TARA-002 is a cell therapy commercialized by Protara Therapeutics, with a leading Phase II program in Non Muscle Invasive Bladder Cancer (NMIBC) (Superficial Bladder Cancer). 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 TARA-002’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for TARA-002 is expected to reach an annual total of $74 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.
TARA-002 Overview
TARA-002 is under development for the treatment of cancers (lymphangiomas), rare diseases like macrocystic lymphatic malformations, ranula, urothelial cancer, non-muscle invasive bladder cancer and triple-negative breast cancer (TNBC). It is administered through intravesical route. The drug candidate acts by targeting Toll Like Receptor 4 (TLR4). TARA-002 is a lyophilized, cellular therapy based on OK-432, a genetically distinct strain of Streptococcus Pyogenes which is rendered nonvirulent through a proprietary manufacturing process. This process retains the Streptococcus antigen properties while eliminating the infectious properties of the bacteria.
Protara Therapeutics Overview
Protara Therapeutics develops transformative therapies. It focuses on advancing transformative therapies for the treatment of cancer and rare diseases. The company portfolio includes its lead program, TARA-002, an investigational cell therapy in development for the treatment of non-muscle invasive bladder cancer and lymphatic malformations, and IV Choline Chloride, an investigational, intravenous phospholipid substrate replacement therapy in development for the treatment of intestinal failure-associated liver disease. Protara Therapeutics is headquartered in New York City, New York, the US.
The operating loss of the company was US$43.6 million in FY2023, compared to an operating loss of US$67.1 million in FY2022. The net loss of the company was US$40.4 million in FY2023, compared to a net loss of US$66 million in FY2022.
For a complete picture of TARA-002’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.
