Immunovant Q4 2023 Earnings Report

Reported corporate updates and financial results for the fiscal fourth quarter and fiscal year ended March 31, 2023.

Key Takeaways

Immunovant reported a net loss of $59.4 million for the quarter ended March 31, 2023, with cash and cash equivalents totaling $376.5 million, expected to fund operations into the second half of calendar year 2025. Significant progress was made with IMVT-1402, including FDA clearance and initiation of a Phase 1 clinical trial.

IND application and CTA for IMVT-1402 cleared by the FDA and MEDSAFE, respectively.

Phase 1 clinical trial in healthy subjects initiated in New Zealand.

Phase 2 proof-of-concept clinical trial of batoclimab in Graves’ disease (GD) initiated in Germany.

Global clinical trials of batoclimab are ongoing in myasthenia gravis (MG), thyroid eye disease (TED), and chronic inflammatory demyelinating polyneuropathy (CIDP).

EPS

-$0.46

Previous year: -$0.41

Previous year: -$33.1M

+68.8%