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Dec 31, 2022
Roivant Sciences Q3 2023 Earnings Report
Roivant Sciences reported financial results for Q3 2023 and provided a business update.
Key Takeaways
Roivant Sciences reported $9.2M in net product revenue from VTAMA, expanded VTAMA payor coverage to 57% of commercial lives, and established a partnership with Pfizer to develop RVT-3101. A $230M equity financing was completed to advance TL1A programs.
VTAMA net product revenue was $9.2M for the quarter ended December 31, 2022.
Nearly 100,000 VTAMA prescriptions written by approximately 8,600 unique prescribers since launch.
VTAMA payor coverage significantly expanded, with 57% of commercial lives now covered.
Partnership established with Pfizer to develop RVT-3101, a potentially first-in-class TL1A blocking antibody.
Forward Guidance
Roivant plans to announce data from the chronic therapy period of the ongoing TUSCANY-2 study of RVT-3101 for ulcerative colitis in the first half of calendar year 2023.
Positive Outlook
- Roivant plans to announce data from the chronic therapy period of the ongoing TUSCANY-2 study of RVT-3101 for ulcerative colitis in the first half of calendar year 2023.
- Dermavant expects to report topline data from the first Phase 3 trial of VTAMA for the treatment of atopic dermatitis in March 2023, with topline data from the second Phase 3 trial expected in May 2023.
- Immunovant plans to initiate a Phase 1 clinical trial for IMVT-1402 in early calendar year 2023 contingent on clearance of its Investigational New Drug (“IND”) application, with initial data results from this Phase 1 trial expected to be available in mid-calendar year 2023.
- Immunovant expects to have top-line results from the ongoing MG trial in the second half of calendar year 2024 and from the TED program, consisting of two Phase 3 clinical trials, in the first half of calendar year 2025.
- Immunovant also expects initial data from period 1 of the Phase 2B trial in CIDP to be available in the first half of calendar year 2024.
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