Immunovant Provides Corporate Updates and Reports Financial Results for the Quarter Ended June 30, 2025
Immunovant (Nasdaq: IMVT) announced significant progress in its clinical development programs and financial results for Q2 2025. The company initiated two potentially registrational studies in June 2025: one for IMVT-1402 in Graves' disease (GD) and another for Sjögren's disease (SjD).
The company maintains a strong financial position with $598.9 million in cash, providing runway through GD readout expected in 2027. R&D expenses increased to $101.2 million, up from $75.5 million year-over-year, while net loss widened to $120.6 million ($0.71 per share).
Key upcoming milestones include batoclimab GD remission data in September 2025, and multiple trial results expected in 2026-2027 across various indications including D2T RA, CLE, GD, and MG.
Immunovant (Nasdaq: IMVT) ha annunciato progressi significativi nei suoi programmi di sviluppo clinico e i risultati finanziari per il 2° trimestre 2025. A giugno 2025 la società ha avviato due studi potenzialmente registrativi: uno per IMVT-1402 nella malattia di Graves (GD) e un altro per la sindrome di Sjögren (SjD).
La società mantiene una posizione finanziaria solida con $598.9 million in cassa, garantendo risorse fino all'esito dello studio GD previsto per il 2027. Le spese di R&S sono salite a $101.2 million, rispetto a $75.5 million anno su anno, mentre la perdita netta si è ampliata a $120.6 million ($0.71 per azione).
I principali traguardi imminenti includono i dati di remissione di batoclimab in GD attesi per settembre 2025 e diversi risultati di studi previsti tra il 2026 e il 2027 per indicazioni come D2T RA, CLE, GD e MG.
Immunovant (Nasdaq: IMVT) anunció avances significativos en sus programas de desarrollo clínico y los resultados financieros del segundo trimestre de 2025. En junio de 2025 la compañía inició dos estudios potencialmente registratorios: uno para IMVT-1402 en la enfermedad de Graves (GD) y otro para el síndrome de Sjögren (SjD).
La compañía mantiene una sólida posición financiera con $598.9 million en efectivo, que proporciona financiación hasta la lectura de resultados de GD prevista para 2027. Los gastos de I+D aumentaron a $101.2 million, desde $75.5 million interanual, mientras que la pérdida neta se amplió a $120.6 million ($0.71 por acción).
Los hitos próximos incluyen los datos de remisión de batoclimab en GD en septiembre de 2025, y múltiples resultados de ensayos esperados entre 2026 y 2027 en indicaciones como D2T RA, CLE, GD y MG.
Immunovant (Nasdaq: IMVT)는 2025년 2분기 임상 개발 프로그램과 재무 실적에서 중요한 진전을 발표했습니다. 회사는 2025년 6월 잠재적 허가용(registrational) 임상시험 두 건을 시작했는데, 하나는 IMVT-1402의 그레이브스병(GD)을 대상으로 하고 다른 하나는 쇼그렌증후군(SjD)을 대상으로 합니다.
회사는 $598.9 million의 현금을 보유해 GD 결과 발표(2027년 예정)까지의 자금을 확보하고 있습니다. 연구개발비는 $101.2 million으로 전년의 $75.5 million에서 증가했으며, 순손실은 $120.6 million($0.71 주당)으로 확대되었습니다.
향후 주요 일정으로는 2025년 9월 예정된 배토클리맙(batoclimab)의 GD 관해(remission) 데이터 공개와 2026~2027년 사이 D2T RA, CLE, GD, MG 등 여러 적응증에서의 임상 결과 발표가 포함됩니다.
Immunovant (Nasdaq: IMVT) a annoncé des progrès significatifs dans ses programmes de développement clinique et ses résultats financiers pour le 2e trimestre 2025. En juin 2025, la société a lancé deux essais potentiellement registratoires : l'un pour IMVT-1402 dans la maladie de Basedow / Graves' disease (GD) et l'autre pour le syndrome de Sjögren (SjD).
La société conserve une position financière solide avec $598.9 million de liquidités, assurant la trésorerie jusqu'aux résultats GD attendus en 2027. Les dépenses de R&D ont augmenté à $101.2 million, contre $75.5 million sur un an, tandis que la perte nette s'est creusée à $120.6 million (0,71 $ par action).
Les principaux jalons à venir incluent les données de rémission de batoclimab en GD en septembre 2025, et plusieurs résultats d'essais attendus en 2026‑2027 pour des indications telles que D2T RA, CLE, GD et MG.
Immunovant (Nasdaq: IMVT) meldete bedeutende Fortschritte in seinen klinischen Entwicklungsprogrammen und die Finanzergebnisse für das 2. Quartal 2025. Im Juni 2025 startete das Unternehmen zwei potenziell zulassungsrelevante Studien: eine für IMVT-1402 bei Morbus Basedow / Graves' disease (GD) und eine weitere beim Sjögren-Syndrom (SjD).
Das Unternehmen verfügt über eine starke finanzielle Basis mit $598.9 million in bar, was den Betrieb bis zum GD-Ergebnis, das für 2027 erwartet wird, absichert. Die F&E-Ausgaben stiegen auf $101.2 million gegenüber $75.5 million im Vorjahreszeitraum, während der Nettoverlust auf $120.6 million ($0.71 je Aktie) anstieg.
Zentrale bevorstehende Meilensteine sind die Batoclimab-GD-Remissionsdaten im September 2025 sowie mehrere Studienergebnisse, die für 2026–2027 in Indikationen wie D2T RA, CLE, GD und MG erwartet werden.
- Strong cash position of $598.9M providing runway through 2027 GD readout
- Expansion of clinical pipeline with two new potentially registrational trials
- All six clinical development programs remain on track
- Multiple near-term catalysts with data readouts scheduled for 2025-2027
- Increased net loss to $120.6M from $87.2M year-over-year
- Higher R&D expenses at $101.2M, up 34% from previous year
- Increased G&A expenses to $26.0M from $18.8M year-over-year
Insights
Immunovant shows promising pipeline progress across six indications despite widening losses, with adequate cash runway through key 2027 readouts.
Immunovant's Q1 update highlights significant pipeline expansion with the initiation of two potentially registrational studies for IMVT-1402 in Graves' disease and Sjögren's disease in June 2025. This acceleration demonstrates management's confidence in their FcRn inhibitor platform and suggests positive internal data supporting broader development.
The company is now pursuing an ambitious development strategy across six indications simultaneously, including difficult-to-treat rheumatoid arthritis, myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, and cutaneous lupus erythematosus. This multi-indication approach maximizes the platform potential but also increases execution risk and cash burn.
The upcoming remission data from the batoclimab proof-of-concept study in Graves' disease at the ATA meeting in September 2025 will be particularly significant. Positive results would validate both their FcRn platform broadly and potentially de-risk the ongoing IMVT-1402 studies in the same indication.
The clinical development timeline remains on track with a structured sequence of readouts planned through 2027. This suggests organizational capacity to manage multiple concurrent trials despite the complexity. The cash position of
The
Immunovant's expanding clinical pipeline increases cash burn as losses widen, but $598.9M cash position provides runway through critical 2027 readouts.
Immunovant's Q1 fiscal 2026 results reveal a company in aggressive clinical expansion mode, with finances reflecting this strategic priority. The
Net losses increased to
G&A expenses also rose significantly by
The quarterly cash burn rate of approximately
With 171,069,176 shares outstanding, the company appears to have a stable capital structure for now. However, investors should closely monitor how efficiently capital is deployed across the six indications being pursued simultaneously. The breadth of clinical programs creates multiple shots on goal but also increases financial risk if early readouts disappoint.
The company's focus on clinical execution rather than pursuing additional indications shows appropriate capital discipline given the already ambitious development timeline. The 2026-2027 readout schedule across multiple indications will be critical inflection points that could significantly impact Immunovant's valuation and financing options.
- Initiated a second potentially registrational study of IMVT-1402 in Graves’ disease (GD) and a potentially registrational study of IMVT-1402 in Sjögren’s disease (SjD), both in June 2025
- All other clinical trials in previously announced six-indications remain on track with increased focus on clinical execution
- Remission data from the batoclimab proof-of-concept study in GD to be reported at the American Thyroid Association (ATA) Annual Meeting in September 2025
- Current cash balance provides runway for announced indications through GD readout expected in 2027
NEW YORK, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today reported corporate updates and financial results for the quarter ended June 30, 2025.
Recent Highlights and Upcoming Milestones:
In June 2025, Immunovant initiated a second potentially registrational trial evaluating IMVT-1402 in GD and a potentially registrational trial evaluating IMVT-1402 in SjD. All clinical development timelines remain on track for IMVT-1402 across six announced indications, including potentially registrational trials in Graves’ disease (GD), difficult-to-treat rheumatoid arthritis (D2T RA), myasthenia gravis (MG), chronic inflammatory demyelinating polyneuropathy (CIDP) and Sjögren’s disease (SjD), and a proof-of-concept trial in cutaneous lupus erythematosus (CLE).
“We remain laser-focused on executing on our development plans, and all ongoing trials remain on track as we progress IMVT-1402 through the clinic,” said Eric Venker, M.D., CEO of Immunovant. Immunovant expects to report remission data from the batoclimab proof-of-concept study in GD at the American Thyroid Association (ATA) Annual Meeting in September 2025.
In the calendar year 2026, the company expects to report results from the open-label portion of the potentially registrational trial of IMVT-1402 in D2T RA and top-line results from the proof-of-concept trial of IMVT-1402 in CLE. In the calendar year 2027, top-line results are expected across three indications from the potentially registrational trials of IMVT-1402 in D2T RA, GD and MG.
Financial Highlights for Fiscal First Quarter Ended June 30, 2025:
Cash Position: As of June 30, 2025, Immunovant’s cash and cash equivalents totaled approximately
Research and Development Expenses: Research and development (R&D) expenses were
Non-GAAP R&D expenses were
General and Administrative Expenses: General and administrative (G&A) expenses were
Non-GAAP G&A expenses were
Net Loss: Net loss was
Common Stock: As of June 30, 2025, there were 171,069,176 shares of common stock issued and outstanding.
Non-GAAP Financial Measures: In addition to reporting the financial results in accordance with accounting principles generally accepted in the United States of America (GAAP), Immunovant reports certain financial results that differ from what is reported under GAAP. Immunovant believes these non-GAAP financial measures are useful to investors and others because they allow for additional information with respect to financial measures used by management in its financial and operational decision-making and they may be used by institutional investors and the analyst community to help them analyze the health of Immunovant’s business. However, there are a number of limitations related to the use of non-GAAP financial measures, and these non-GAAP measures should be considered in addition to, not as a substitute for or in isolation from, Immunovant’s financial results prepared in accordance with GAAP. Other companies, including companies in Immunovant’s industry, may calculate these non-GAAP financial measures differently or not at all, which reduces their usefulness as comparative measures.
About Immunovant, Inc.
Immunovant, Inc. is a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases. As a trailblazer in anti-FcRn technology, the Company is developing innovative, targeted therapies to meet the complex and variable needs of people with autoimmune diseases. For additional information on the Company, please visit immunovant.com.
Forward-Looking Statements
This press release contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as "can," “may,” “might,” “will,” “would,” “should,” “expect,” “believe,” “estimate,” “design,” “plan,” "intend," and other similar expressions are intended to identify forward-looking statements. Such forward looking statements include statements regarding Immunovant’s expectations regarding the timing, design, and results of clinical trials of IMVT-1402; Immunovant’s plan to develop IMVT-1402 across a broad range of indications; and Immunovant’s anticipated cash runway. All forward-looking statements are based on estimates and assumptions by Immunovant’s management that, although Immunovant believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Immunovant expected. Such risks and uncertainties include, among others: Immunovant may not be able to protect or enforce its intellectual property rights; initial results or other preliminary analyses or results of early clinical trials may not be predictive final trial results or of the results of later clinical trials; the timing and availability of data from clinical trials; the timing of discussions with regulatory agencies, as well as regulatory submissions and potential approvals; the continued development of Immunovant’s product candidates, including the number and timing of the commencement of additional clinical trials; Immunovant’s scientific approach, clinical trial design, indication selection, and general development progress; future clinical trials may not confirm any safety, potency, or other product characteristics described or assumed in this press release; any product candidate that Immunovant develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; Immunovant’s product candidates may not be beneficial to patients, or even if approved by regulatory authorities, successfully commercialized; the potential impact of global factors, such as international trade tariffs, geopolitical tensions, and adverse macroeconomic conditions on Immunovant’s business operations and supply chain, including its clinical development plans and timelines; Immunovant’s business is heavily dependent on the successful development, regulatory approval, and commercialization of IMVT-1402 or batoclimab; Immunovant is at various stages of clinical development for IMVT-1402 and batoclimab; and Immunovant will require additional capital to fund its operations and advance IMVT-1402 and batoclimab through clinical development. These and other risks and uncertainties are more fully described in Immunovant’s periodic and other reports filed with the Securities and Exchange Commission (SEC), including in the section titled “Risk Factors” in Immunovant’s Annual Report on Form 10-K filed with the SEC on May 29, 2025, as updated by its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and Immunovant’s subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Immunovant undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
| IMMUNOVANT, INC. Condensed Consolidated Statements of Operations (Unaudited, in thousands, except share and per share data) | ||||||||
| Three Months Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Operating expenses: | ||||||||
| Research and development | $ | 101,200 | $ | 75,473 | ||||
| General and administrative | 26,024 | 18,808 | ||||||
| Total operating expenses | 127,224 | 94,281 | ||||||
| Interest income, net | (6,337 | ) | (7,180 | ) | ||||
| Other income, net | (1,187 | ) | (28 | ) | ||||
| Loss before provision for income taxes | (119,700 | ) | (87,073 | ) | ||||
| Provision for income taxes | 913 | 77 | ||||||
| Net loss | $ | (120,613 | ) | $ | (87,150 | ) | ||
| Net loss per common share – basic and diluted | $ | (0.71 | ) | $ | (0.60 | ) | ||
| Weighted-average common shares outstanding – basic and diluted | 170,872,994 | 146,085,729 | ||||||
| IMMUNOVANT, INC. Condensed Consolidated Balance Sheets (Unaudited, in thousands, except share and per share data) | ||||||||
| June 30, 2025 | March 31, 2025 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 598,912 | $ | 713,971 | ||||
| Accounts receivable | 1,936 | 2,084 | ||||||
| Prepaid expenses and other current assets | 50,915 | 51,705 | ||||||
| Total current assets | 651,763 | 767,760 | ||||||
| Property and equipment, net | 737 | 844 | ||||||
| Other assets | 8,940 | 7,618 | ||||||
| Total assets | $ | 661,440 | $ | 776,222 | ||||
| Liabilities and Stockholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 7,843 | $ | 17,656 | ||||
| Accrued expenses and other current liabilities | 45,057 | 51,119 | ||||||
| Total current liabilities | 52,900 | 68,775 | ||||||
| Total liabilities | 52,900 | 68,775 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity: | ||||||||
| Series A preferred stock, par value | — | — | ||||||
| Preferred stock, par value | — | — | ||||||
| Common stock, par value | 16 | 16 | ||||||
| Additional paid-in capital | 1,966,923 | 1,945,495 | ||||||
| Accumulated other comprehensive income | 1,737 | 1,459 | ||||||
| Accumulated deficit | (1,360,136 | ) | (1,239,523 | ) | ||||
| Total stockholders’ equity | 608,540 | 707,447 | ||||||
| Total liabilities and stockholders’ equity | $ | 661,400 | $ | 776,222 | ||||
| IMMUNOVANT, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited, in thousands) | |||||||||||
| Three Months Ended June 30, | |||||||||||
| Note | 2025 | 2024 | |||||||||
| Net loss: | $ | (120,613 | ) | $ | (87,150 | ) | |||||
| Adjustments | |||||||||||
| Research and development: | |||||||||||
| Stock-based compensation | (1) | 7,865 | 7,185 | ||||||||
| General and administrative: | |||||||||||
| Stock-based compensation | (1) | 10,645 | 6,270 | ||||||||
| Estimated income tax impact from adjustments | 42 | (113 | ) | ||||||||
| Adjusted net loss (Non-GAAP) | $ | (102,061 | ) | $ | (73,808 | ) | |||||
| Three Months Ended June 30, | |||||||||
| Note | 2025 | 2024 | |||||||
| Research and Development Expenses | $ | 101,200 | $ | 75,473 | |||||
| Adjustments: | |||||||||
| Stock-based compensation | (1) | 7,865 | 7,185 | ||||||
| Adjusted research and development expenses (Non-GAAP) | $ | 93,335 | $ | 68,288 | |||||
| Three Months Ended June 30, | |||||||||
| Note | 2025 | 2024 | |||||||
| General and Administrative Expenses | $ | 26,024 | $ | 18,808 | |||||
| Adjustments: | |||||||||
| Stock-based compensation | (1) | 10,645 | 6,270 | ||||||
| Adjusted general and administrative expenses (Non-GAAP) | $ | 15,379 | $ | 12,538 | |||||
(1) Represents non-cash stock-based compensation expense
Contacts:
Investors
Keyur Parekh
keyur.parekh@roivant.com
Media
Stephanie Lee
stephanie.lee@roivant.com
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