Tarcocimab tedromer is a monoclonal antibody conjugated commercialized by Kodiak Sciences, with a leading Phase III program in Non-Proliferative Diabetic Retinopathy (NPDR). According to Globaldata, it is involved in 8 clinical trials, of which 2 were completed, 4 are ongoing, and 2 were terminated. GlobalData uses proprietary data and analytics to provide a complete picture of Tarcocimab tedromer’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for Tarcocimab tedromer is expected to reach an annual total of $1.22 bn by 2036 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.

Tarcocimab tedromer Overview

Tarcocimab tedromer is under development for the treatment of proliferative and non-proliferative diabetic retinopathy, wet age-related macular degeneration (AMD), choroidal neovascularization and diabetic macular edema and macular edema due to retinal vein occlusion. It is administered through the intravitreal route. It acts by targeting vascular endothelial growth factor (VEGF). The drug candidate is a bioconjugate comprising two components. The first component is a recombinant, full-length humanized anti-VEGF monoclonal antibody, the second component is a branched, optically clear phosphorylcholine biopolymer which is stably attached to the antibody and which is intended to augment the stability and residence time of the bioconjugate in the eye without compromising its anti-VEGF activity. It is developed based on the high science antibody biopolymer conjugate (ABC) platform.

Kodiak Sciences Overview

Kodiak Sciences is a bio pharmaceutical company that develops therapies for treatment of chronic and high prevalence ophthalmic diseases. Its pipeline products portfolio includes KSI 301 an anti-VEGF biologic development, which offers wet AMD, diabetic macular edema, retinal vein occlusion and diabetic retinopathy; KSI-501 an anti-IL6 and anti-VEGF bispecific biopolymer conjugate; and KSI-601 a triplet biopolymer conjugate, which treats dry age-related macular degeneration. Kodiak Sciences utilizes proprietary Antibody Biopolymer Conjugate (“ABC”) Platform, that combines biologics design with next generation phosphorylcholine biopolymers. It commercializes technology to both bio-pharmaceuticals and small molecules companies. The company operates in the US and Switzerland. Kodiak Sciences is headquartered in Palo Alto, California, the US.

The operating loss of the company was US$267.1 million in FY2021, compared to an operating loss of US$136 million in FY2020. The net loss of the company was US$267 million in FY2021, compared to a net loss of US$133.1 million in FY2020.

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


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.