RNA Therapy Landscape

Wells Fargo released its analysis of the RNA therapy landscape in June (Figure 1 and Figure 2). Let’s examine and analyze what these two figures are telling us, focusing on companies and their overall pipeline status.

• Analysis of RNA Therapy Landscape Excluding Covid-19

Figure 3 depicts the numerical count of programs in different phases (Marketed, Phase III, Phase II, Phase I, and Preclinical) for various RNA modalities. Key points from Figure 3:

1. RNA as a therapeutic tool is an emerging field, with only a few products marketed so far in each modality.
2. siRNA, mRNA, and antisenseRNA dominate the RNA therapy area, with other modalities having only a few active programs.
3. mRNA has yet to produce any marketed products (excluding Covid-19).
4. Compared with siRNA and antisenseRNA, mRNA exhibits the largest jumps between preclinical, Phase I, Phase II, and Phase III, demonstrating itself as a strong and emerging therapeutic method.

• Analysis of Covid-Excluding vs. Covid-Including Programs

Figure 4 displays the number of Covid-excluding vs. Covid-including programs for different RNA modalities. Key points from Figure 4:

1. Covid has little or no influence on all other RNA modalities except for mRNA.
2. In the mRNA area, there are 24 active Covid-related programs (including 2 marketed products), representing 20.7% of the total number of programs.
3. The 2 marketed mRNA products are both Covid vaccines, indicating that the pandemic contributed to the sharp growth in mRNA programs in recent years.

• Analysis of Programs Distribution Among Companies

Figure 5 visualizes the number of programs for each company in different RNA areas. DsiRNA, with only one company having active programs (Dicerna), is not included in this data.

1. siRNA – Many companies are working on siRNA therapeutics, with several having more than 5 programs, such as Alnylam, Aarrowhead, and Sirnaomics. This therapeutic area is well-distributed among companies.
2. miRNA – Multiple players are involved in miRNA, with similar numbers of programs.
3. mRNA – Numerous players are involved, but most programs are from Moderna or BioNTech, both of which have Covid vaccines on the market and strong financial support.
4. ExonSkipping – Four players are involved, with Sarepta dominating the programs.
5. antisenseRNA – Although many companies have active programs, Ionis is the dominant player, with 30 different programs in the pipeline.
6. TargetedRNA – Only two players are involved, with a similar number of programs.

• Analysis of Major Companies

Figure 6 examines five major companies with more than 10 programs each, showing the number of programs in different stages.

1. Alnylam has more marketed products and Phase II programs, with no preclinical programs available from the analysis.
2. Aarrowhead has roughly the same number of programs in different stages.
3. BioNTech demonstrates a clear trend of increasing programs from marketed to preclinical, reflecting the impact of its mRNA vaccine approval on its rapidly growing pipeline.
4. Moderna shows an increasing pipeline from marketed products to Phase I, but a sudden decrease in preclinical programs indicates a possible budget tightening in recent years.
5. Ionis overall demonstrates an increasing pipeline from marketed products to Phase II.

Reference:

1. Press release from Wells Fargo in June.