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Jun 30, 2023
Roivant Sciences Q1 2024 Earnings Report
Roivant reported its Q1 2024 financial results, highlighting clinical advancements and commercial growth.
Key Takeaways
Roivant reported positive data from the chronic period of the Phase 2b study of RVT-3101 in ulcerative colitis and from the ADORING 1 trial evaluating VTAMA in patients with atopic dermatitis. The company initiated the TAHOE Phase 2 study of RVT-3101 in Crohn’s disease and the Phase 1 study of IMVT-1402 in healthy volunteers. VTAMA net product revenue was $16.7M for the quarter. Roivant's consolidated cash, cash equivalents and restricted cash was $1.4B at June 30, 2023.
RVT-3101 showed improved efficacy in the TUSCANY-2 Phase 2b study for ulcerative colitis.
The first patient was dosed in the TAHOE study, a Phase 2 trial of RVT-3101 in Crohn’s disease.
VTAMA net product revenue reached $16.7M for the quarter ended June 30, 2023.
Roivant's cash, cash equivalents and restricted cash totaled $1.4B as of June 30, 2023.
Roivant Sciences
Roivant Sciences
Forward Guidance
Roivant anticipates several key milestones in the coming quarters, including regulatory submissions and clinical trial results.
Positive Outlook
- Dermavant plans to submit its sNDA for VTAMA in atopic dermatitis to the FDA in Q1 2024.
- Immunovant expects IMVT-1402 Phase 1 initial data in September, October or November 2023.
- Telavant expects data from the induction portion of the Phase 2 study of RVT-3101 in Crohn’s disease in Q4 2024.
- Priovant plans to announce topline results from the trial evaluating brepocitinib for SLE in Q4 2023.
- Hemavant plans to announce data from the trial evaluating RVT-2001 for transfusion-dependent anemia in MDS patients in H2 2023.
Challenges Ahead
- The document does not explicitly state any negative forward guidance.
- The document does not explicitly state any negative forward guidance.
- The document does not explicitly state any negative forward guidance.
- The document does not explicitly state any negative forward guidance.
- The document does not explicitly state any negative forward guidance.