Roivant Sciences SEC Filings

Roivant Sciences Ltd. reported a large loss as it continues to invest heavily in drug development. For the nine months ended December 31, 2025, revenue was $5.7M while operating expenses reached $936.0M, driven by research and development of $482.9M and general and administrative costs of $452.2M, both significantly influenced by share-based compensation.

This resulted in a net loss from continuing operations of $753.7M and a net loss attributable to Roivant of $602.8M, or $0.88 per share. Despite these losses, Roivant held substantial liquidity with $4.53B in cash, cash equivalents and marketable securities as of December 31, 2025, after using $586.5M of cash in operating activities over the period.

The company continues to reshape its portfolio following the prior Telavant and Dermavant divestitures, which generated significant one-time gains in the prior year but no discontinued operations income in the current period. Roivant also increased its stake in Immunovant to about 56% via participation in a $543.6M Immunovant equity offering, and it has an authorized $500M share repurchase program with no repurchases yet under this new authorization.

Roivant Sciences reported a larger quarterly loss while highlighting major pipeline progress. For the quarter ended December 31, 2025, loss from continuing operations was $313.7 million, compared with $208.9 million a year earlier, on modest revenue of $2.0 million. Research and development expenses rose to $165.4 million and general and administrative expenses to $175.1 million, both driven largely by higher share-based compensation and program spending. Non-GAAP loss from continuing operations was $167.0 million. Roivant held $4.5 billion in cash, cash equivalents, restricted cash and marketable securities as of December 31, 2025, which the company says supports a cash runway into profitability. Clinically, Roivant announced strongly positive Phase 2 data for brepocitinib in cutaneous sarcoidosis, including a 22.3‑point mean CSAMI-A improvement at Week 16 versus 0.7 on placebo, and filed an NDA for brepocitinib in dermatomyositis. Multiple late-stage trials for brepocitinib, IMVT‑1402 and mosliciguat are fully enrolled with topline readouts expected in 2026, and Immunovant raised about $550 million in gross proceeds. Roivant also reported progress in Genevant’s LNP litigation against Moderna, with a favorable summary judgment decision and a U.S. jury trial scheduled for March 2026.

Roivant Sciences Ltd received an amended Schedule 13G/A showing that FMR LLC and Abigail P. Johnson report beneficial ownership of Roivant common stock. As of the event date of 12/31/2025, they beneficially owned about 65,779,463.77 shares, representing 9.5% of the common stock.

FMR LLC, organized in Delaware, reports sole voting power over 65,714,345 shares and sole dispositive power over 65,779,463.77 shares. Abigail P. Johnson has sole dispositive power over the same 65,779,463.77 shares but no voting power. The filing states the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Roivant. One or more other persons may receive dividends or sale proceeds, but no such person holds more than five percent of the class.

Roivant Sciences Ltd. director James C. Momtazee reported routine equity compensation activity. On January 20, 2026, he received an award of 609 Common Shares under the company’s Non-Employee Director Compensation Plan, which were fully vested on the grant date and recorded at $0 per share as a stock grant. On the same date, 122 Common Shares were withheld and forfeited at $22.98 per share through a net settlement to cover tax withholding obligations tied to the vesting of previously granted shares. After these transactions, he directly owned 109,030 Common Shares.

Roivant Sciences director Oren Ilan reported stock-based compensation and related tax withholding transactions. On 01/20/2026, he received 1,164 Common Shares at $0 under Roivant Sciences Ltd.'s Non-Employee Director Compensation Plan, and this award was fully vested on the grant date. On the same day, 124 Common Shares were withheld and settled at $22.98 per share to cover applicable tax obligations tied to the vesting and settlement of previously granted shares. After these transactions, he directly owned 119,428 Common Shares.

Roivant Sciences Ltd. director Melissa Epperly reported routine equity compensation activity. On January 20, 2026, she received an award of 815 Common Shares under Roivant’s Non-Employee Director Compensation Plan, which the footnotes state was fully vested on the grant date and issued at $0 per share as part of her director compensation.

On the same day, 54 Common Shares were withheld in a transaction coded “F” at $22.98 per share to cover tax withholding obligations tied to the vesting and settlement of previously granted shares. After these transactions, Epperly directly beneficially owned 57,665 Common Shares of Roivant Sciences.

Roivant Sciences Ltd. executive Eric Venker, President & Immunovant CEO, reported an option exercise and share sale. On January 12, 2026, he exercised stock options covering 200,000 Common Shares at an exercise price of $3.85 per share. That same day, he sold 200,000 Common Shares at a weighted average price of $21.92 per share, with individual sale prices ranging from $21.59 to $22.20.

After these transactions, Venker directly held 1,654,597 Common Shares and 5,244,834 stock options representing rights to buy additional Common Shares. The option award originally began vesting on April 20, 2022, with 25% vesting after one year and the remainder vesting in 36 equal monthly installments, subject to his continued service.

Roivant Sciences Ltd. insider plans to sell 200,000 common shares under Rule 144. The shares are to be sold through Rockefeller Financial LLC on NASDAQ around 01/12/2026, with an aggregate market value of 4,383,694.07 and 695,491,615 common shares outstanding. The 200,000 shares were acquired on 01/12/2026 by exercising options originally granted on 04/20/2022, with payment made by wire.

Over the prior three months, the same seller, Eric Venker (c/o Roivant Sciences Ltd., London), completed multiple open-market sales of Roivant common shares. Individual transactions included 414,683 shares sold on 10/15/2025 for 7,021,429.14 and 318,282 shares sold on 10/16/2025 for 5,425,645.04, along with several other sales ranging from 7,051 to 200,000 shares. By signing the notice, the seller represents they do not know any undisclosed material adverse information about Roivant’s operations.

Roivant Sciences Ltd. director Dan Gold reported multiple sales of the company’s Common Shares made indirectly through QVT Financial Investment Cayman Ltd. On 12/16/2025, QVT FIC sold 275,000 Common Shares at a price of $22.93 per share and 642,282 Common Shares at $23.08 per share. On 12/17/2025, QVT FIC sold additional blocks of 432,718, 155,076, and 189,538 Common Shares at prices of $23.05, $23.02, and $23.17 per share, respectively.

Following these transactions, QVT FIC is reported to beneficially own 16,353,113 Roivant Common Shares, which are reported as indirectly owned by Gold through his role as one of three directors of QVT FIC. Gold disclaims beneficial ownership of these securities beyond his pecuniary interest.