Petosemtamab is a monoclonal antibody commercialized by Merus, with a leading Phase II program in Esophageal Squamous Cell Carcinoma (ESCC). According to Globaldata, it is involved in 2 clinical trials, of which 1 is ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of Petosemtamab’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Petosemtamab is expected to reach an annual total of $215 mn by 2038 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.
Petosemtamab Overview
Petosemtamab (MCLA-158) is under development for the treatment of metastatic colorectal cancer and other solid tumors including non-small cell lung cancer, squamous non-small cell lung cancer, gastric cancer, pancreatic cancer, salivary gland cancer, squamous esophageal cancer and recurrent head and neck squamous cell carcinoma. The therapeutic candidate is administered through intravenous route. It is a bi-specific monoclonal antibody which acts by targeting leucine rich repeat containing G protein-coupled receptor 5 (LGR5) and epidermal growth factor receptor (EGFR). The therapeutic candidate is developed based on ADCC-Biclonics technology platform.
It was also under development for the treatment of adenocarcinoma of the gastroesophageal junction, cervical cancer, vaginal cancer, vulvar cancer, penile cancer, anal cancer.
Merus Overview
Merus is a clinical-stage oncology company that develops innovative antibody therapeutics. The company utilizes the Multiclonics, Biclonics and Triclonics platforms to develop human bispecific and tri-specific antibodies. Its pipeline products include petosemtamab (MCLA-158), a low-fucose human full-length IgG1 antibody that targets head and neck squamous cell carcinoma (HNSCC); MCLA-129 and MCLA-145 targeting advanced non-small cell lung cancer (NSCLC) and solid tumors; Zenocutuzumab (MCLA-128), antibody-dependent cell-mediated cytotoxicity (ADCC) drug for non-small cell lung cancer and pancreatic cancer; ONO-4685 for refractory T cell lymphoma and psoriasis; and INCA32459 and INCA33890 for advanced malignancies and select advanced solid tumors. The company operates through its subsidiaries in the Netherlands and the US. Merus is headquartered in Utrecht, the Netherlands.
The company reported revenues of (US Dollars) US$44 million for the fiscal year ended December 2023 (FY2023), an increase of 5.7% over FY2022. The operating loss of the company was US$156.6 million in FY2023, compared to an operating loss of US$160 million in FY2022. The net loss of the company was US$154.9 million in FY2023, compared to a net loss of US$131.2 million in FY2022.
For a complete picture of Petosemtamab’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.
