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Immunovant, Inc. - IMVT STOCK NEWS

Welcome to our dedicated page for Immunovant news (Ticker: IMVT), a resource for investors and traders seeking the latest updates and insights on Immunovant stock.

Immunovant, Inc. (Nasdaq: IMVT) is a clinical-stage biopharmaceutical firm focused on developing monoclonal antibodies for the treatment of autoimmune diseases. The company is dedicated to enabling normal lives for patients with these conditions. Their primary product candidate, IMVT-1401, is a fully human monoclonal antibody that selectively binds to and inhibits the neonatal fragment crystallizable receptor (FcRn). IMVT-1401 is currently in Phase IIa clinical trials for treating myasthenia gravis and thyroid eye disease, with additional trials for warm autoimmune hemolytic anemia underway.

Immunovant is also developing batoclimab and IMVT-1402, which target the same FcRn receptor to modulate the immune response. The company has recently announced promising initial Phase 1 data for IMVT-1402, showing significant IgG reduction with minimal changes in serum albumin and LDL cholesterol, pointing towards a potential best-in-class profile. With a robust pipeline and strategic partnerships, including being a subsidiary of Roivant Sciences Ltd., Immunovant is well-positioned in the biopharmaceutical sector.

Recent financial highlights underline the company's growth, with significant net proceeds from public offerings and private placements. For the fiscal quarter ended September 30, 2023, research and development expenses were $48.0 million, primarily due to the development of IMVT-1402.

In corporate updates, Immunovant recently completed a public offering and concurrent private placement, raising approximately $467 million. The company continues to expand its clinical trials and has announced plans to initiate several potentially registrational programs for IMVT-1402 by March 31, 2025. With ongoing advancements in their clinical programs and financial strength, Immunovant, Inc. stands at the forefront of innovative treatments for autoimmune diseases.

News

Immunovant Reports Positive Initial Phase 2 Results for Batoclimab in Graves’ Disease

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Immunovant, Inc. (Nasdaq: IMVT) announced that results from the initial cohort of patients in a 24-week Phase 2 clinical trial of batoclimab in patients with Graves’ disease exceeded 50% response rates. The trial is assessing the safety and efficacy of batoclimab in patients who are hyperthyroid despite treatment with an anti-thyroid medication for more than 12 weeks. Initial results show potential best-in-class IgG reduction of up to 87% with a mean IgG reduction of 81% after 12 weeks of treatment. Batoclimab was generally well tolerated with no new safety signals observed.
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Immunovant Announces Positive IMVT-1402 Initial 600 mg MAD Results that Confirm Best-in-Class Potential

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Immunovant, Inc. (IMVT) announced initial data from the 600 mg MAD cohort of a Phase 1 clinical trial of IMVT-1402 in healthy adults. The results show that four subcutaneously administered doses of 600 mg produced a mean IgG reduction similar to high dose batoclimab, but with minimal changes in albumin and LDL-C similar to those in placebo, confirming the potential of IMVT-1402 as a best-in-class neonatal FcRn inhibitor. The Phase 1 clinical trial is a randomized, double-blind, placebo-controlled ascending dose study to assess the safety, tolerability, pharmacokinetics, and pharmacodynamics of IMVT-1402 in healthy adults.
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Immunovant to Present at Upcoming Investor Conferences

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Immunovant, Inc. (IMVT) CEO, Dr. Pete Salzmann, to participate in investor conferences, including Stifel 2023 Healthcare Conference, Evercore ISI 6th Annual HealthCONx Conference, and Piper Sandler 35th Annual Healthcare Conference. The fireside chats will be webcast live and can be accessed on Immunovant's website.
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Immunovant Reports Financial Results and Provides Corporate Updates for the Quarter Ended September 30, 2023

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IMVT - Immunovant Reports Positive Initial Phase 1 Data for IMVT-1402, Raises $467M in Public Offering and Private Placement
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Immunovant Announces Closing of Upsized Common Stock Financing and Full Exercise of Underwriters’ Option to Purchase Additional Shares

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Immunovant, Inc. closes underwritten public offering of 8,475,500 shares of common stock at $38.00 per share, raising approximately $492.1 million
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Immunovant Announces Pricing of $450 Million Common Stock Financing

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Immunovant announces pricing of public offering and private placement, expecting gross proceeds of approximately $450 million. Public offering includes 7,370,000 shares at $38.00 per share, with an option for underwriters to purchase additional shares. Concurrent private placement with Roivant Sciences for 4,473,684 shares. Expected closing on or about October 2, 2023.
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Immunovant Announces Proposed Offering of $300 Million of Common Stock

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Immunovant announces proposed public offering and private placement of $300 million of common stock
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Immunovant Announces Positive Initial IMVT-1402 Phase 1 SAD and 300 mg Subcutaneous MAD Results

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IMVT-1402 subcutaneous doses achieved peak IgG reductions similar to batoclimab. No decrease in serum albumin or increase in LDL-C observed. Encouraging pharmacodynamic data. MAD cohort showed 63% mean total IgG reduction with no adverse effects. 600 mg cohort dosing started. Conference call scheduled for discussing initial data.
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Immunovant to Host Conference Call and Webcast to Report Initial IMVT-1402 Phase 1 Results on September 26, 2023

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Immunovant, Inc. will report initial IMVT-1402 Phase 1 results on September 26, 2023. Conference call and webcast to discuss the results will be held at 8:00 a.m. ET.
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Immunovant Reports Financial Results and Provides Corporate Updates for the Quarter Ended June 30, 2023

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Immunovant, Inc. reported corporate updates and financial results for its fiscal first quarter ended June 30, 2023. The Phase 1 clinical trial of IMVT-1402 is on schedule to deliver initial data in the coming months. The Phase 2 proof-of-concept data for batoclimab in Graves' disease is expected in Q4 2023. Global clinical trials of batoclimab are ongoing in myasthenia gravis, thyroid eye disease, and chronic inflammatory demyelinating polyneuropathy. Immunovant's cash and cash equivalents totaled $330.0 million as of June 30, 2023.
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FAQ

What is the current stock price of Immunovant (IMVT)?

The current stock price of Immunovant (IMVT) is $25.86 as of December 20, 2024.

What is the market cap of Immunovant (IMVT)?

The market cap of Immunovant (IMVT) is approximately 3.8B.

What does Immunovant, Inc. specialize in?

Immunovant, Inc. specializes in developing monoclonal antibodies for the treatment of autoimmune diseases, focusing on enabling normal lives for patients with these conditions.

What is IMVT-1401?

IMVT-1401 is a fully human monoclonal antibody that selectively inhibits the neonatal fragment crystallizable receptor (FcRn), currently in Phase IIa clinical trials for myasthenia gravis and thyroid eye disease.

Where is Immunovant, Inc. headquartered?

Immunovant, Inc. is headquartered in New York, New York.

Is Immunovant, Inc. a subsidiary of another company?

Yes, Immunovant, Inc. is a subsidiary of Roivant Sciences Ltd.

What are some of the recent achievements of Immunovant, Inc.?

Recent achievements include successful Phase 1 data for IMVT-1402, significant financial growth from public offerings, and promising clinical trial outcomes.

How is Immunovant, Inc. funded?

Immunovant, Inc. has raised significant capital through public offerings and private placements, including a recent $467 million net proceed from such activities.

What are the future plans for IMVT-1402?

Immunovant plans to initiate 4-5 potentially registrational programs for IMVT-1402 by March 31, 2025, and target a total of 10 indications by March 31, 2026.

What is the financial condition of Immunovant, Inc.?

As of the fiscal quarter ended September 30, 2023, Immunovant reported $48.0 million in research and development expenses and continues to show financial growth and strength.

What is batoclimab?

Batoclimab is another monoclonal antibody developed by Immunovant that targets the FcRn receptor and is being tested in various autoimmune indications.

Who are the key management figures at Immunovant, Inc.?

Key management figures include Pete Salzmann, M.D., Chief Executive Officer, and Chau Cheng, PhD, MBA, Vice President of Investor Relations.

Stock IMVT logo
Immunovant, Inc.

Nasdaq:IMVT

IMVT Rankings

#1473 Ranked by Market Cap
N/A Ranked by Dividends

IMVT Stock Data

3.78B
62.34M
55.69%
54.68%
8.87%
Biotechnology
Biological Products, (no Disgnostic Substances)
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United States of America
NEW YORK