Welcome to our dedicated page for Immunovant news (Ticker: IMVT), a resource for investors and traders seeking the latest updates and insights on Immunovant stock.
Immunovant, Inc. (Nasdaq: IMVT) is a clinical-stage immunology company developing FcRn-targeting monoclonal antibodies for IgG-mediated autoimmune diseases. The news flow around IMVT reflects its focus on advancing its lead asset IMVT-1402 and its first-generation antibody batoclimab through multiple clinical programs and financing events.
On this page, readers can follow company-issued updates such as quarterly and annual financial results, where Immunovant reports research and development spending, general and administrative expenses, net loss and cash position. These releases often include details on the status of potentially registrational trials of IMVT-1402 in Graves’ disease, myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, difficult-to-treat rheumatoid arthritis and Sjögren’s disease, as well as a proof-of-concept trial in cutaneous lupus erythematosus.
News items also cover clinical data readouts. Immunovant has announced topline results from a Phase 3 study of batoclimab in myasthenia gravis and initial results from a Phase 2b study in CIDP, highlighting correlations between deeper IgG reductions and improved clinical outcomes. Additional communications describe six‑month off‑treatment remission data from a batoclimab proof‑of‑concept study in uncontrolled Graves’ disease and the design of IMVT‑1402 trials informed by these findings.
Investors can also see coverage of corporate developments, including leadership transitions, changes in board composition and strategic alignment with controlling stockholder Roivant Sciences Ltd. Capital markets updates, such as the pricing of a common stock financing with anticipated gross proceeds of approximately $550 million, are reported through news releases as well.
For anyone tracking IMVT, this news feed provides company-sourced information on clinical milestones, financial reporting, governance changes and equity offerings related to Immunovant’s autoimmune disease pipeline.
Immunovant (Nasdaq: IMVT) reported financial results for its fiscal first quarter ending June 30, 2021, highlighting approximately $379 million in cash and a $200 million strategic investment from Roivant. The FDA granted Orphan Drug Designation for IMVT-1401 to treat Myasthenia Gravis. R&D expenses increased to $18.7 million, while G&A expenses rose to $11.2 million. The net loss for the quarter was $30.5 million or $0.31 per share, compared to a net loss of $26.7 million or $0.38 per share in the previous year.
Immunovant, Inc. (Nasdaq: IMVT) will host a conference call and audio webcast on August 9, 2021, at 8 a.m. ET, to discuss its financial results for the first fiscal quarter ended June 30, 2021. Following prepared remarks, there will be a live Q&A session for investors. Immunovant is focused on developing IMVT-1401, a fully human anti-FcRn monoclonal antibody aimed at treating autoimmune diseases associated with pathogenic IgG antibodies.
On August 2, 2021, Immunovant announced a strategic investment of $200 million from Roivant Sciences. This investment will support the development of IMVT-1401 across multiple indications, enhancing Immunovant's financial position with a post-investment cash balance of approximately $600 million. Roivant acquired 17,021,276 shares at $11.75 each, increasing its ownership from 57.5% to 63.8%. Immunovant plans to initiate pivotal trials for myasthenia gravis and resume trials in WAIHA and TED over the next 12 months.
Immunovant (Nasdaq: IMVT) announced plans to resume clinical development of IMVT-1401 in Myasthenia Gravis (MG) and Warm Autoimmune Hemolytic Anemia (WAIHA). The company reported a cash balance of approximately $400 million as of March 31, 2021, and net losses increased to $107.4 million for the fiscal year, up from $66.4 million in 2020. A data review indicated that IMVT-1401 has a broader therapeutic window than expected, with manageable lipid elevations. The company intends to initiate multiple clinical studies over the next year as part of its developmental strategy.
Immunovant (Nasdaq: IMVT) reported its financial results for the third quarter and nine months ended December 31, 2020. The company ended the quarter with approximately $422 million in cash. However, it voluntarily paused dosing in its clinical trials for IMVT-1401 due to elevated cholesterol levels in patients. R&D expenses rose to $21.1 million, up from $5.0 million a year earlier, while net loss for the quarter was $31.8 million ($0.32 per share), compared to $11.3 million last year. Ongoing reviews and future updates are expected in Q2 2021.
Immunovant (Nasdaq: IMVT) has appointed Dr. Rita Jain as Chief Medical Officer, bringing over 20 years of drug development expertise. Dr. Jain's extensive experience in clinical trials, particularly in immunology and inflammation, positions her to lead multiple Phase 3 programs for IMVT-1401. Additionally, due to COVID-19-related site closures, results for key trials of IMVT-1401 are now delayed, with expectations for updates in Q2 and Q3 of 2021. The company remains optimistic about IMVT-1401's potential in various therapeutic areas.
Immunovant reported its fiscal second quarter results ending September 30, 2020, with approximately $444 million in cash and a net loss of $20.8 million ($0.25 per share). R&D expenses rose to $12.0 million primarily due to increased clinical trial costs. The company appointed Michael Elliott as Chief Scientific Officer and reported positive results from its IMVT-1401 trial for Myasthenia Gravis. Additionally, they raised $188 million through a public equity offering. Upcoming results for ongoing trials are anticipated in 2021.
Immunovant, Inc. (Nasdaq: IMVT) has successfully closed its underwritten public offering of 6,060,606 shares of common stock at $33.00 per share, raising approximately $200.0 million in gross proceeds. This includes the full exercise of an underwriters’ option for an additional 790,513 shares. The offering was managed by SVB Leerink, Guggenheim Securities, and Chardan, with LifeSci Capital and Baird as co-lead managers. The registration statements for these securities became effective on September 1, 2020.
Immunovant, Inc. (Nasdaq: IMVT) appointed Michael Elliott, MBBS, PhD as Chief Scientific Officer. He brings over 23 years of R&D experience, including 17 years at Johnson & Johnson, where he led the development of innovative immunology products. Elliott will oversee the advancement of IMVT-1401, a novel antibody treatment for autoimmune diseases. The company is currently in a productive phase with three programs in Phase 2. CEO Pete Salzmann highlighted Elliott's expertise in identifying best-in-class opportunities, vital for the company’s growth.
Immunovant, Inc. (Nasdaq: IMVT) reported its financial results for the fiscal first quarter ending June 30, 2020, revealing a net loss of $26.7 million, up from $20.1 million a year prior. Cash reserves stood at approximately $280.3 million. Research and development (R&D) expenses decreased by $1.6 million to $16.9 million; however, adjusting for a one-time milestone payment in the prior year, R&D expenses actually increased by $8.5 million due to higher clinical trial costs. General and administrative (G&A) expenses surged by $8.1 million to $9.7 million, attributed to rising personnel costs and legal fees.