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Roivant Sciences (ROIVW) delivers innovative biopharmaceutical solutions through its subsidiary-driven model, focusing on unmet needs in immunology and dermatology. This news hub provides investors and industry professionals with essential updates on clinical developments, regulatory milestones, and strategic initiatives.
Access real-time announcements including clinical trial results, FDA submissions, and subsidiary partnerships. Our curated feed ensures you never miss critical updates about novel antibody therapies, small molecule advancements, or commercial-stage product launches.
Key resources include earnings reports, research collaborations, and pipeline expansion announcements. Bookmark this page for streamlined tracking of Roivant's progress in autoimmune disease treatments and topical therapeutic innovations. Check regularly for authoritative updates directly impacting market positioning and therapeutic development timelines.
Roivant Sciences (Nasdaq: ROIV) announced the resignation of founder Vivek Ramaswamy from its board of directors to focus on his U.S. presidential campaign. Ramaswamy founded Roivant in 2014, leading to six FDA approvals for drugs developed by the company, including VTAMA in 2022. He transitioned out of his CEO role in January 2021 and served as Chairman until February 20, 2023. CEO Matt Gline expressed gratitude for Ramaswamy's contributions and emphasized the company's mission to transform drug development remains intact.
Roivant Sciences reported $9.2 million in net product revenue from VTAMA for Q3 2022, with nearly 100,000 prescriptions written by 8,600 prescribers since its launch. 57% of commercial lives are now covered for VTAMA. The company has fully enrolled two Phase 3 trials for tapinarof and established a partnership with Pfizer to develop RVT-3101, showing statistically significant efficacy in treating ulcerative colitis. Following strong investor demand, Roivant upsized its primary equity offering to $230 million, enhancing its cash runway into 2H 2025. As of December 31, 2022, cash and equivalents stood at $1.5 billion, which will be bolstered by upcoming asset sales.
Roivant Sciences (Nasdaq: ROIV) has announced the pricing of an upsized public offering of 26,666,666 common shares at $7.50 each, aiming for gross proceeds of approximately $200 million. The offering will close on February 7, 2023, subject to standard conditions. An additional 3,999,999 shares may be acquired by underwriters within 30 days. The shares are offered under a previously filed registration statement with the SEC, which was declared effective on October 3, 2022. This move is part of Roivant's strategy to enhance its capital position to support ongoing operations and development.
Roivant Sciences Ltd. (Nasdaq: ROIV) has announced a public offering of $150 million in common shares, with an additional $22.5 million option for underwriters. Goldman Sachs & Co. LLC, SVB Securities LLC, Cowen and Company, and Cantor Fitzgerald & Co. are the bookrunning managers for this offering. The shares are offered under a registration statement previously filed with the SEC, effective since October 3, 2022. Market conditions may affect the offering's completion time and terms. This announcement does not constitute an offer to sell or a solicitation to buy these securities.
Roivant Sciences (Nasdaq: ROIV) will host a live conference call and webcast on February 13, 2023, at 8:00 a.m. ET to report third-quarter financial results for the period ending December 31, 2022. The event aims to provide a corporate update and will be accessible through their website. Moreover, Roivant will participate in key investor conferences: the SVB Securities Global Biopharma Conference on February 14 and the Cowen 43rd Annual Health Care Conference on March 7, featuring discussions that highlight the company's strategic directions.
Roivant Sciences (Nasdaq: ROIV) announced promising results from the TUSCANY-2 Phase 2b study of RVT-3101, an anti-TL1A antibody for ulcerative colitis. The study found that 32% of all patients achieved clinical remission, with higher rates among biomarker-positive patients (40%). Endoscopic improvement was noted in 40% of all patients and 56% of biomarker-positive patients. RVT-3101 demonstrated a favorable safety profile and is set to proceed to registrational studies. Roivant will share more data from the chronic therapy phase in 1H 2023.
Roivant Sciences Ltd. (Nasdaq: ROIV) reported financial results for Q2 2022, emphasizing a strong performance from VTAMA with $5.0 million in revenue from over 54,000 prescriptions. The company announced its first major PBM contract, improving access to VTAMA. Cash runway has been extended into H2 2025, supported by recent capital infusions totaling $150 million. Roivant also highlighted progress in its immunology pipeline, including the completion of enrollment for a registrational trial for brepocitinib in lupus. However, a net loss of $315.9 million was reported for the quarter.
Affivant, a biotechnology company, will present a poster on AFVT-2101 at the 37th Annual Meeting of SITC on November 11, 2022. AFVT-2101 is an Innate Cell Engager designed to target folate receptor alpha on tumors, facilitating immune cell activation for tumor destruction. The poster reports findings that AFVT-2101 effectively binds to CD16A, induces potent antibody-dependent cellular cytotoxicity (ADCC), and shows minimal off-target effects. The study confirms AFVT-2101's potential as a safe and powerful therapy in preclinical settings.
Roivant Sciences announced the pricing of a public offering of 30 million common shares at $5.00 each, generating gross proceeds of $150 million. Roivant will receive approximately $100 million from the offering, while selling shareholders will obtain about $50 million. The underwriter has a 30-day option for an additional $22.5 million in shares. The offering is set to close on November 10, 2022, subject to conditions. Roivant expects its cash flow to sustain operations into the second half of 2025.
