Independent Market Access and Reimbursement Risk Assessment.

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Denecimig / Frehemgo for Prophylaxis of Bleeding Episodes in Haemophilia A

As of October 2026, MARA’s assessment finds Denecimig / Frehemgo’s reimbursement risk concentrated in comparator selection, with care pathway integration a strength; the current MARA Rating and full rationale are available in the report.

The assessment also weighs evidence quality and robustness: how solid the underlying evidence is on its own terms — trial design, size and endpoints — before any question of price is reached. The strength recorded in care pathway integration carries weight because that domain asks how the drug fits into the way care is organised today; a treatment that demands new infrastructure or displaces an established pathway faces extra scrutiny.

Hematology

This rating sits within MARA’s Hematology coverage, alongside 20 other independently assessed treatments in the same area.

What payers will ask

Is the clinical benefit the kind payers reward? — Clinical effectiveness

Denecimig demonstrated substantial reductions in treated-bleed annualized bleeding rates (ABRs) compared to on-demand treatment and prior factor prophylaxis in phase 3 trials. However, there is no direct comparative data versus emicizumab or other active non-factor prophylaxis, limiting the ability to claim superiority over these treatments.

Does the economic case hold at the expected price? — Cost effectiveness

No cost-utility analysis, ICER, or economic model was identified for denecimig. Therefore, cost-effectiveness cannot be assessed.

Is there quality-of-life evidence payers weigh? — Quality of life

Partial data on HRQoL instruments are available, but no public analysis linked these measures to utility values or demonstrated blinded comparative responsiveness. The evidence suggests minimal or mixed impact on HRQoL.

Does the safety profile hold up for payers? — Safety and Adverse Effects

Denecimig showed acceptable short-term tolerability with no thromboembolic events or clinical evidence of neutralizing antibodies reported. However, the evidence is limited by open-label ascertainment and modest exposure.

Was the drug compared against what payers expect? — Comparator Selection

The trials did not include emicizumab or other relevant non-factor prophylaxis as comparators, which are important active SOCs. The comparator selection is suboptimal for contemporary reimbursement decisions.

Is the population defined the way payers need it? — Patient Population and Subgroups

The trials included a broad range of patients, including children, adolescents, adults, and those with inhibitors. However, limited female participation and underreported race/ethnicity limit equity assessment.

Does the drug fit how care is delivered and paid for? — Care Pathway Integration

Denecimig’s flexible dosing aligns well with heterogeneous practice needs, and it was administered with a prefilled pen, suggesting minor, manageable adjustments to existing care pathways.

Are the wider system costs understood? — Resource Use and Cost Implications

No budget-impact or resource information is presented, making it impossible to assess resource use and cost implications.

Would the evidence survive payer scrutiny? — Evidence Quality and Robustness

The evidence is based on randomized phase 3 trials with prespecified endpoints. However, the absence of an active non-factor comparator and reliance on sponsor-supported congress presentations for some data limit the robustness.

How exposed is the case to uncertainty? — Uncertainty, Sensitivity, and Broader Impacts

High uncertainty exists due to the lack of direct comparative data versus emicizumab, rare thrombosis, and long-term outcomes. The absence of an economic model further contributes to uncertainty.

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