Immunovant Q3 2023 Earnings Report

Immunovant's clinical development progressed, with Phase 3 trials initiated and a cash balance of $432.6 million reported.

Key Takeaways

Immunovant reported a net loss of $63.2 million for the quarter ended December 31, 2022. The company's cash and cash equivalents totaled $432.6 million as of December 31, 2022, expected to fund operations into the second half of calendar year 2025. Clinical development progressed with the initiation of Phase 3 and Phase 2b trials for batoclimab.

A Phase 1 clinical trial of IMVT-1402 is on track to be initiated in early calendar year 2023.

Phase 3 clinical trial of batoclimab in thyroid eye disease (TED) and a Phase 2b clinical trial in chronic inflammatory demyelinating polyneuropathy (CIDP) were initiated, as expected.

Phase 3 clinical trial of batoclimab in myasthenia gravis (MG) is ongoing.

Cash balance of approximately $433 million as of December 31, 2022.

EPS

-$0.49

Previous year: -$0.36