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Sep 30, 2023
Immunovant Q2 2024 Earnings Report
Reported corporate updates and financial results for the second quarter ended September 30, 2023.
Key Takeaways
Immunovant reported positive initial Phase 1 data for IMVT-1402 and raised $467 million in net proceeds from a public offering and private placement. The company is progressing with global clinical trials of batoclimab in myasthenia gravis (MG), thyroid eye disease (TED), and chronic inflammatory demyelinating polyneuropathy (CIDP).
Positive initial Phase 1 data for IMVT-1402 announced.
Net proceeds of $467 million raised in underwritten public offering and concurrent private placement.
Global clinical trials of batoclimab in myasthenia gravis (MG), thyroid eye disease (TED), and chronic inflammatory demyelinating polyneuropathy (CIDP) are progressing.
Initial Phase 2 proof-of-concept data for batoclimab in Graves’ disease expected by end of 2023.
Forward Guidance
Immunovant is expecting initial 600 mg multiple-ascending dose (MAD) cohort data for IMVT-1402 in November 2023 and initial Phase 2 proof-of-concept data for batoclimab in Graves’ disease by the end of 2023.
Positive Outlook
- Top-line data from the Phase 3 clinical trial in MG are expected in the second half of calendar year 2024.
- For the Phase 3 program in TED, top-line data are expected in the first half of calendar year 2025.
- Expects to have initial results from period 1 of the Phase 2b clinical trial in CIDP in the first half of calendar year 2024.
- Initial Phase 2 proof-of-concept data in Graves’ disease by the end of calendar year 2023.
- Initial 600 mg multiple-ascending dose (MAD) cohort data for IMVT-1402 expected in November 2023
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