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Mar 31, 2025
Immunovant Q4 2025 Earnings Report
Reported financial results for the fourth quarter and fiscal year ended March 31, 2025
Key Takeaways
Immunovant reported a net loss of $106.4 million for the fourth quarter of fiscal year 2025, an increase from the $75.3 million net loss in the same period last year. This was primarily driven by increased research and development and general and administrative expenses.
Immunovant reported a net loss of $106.4 million for Q4 2025, compared to $75.3 million for Q4 2024.
Research and development expenses increased to $93.7 million in Q4 2025 from $66.1 million in Q4 2024.
General and administrative expenses rose to $20.2 million in Q4 2025 from $14.8 million in Q4 2024.
As of March 31, 2025, cash and cash equivalents were approximately $714 million.
Forward Guidance
Immunovant is focused on advancing its clinical programs, including initiating potentially registrational trials for IMVT-1402 in Sjögren’s disease and a second trial in Graves’ disease in summer 2025. The company expects data readouts from other trials in the second half of 2025 and 2027.
Positive Outlook
- Initiating potentially registrational trials for IMVT-1402 in Sjögren’s disease and a second trial in Graves’ disease in summer 2025.
- Positive data reported from batoclimab trials in myasthenia gravis (MG) and chronic inflammatory demyelinating polyneuropathy (CIDP).
- Potentially registrational trials for IMVT-1402 in MG and CIDP are actively enrolling.
- Initiated a potentially registrational trial of IMVT-1402 in difficult-to-treat rheumatoid arthritis (D2T RA) and a proof-of-concept study in cutaneous lupus erythematosus (CLE) in March 2025.
- Current cash balance provides runway for announced indications through GD readout expected in 2027.
Challenges Ahead
- No specific negative forward guidance points were provided in the report.
- Clinical trial results may not be predictive of final outcomes.
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