What is the current valuation of Kymera Therapeutics’s KT-413

The revenue for KT-413 is expected to reach an annual total of $168 mn by 2034 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.

KT-413 Overview

KT-413 is under development for the treatment of relapsed or refractory diffuse large B-cell lymphoma, marginal zone lymphoma, follicular lymphoma, primary central nervous system lymphoma, waldenstrom macroglobulinemia and nodular lymphocyte-predominant Hodgkin lymphoma. It is administered through intravenous route. The drug candidate is a heterobifunctional PROTAC (proteolysis targeting chimera) that induces degradation of both IRAK4 and IMiD substrates Ikaros and Aiolos with a single molecule, addressing both the IL-1R/TLR and the Type 1 IFN pathways synergistically to broaden activity against MYD88-mutant.

Kymera Therapeutics Overview

Kymera Therapeutics (Kymera) is a biopharmaceutical company that discovers and develops small molecule therapeutics for protein degradation. The company’s pipeline includes IRAK4 for the treatment of atopic dermatitis, hidradenitis suppurativa, macrophage activation syndrome, general pustular psoriasis and rheumatoid arthritis, IRAKIMiD for the treatment of MYD88 tumor, STAT3 for PTCL, LGL-L, CTCL and Solid Tumors. Kymera’s other pipeline includes MDM2 for Liquid and Solid Tumors. The company also utilizes Pegasus a drug discovery platform that allows the discovery of selective small molecule protein degraders against disease-causing proteins throughout the body. Kymera is headquartered in Watertown, Massachusetts, the US.

The company reported revenues of (US Dollars) US$46.8 million for the fiscal year ended December 2022 (FY2022), a decrease of 35.7% over FY2021. The operating loss of the company was US$161.3 million in FY2022, compared to an operating loss of US$100.5 million in FY2021. The net loss of the company was US$154.8 million in FY2022, compared to a net loss of US$100.2 million in FY2021.
The company reported revenues of US$9.5 million for the first quarter ended March 2023, a decrease of 41.3% over the previous quarter.

For a complete picture of KT-413’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.