Immunovant Q2 net loss narrows on lower R&D costs
IMVT•IMVT•IMVT•IMVT•Immunovant’s fiscal second-quarter net loss narrowed to $97.25 million, beating the $152.92 million analyst consensus, as research and development costs fell. The company also said its IMVT-1402 trial met its primary endpoint in difficult-to-treat rheumatoid arthritis.
Immunovant reported a fiscal second-quarter net loss of $97.25 million, or $0.47 per basic share, compared with analyst expectations for a $152.92 million loss. Operating expenses were $104.16 million. Lower research and development expenses reflected the wind-down of batoclimab trials and the timing of contract manufacturing for IMVT-1402; general and administrative expenses increased with higher pre-commercial investments.
The company said it met the primary endpoint in an IMVT-1402 trial for difficult-to-treat rheumatoid arthritis. Immunovant expects topline data from IMVT-1402 trials in Graves’ disease and myasthenia gravis in 2027, and in chronic inflammatory demyelinating polyneuropathy in 2028. It does not expect to advance the drug in Sjögren’s disease beyond the ongoing Phase 2 trial.
