TSHA-102 is a gene therapy commercialized by Taysha Gene Therapies, with a leading Phase II program in Rett Syndrome. According to Globaldata, it is involved in 2 clinical trials, which are ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of TSHA-102’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
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The revenue for TSHA-102 is expected to reach an annual total of $52 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.
TSHA-102 Overview
TSHA-102 (TGTX-104) is under development for the treatment of rett syndrome. It is a gene replacement therapy and is administered by intrathecal route. The therapeutic candidate comprises of recombinant adeno-associated virus (rAAV) vector encoding with MECP2 gene. It is developed based on adeno associated virus (AAV) discovery platform and miRNA-Responsive Auto-Regulatory Element (miRARE) platform.
Taysha Gene Therapies Overview
Taysha Gene Therapies (Taysha) discovers, develops and commercializes AAV (adeno-associated virus) based gene therapies to treat monogenic central nervous system disorders. The company offers pipeline products such as TSHA-120 is for the treatment of Giant Axonal Neuropathy, TSHA-102 is for the treatment of Rett Syndrome, TSHA-118 is for the treatment of CLN1 Disease. It is developing AAV redosing, regulated transgene expression, and novel capsid platform technologies to design and deliver its therapies. Taysha is headquartered in Dallas, Texas, the US.
The company reported revenues of (US Dollars) US$2.5 million for the fiscal year ended December 2022 (FY2022). The operating loss of the company was US$162.5 million in FY2022, compared to an operating loss of US$173.3 million in FY2021. The net loss of the company was US$166 million in FY2022, compared to a net loss of US$174.5 million in FY2021.
The company reported revenues of US$4.8 million for the third quarter ended September 2023, an increase of 98.2% over the previous quarter.
For a complete picture of TSHA-102’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.
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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.
