SYN-020 is a recombinant enzyme commercialized by Theriva Biologics, with a leading Phase I program in Type 2 Diabetes. According to Globaldata, it is involved in 3 clinical trials, of which 2 were completed, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of SYN-020’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

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The revenue for SYN-020 is expected to reach an annual total of $21 mn by 2038 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.

SYN-020 Overview

SYN-020 is under development for the treatment of enterocolitis associated with radiation therapy, celiac disease, non alcoholic fatty liver disease, enteritis caused by radiation, metabolic syndrome and type 2 diabetes. The drug candidate is administered through oral route. It is a modified-release oral dosage form of intestinal alkaline phosphatase.

Theriva Biologics Overview

Theriva Biologics (Theriva), formerly Synthetic Biologics Inc, is a Biotechnology company. It develops novel therapeutics to treat gut microbiome. The company’s pipeline products include SYN-004 and SYN-010. Its SYN-010 is a proprietary, modified-release formulation which is intended to treat rritable bowel syndrome with constipation. Theriva’s SYN-004 is an oral prophylactic therapy for prevention of clostridium difficile infection, pathogenic overgrowth and the emergence of antimicrobial resistance. It develops preclinical monoclonal antibody therapies for the treatment of pertussis, and novel discovery stage biotherapeutics for the treatment of phenylketonuria. The company undertakes various research activities to develop therapeutics. It collaborates with various academic and pharmaceutical companies to develop its product candidates. Theriva is headquartered in Rockville, Maryland, the US.

The operating loss of the company was US$21.6 million in FY2022, compared to an operating loss of US$14.3 million in FY2021. The net loss of the company was US$19.7 million in FY2022, compared to a net loss of US$14.3 million in FY2021.

For a complete picture of SYN-020’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.

This content was updated on 7 February 2024

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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.