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Dec 31, 2022
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.
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