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Mar 31, 2024
Immunovant Q4 2024 Earnings Report
Immunovant reported its Q4 2024 financial results and provided corporate updates.
Key Takeaways
Immunovant reported a net loss of $75.3 million for the quarter ended March 31, 2024, compared to a net loss of $59.4 million for the same period in 2023. Research and development expenses increased to $66.1 million, driven by IMVT-1402 development costs.
Immunovant is on track to initiate 4 to 5 potentially registrational studies for IMVT-1402 in endocrinology, neurology, and other therapeutic areas over this fiscal year ending March 31, 2025.
Topline data from the batoclimab Myasthenia Gravis (MG) study is expected over this fiscal year, and further potentially registrational development in MG with IMVT-1402 is expected to begin in the same timeframe.
The batoclimab trial in Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) will run longer to optimize the IMVT-1402 CIDP trial design.
Detailed results from the batoclimab study in Graves’ disease and an overview of our development program for IMVT-1402 in Graves’ disease are expected to be announced in the fall of 2024.
Immunovant
Immunovant
Forward Guidance
Immunovant anticipates several key milestones in the coming year, including initiating multiple registrational programs for IMVT-1402 and reporting topline data from the batoclimab MG study.
Positive Outlook
- Initiate 4 to 5 potentially registrational studies for IMVT-1402 in endocrinology, neurology, and other therapeutic areas over this fiscal year ending March 31, 2025
- Topline data from the batoclimab Myasthenia Gravis (MG) study is expected over this fiscal year
- Potentially registrational development in MG with IMVT-1402 is expected to begin in the same timeframe as batoclimab MG topline data
- Detailed results from the batoclimab study in Graves’ disease as well as an overview of our development program for IMVT-1402 in Graves’ disease are expected to be announced in the fall of 2024
- A decision regarding which asset to advance to registration in TED is expected in the first half of calendar year 2025 together with disclosing topline data from the current batoclimab TED program.
Challenges Ahead
- Running the batoclimab trial in Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) longer prior to unblinding period 1
- Trial extensions may delay timelines
- Clinical trials are subject to inherent risks and uncertainties
- Potential delays in regulatory submissions and approvals
- Future clinical trials may not confirm any safety, potency, or other product characteristics