Immunovant Q3 2025 Earnings Report
Key Takeaways
Immunovant reported a net loss of $111.1 million, or $0.76 per common share, for the quarter ended December 31, 2024. As of December 31, 2024, cash and cash equivalents totaled $374.7 million.
IMVT-1402 development plans are progressing with six INDs cleared.
Pivotal studies in Graves’ disease (GD) and difficult-to-treat rheumatoid arthritis (D2T RA) are now enrolling with 2.25ml autoinjector.
Top line results of the batoclimab trial in myasthenia gravis (MG) and initial results from period 1 of batoclimab trial in chronic inflammatory demyelinating polyneuropathy (CIDP) expected by March 31, 2025.
Pro forma cash balance of approximately $825 million as of December 31, 2024, including approximately $450 million gross proceeds from a private placement that closed on January 15, 2025.
Immunovant
Immunovant
Forward Guidance
Immunovant anticipates initiating clinical trials evaluating IMVT-1402 in a total of ten indications by March 31, 2026. Top-line results from the pivotal program of batoclimab for the treatment of thyroid eye disease (TED), also known as Graves' ophthalmopathy, continue to be expected in the second half of calendar year 2025, along with a decision whether to pursue marketing authorization for batoclimab in TED.
Positive Outlook
- IMVT-1402 rapidly progressing with six Investigational New Drug (IND) applications cleared.
- Pivotal studies in Graves’ disease (GD) and difficult-to-treat rheumatoid arthritis (D2T RA) now enrolling with 2.25ml autoinjector.
- Additional results from batoclimab proof-of-concept study in GD, including 6-month treatment free remission data expected in summer 2025.
- Top line results of the batoclimab trial in myasthenia gravis (MG) and initial results from period 1 of batoclimab trial in chronic inflammatory demyelinating polyneuropathy (CIDP) expected by March 31, 2025.
- Initiating clinical trials evaluating IMVT-1402 in a total of ten indications by March 31, 2026.
Challenges Ahead
- Immunovant may not be able to protect or enforce its intellectual property rights.
- Initial results or other preliminary analyses or results of early clinical trials may not be predictive of final trial results or of the results of later clinical trials.
- Any product candidate that Immunovant develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all.
- Immunovant's product candidates may not be beneficial to patients, or even if approved by regulatory authorities, successfully commercialized.
- Immunovant will require additional capital to fund its operations and advance IMVT-1402 and batoclimab through clinical development.