Tarlatamab is a monoclonal antibody commercialized by Amgen, with a leading Phase III program in Small-Cell Lung Cancer. According to Globaldata, it is involved in 11 clinical trials, of which 8 are ongoing, and 3 are planned. GlobalData uses proprietary data and analytics to provide a complete picture of Tarlatamab’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

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The revenue for Tarlatamab is expected to reach an annual total of $526 mn 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.

Tarlatamab Overview

Tarlatamab-dlle (Imdelltra) acts as anti-neoplatic agent. It is formulated as lyophilized powder for solution for intravenous route of administration. It is indicated for the treatment of adult patients with extensive stage small cell lung cancer (ES-SCLC) with disease progression on or after platinum-based chemotherapy. 

Tarlatamab (AMG-757) is under development for the treatment of neuroendocrine prostate cancer (NEPC), metastatic melanoma and small cell lung cancer. The drug candidate is administered by intravenous route. The drug candidate is an extended half-life bispecific T-cell engager acts by targeting CD3 and DLL3. It is developed based on BiTE Antibody technology.

Amgen Overview

Amgen is a biotechnology company, which discovers, develops, manufactures, and markets innovative human medicines to treat patients suffering from serious diseases. It develops novel medicines for the treatment of cardiovascular conditions, oncology/hematology, inflammation, bone health, neurological disorders and nephrology conditions. The company analyzes the difficulties of disease and understands the fundamentals of human biology to develop products harnessing advanced human genetics. Amgen sells products primarily to pharmaceutical wholesale distributors in the US. It also markets certain products directly to consumers through direct-to-consumer channels and through partnerships with other companies. The company has a presence in Asia Pacific, Europe, the Middle East, the Americas and Australia. Amgen is headquartered in Thousand Oaks, California, the US.
The company reported revenues of (US Dollars) US$28,190 million for the fiscal year ended December 2023 (FY2023), an increase of 7.1% over FY2022. In FY2023, the company’s operating margin was 28.3%, compared to an operating margin of 36.6% in FY2022. In FY2023, the company recorded a net margin of 23.8%, compared to a net margin of 24.9% in FY2022. The company reported revenues of US$7,447 million for the first quarter ended March 2024, a decrease of 9.1% over the previous quarter.

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

This content was updated on 20 May 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.