XB-002 is a monoclonal antibody conjugated commercialized by Exelixis, with a leading Phase II program in Esophageal Squamous Cell Carcinoma (ESCC). According to Globaldata, it is involved in 1 clinical trial, which is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of XB-002’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.
The revenue for XB-002 is expected to reach an annual total of $203 mn by 2037 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.
XB-002 Overview
XB-002 is under development for the treatment of solid tumors including peritoneal cancer, fallopian tube cancer, non-small cell lung cancer, epithelial ovarian cancer, cervical cancer, pancreatic cancer and head and neck cancer squamous cell carcinoma esophageal, metastatic castrate resistant prostate cancer (mCRPC), triple negative breast cancer (TNBC), colorectal cancer, oral cavity cancer, oropharyngeal cancer, hypopharyngeal cancer, laryngeal cancer, endometrial cancer, human epidermal growth factor receptor 2 negative breast cancer and hormone receptor-positive breast cancer. It is administered through intravenous route in the form of solution. The drug candidate is a second generation antibody drug conjugate which acts by targeting the tissue factor (TF). It is being developed based on ZymeLink Auristatin and ZymeLink Hemiasterlin technology.
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It was also under development for urothelial cancer including renal pelvis, ureter, urinary bladder cancer, urethral cancer.
Exelixis Overview
Exelixis is a biopharmaceutical company that focuses on the development and commercialization of small molecule therapies for the treatment of cancer. The company’s marketed products include, Cometriq (cabozantinib), an inhibitor of multiple receptor tyrosine kinases; Cabometyx (cabozantinib) developed for the treatment of patients with advanced renal cell carcinoma (RCC) and hepatocellular carcinoma (HCC). The company’s pipeline product candidates include zanzalintinib, XB002 and XL102 for the treatment of advanced or metastatic solid tumors and CBX-12 for advanced metastatic refractory solid tumors. The company has collaborative partnerships with biopharmaceutical companies to advance the development of potential therapies for cancer and other serious diseases. Exelixis is headquartered in Alameda, California, the US.
The company reported revenues of (US Dollars) US$1,611.1 million for the fiscal year ended December 2022 (FY2022), an increase of 12.3% over FY2021. In FY2022, the company’s operating margin was 12.5%, compared to an operating margin of 20% in FY2021. In FY2022, the company recorded a net margin of 11.3%, compared to a net margin of 16.1% in FY2021.
For a complete picture of XB-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.
