Stalaris is a fusion protein commercialized by aTyr Pharma, with a leading Phase III program in Pulmonary Sarcoidosis. According to Globaldata, it is involved in 6 clinical trials, of which 4 were completed, and 2 are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of Stalaris’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for Stalaris is expected to reach an annual total of $135 mn by 2037 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.
Stalaris Overview
efzofitimod (ATYR-1923) is under development for the treatment of rare pulmonary diseases with an immune component (RPIC) including interstitial lung diseases such as chronic hypersensitivity pneumonitis and connective tissue diseases (CTD-ILD), pulmonary sarcoidosis, systemic sclerosis related interstitial lung disease (SSc-ILD), rheumatoid arthritis and coronavirus disease 2019 (COVID-19) with severe pneumonia. It is administered by intravenous route. The drug candidate targets neuropilin-2. It is being developed based on tRNA synthetase platform. The drug candidate constitutes an immunoglobin Fc fused with the immuno-modulatory domain (iMod domain) of histidine aminoacyl tRNA synthetase (HARS).
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aTyr Pharma Overview
aTyr Pharma is a clinical-stage biotechnology company. It includes in discovery and clinical development of medicines for the treatment of cancer and lung diseases. The company’s ATYR1923 is a clinical-stage product candidate based on the resokine pathway which binds to the neuropilin-2 receptor harnesses immune engagement in interstitial lung diseases and other immune-mediated diseases. It also concentrates on research and development of the extracellular functionality of tRNA synthetases. aTyr Pharma also develops drugs for cancer, inflammation, neurodegenerative diseases and metabolic disorders. The company collaborates with research institutions for its research and development activities. aTyr Pharma is headquartered in San Diego, California, the US.
The company reported revenues of (US Dollars) US$10.4 million for the fiscal year ended December 2022 (FY2022). The operating loss of the company was US$46.4 million in FY2022, compared to an operating loss of US$34 million in FY2021. The net loss of the company was US$45.3 million in FY2022, compared to a net loss of US$33.8 million in FY2021.
For a complete picture of Stalaris’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.
