STRO-001 is a monoclonal antibody conjugated commercialized by Sutro Biopharma, with a leading Phase I program in Relapsed Multiple Myeloma. According to Globaldata, it is involved in 2 clinical trials, of which 1 is ongoing, and 1 was terminated. GlobalData uses proprietary data and analytics to provide a complete picture of STRO-001’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for STRO-001 is expected to reach an annual total of $20 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.
STRO-001 Overview
STRO-001 is under development for the treatment of relapsed and refractory advanced B-Cell malignancies such as multiple myeloma, diffuse large B-cell lymphoma, follicular lymphoma, Burkitt lymphoma, acute myeloid leukemia (AML), marginal zone b-cell lymphoma, hematologic malignancies and mantle cell lymphoma. It is administered through intravenous route. The therapeutic candidate is a monoclonal antibody conjugate targeting cells expressing CD74. It is based on Xpress CF technology using non-natural amino acids.
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Sutro Biopharma Overview
Sutro Biopharma is a clinical-stage oncology company. It develops next-generation cancer therapeutics which include antibody-drug conjugates (ADCs), bispecific antibodies, cytokine-based immuno-oncology therapies and vaccines through the XpressCF and XpressCF+ platforms. The company’s pipeline products include STRO-001 to treat B-cell malignancies; STRO-002, luvelta treats ovarian cancer, endometrial cancer, adenocarcinoma, non-small cell lung cancer, GLlS2 pediatric acute myeloid leukemia; STRO-003 treats solid tumors, hematological cancers, STRO-004 treat solid tumors, VAX-24, MK-1484 treats invasive pneumococcal disease and metastatic solid tumors. It works in collaboration with Merck & Co., Inc and Astellas Pharma Inc., among others. Sutro Biopharma is headquartered in South San Francisco, California, the US.
The company reported revenues of (US Dollars) US$67.8 million for the fiscal year ended December 2022 (FY2022), an increase of 9.5% over FY2021. The operating loss of the company was US$128.9 million in FY2022, compared to an operating loss of US$98.5 million in FY2021. The net loss of the company was US$119.2 million in FY2022, compared to a net loss of US$105.5 million in FY2021.
The company reported revenues of US$16.9 million for the third quarter ended September 2023, an increase of 62.5% over the previous quarter.
For a complete picture of STRO-001’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.
