Ycanth is a small molecule commercialized by Verrica Pharmaceuticals, with a leading Pre-Registration program in Molluscum Contagiosum. According to Globaldata, it is involved in 7 clinical trials, of which 5 were completed, 1 is ongoing, and 1 is planned. GlobalData uses proprietary data and analytics to provide a complete picture of Ycanth’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for Ycanth is expected to reach an annual total of $287 mn by 2032 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.
Ycanth Overview
Cantharidin (VP-102) is under development for the treatment of Molluscum contagiousum, warts (Verruca vulgaris) infections, subungual warts, flat warts, actinic keratosis, genital warts and seborrheic keratosis. The therapeutic candidate consist of 0.7% cantharidin.The drug candidate is a topical film forming solution applied using a VP-102 applicator.
Verrica Pharmaceuticals Overview
Verrica Pharmaceuticals (Verrica) is a biopharmaceutical company. It offers therapeutics for the treatment of skin diseases. The company offer products that include candidate, VP-102, a topical medication, is indicated for the treatment of Molluscum contagiosum and Verruca vulgaris (common warts). It is investigating YCANTH, a medication developed against Molluscum contagiosum; VP-102, targeting common and external genital warts; and VP-103, to cure Plantar warts. The company seeks to work in collaboration with pharmaceutical and biotechnology companies for the development commercialization of its products. Verrica is headquartered in West Chester, Pennsylvania, the US.
The company reported revenues of (US Dollars) US$12 million for the fiscal year ended December 2021 (FY2021). The operating loss of the company was US$30.9 million in FY2021, compared to an operating loss of US$40.2 million in FY2020. The net loss of the company was US$35.1 million in FY2021, compared to a net loss of US$42.7 million in FY2020.
The company reported revenues of US$8.3 million for the third quarter ended September 2022, compared to a revenue of US$0.2 million the previous quarter.
For a complete picture of Ycanth’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.
