.
The company reported revenues of (Euro) EUR238.3 million for the fiscal year ended December 2023 (FY2023), a decrease of 14.4% over FY2022. The operating loss of the company was EUR254.1 million in FY2023, compared to an operating loss of EUR224.3 million in FY2022. The net loss of the company was EUR189.7 million in FY2023, compared to a net loss of EUR151.1 million in FY2022.
The company reported revenues of EUR27.5 million for the first quarter ended March 2024, a decrease of 53.3% over the previous quarter.
For a complete picture of Pelabresibs valuation, buy the drugs 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.
