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Sep 30, 2022
Immunovant Q2 2023 Earnings Report
Reported financial results and recent business updates.
Key Takeaways
Immunovant reported its financial results for the second quarter ended September 30, 2022. The company unveiled IMVT-1402, a next-generation FcRn inhibitor, and announced new development programs for batoclimab in CIDP and Graves’ disease. Pro forma cash balance is expected to extend cash runway into the second half of calendar year 2025.
IMVT-1402, a next generation, subcutaneously administered, neonatal fragment crystallizable receptor (FcRn) inhibitor was unveiled.
New development programs for batoclimab in chronic inflammatory demyelinating polyneuropathy (CIDP) and Graves’ disease were announced.
Phase 3 trials of batoclimab in myasthenia gravis (MG) and thyroid eye disease (TED) are progressing.
Pro forma cash balance of $476 million is expected to extend cash runway into second half of calendar year 2025.
Forward Guidance
Immunovant provided forward-looking statements regarding the timing, design, and results of clinical trials of its product candidates, indication selections, plans to develop batoclimab and IMVT-1402 across a broad range of autoimmune indications, the timing of discussions with the FDA, beliefs regarding its cash runway, and the potential benefits of batoclimab’s and IMVT-1402’s unique product attributes.
Positive Outlook
- Expectations regarding the timing, design and results of clinical trials of its product candidates and indication selections
- Plan to develop batoclimab and IMVT-1402 across a broad range of autoimmune indications
- The timing of discussions with FDA
- Beliefs regarding its cash runway
- The potential benefits of batoclimab’s and IMVT-1402’s unique product attributes
Challenges Ahead
- 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
- Results of animal studies may not be predictive of results in humans
Historical Earnings Impact
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