PRX-012 is a monoclonal antibody commercialized by Prothena Corp, with a leading Phase I program in Alzheimer’s Disease. 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 PRX-012’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for PRX-012 is expected to reach an annual total of $56 mn by 2039 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.
PRX-012 Overview
PRX-012 is under development for the treatment of Alzheimer's disease. The drug candidate acts by targeting amyloid beta peptide (amyloid precursor protein). It is administered throug subcutaneous route.
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Prothena Corp Overview
Prothena Corp (Prothena) discovers and develops therapies for the treatment of neurological disorders. It is evaluating Prasinezumab (PRX002/RG7935), a monoclonal antibody targeting alpha-synuclein protein, against Parkinson’s disease and other related synucleinopathies and PRX004, an investigational antibody to treat transthyretin amyloidosis (ATTR amyloidosis), by targeting and clearing the misfolded (toxic) forms of the TTR amyloid protein. The company is also advancing its pipeline to treat Alzheimer’s disease (AD), frontotemporal dementia and amyotrophic lateral sclerosis (ALS). Prothena works in collaboration with Roche Holding AG, Bristol Myers Squibb and other companies to develop its products. Prothena is headquartered in Dublin, Ireland.
The company reported revenues of (US Dollars) US$53.9 million for the fiscal year ended December 2022 (FY2022), a decrease of 73.1% over FY2021. The operating loss of the company was US$131.6 million in FY2022, compared to an operating profit of US$72 million in FY2021. The net loss of the company was US$117 million in FY2022, compared to a net profit of US$67 million in FY2021.
The company reported revenues of US$2.2 million for the first quarter ended March 2023, a decrease of 95.7% over the previous quarter.
For a complete picture of PRX-012’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.
