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.
Immunovant has appointed Mark Levine as Chief Legal Officer, bringing over 20 years of legal experience in biopharmaceuticals. His expertise includes overseeing mergers and guiding regulatory compliance. As the company accelerates the development of its drug batoclimab, Levine's addition is expected to enhance strategic capabilities. Notably, Immunovant plans to initiate three pivotal trials for batoclimab in 2022, focusing on myasthenia gravis, thyroid eye disease, and warm autoimmune hemolytic anemia, among others.
Immunovant, Inc. (Nasdaq: IMVT) announced that CEO Pete Salzmann will present a corporate overview at the 40th Annual J.P. Morgan Healthcare Conference on January 13, 2022, at 9:45 AM Eastern Time. The conference will showcase the company's focus on autoimmune diseases and the development of IMVT-1401 (batoclimab), a novel treatment aimed at managing conditions linked to pathogenic IgG antibodies. The presentation will be available via webcast on the company’s website.
Immunovant, Inc. (Nasdaq: IMVT) has aligned with the FDA to advance its Phase 3 trial for batoclimab, targeting myasthenia gravis (MG). Set to commence in the first half of 2022, the trial will investigate doses of 680mg and 340mg through subcutaneous injection, focusing on the MG-ADL primary efficacy measure. The trial aims to explore its broad therapeutic window and patient-friendly dosing. Results are expected in 2024, with further details to be discussed in an investor call on January 5, 2022.
On November 12, 2021, Immunovant (Nasdaq: IMVT) announced that CEO Pete Salzmann will present a corporate overview at the Stifel 2021 Virtual Healthcare Conference from November 15-17, 2021. The presentation is scheduled for November 17 at 2:00 PM ET and will be accessible via webcast on the company’s website. Immunovant is focused on developing IMVT-1401 (batoclimab), a monoclonal antibody aimed at treating autoimmune diseases mediated by IgG antibodies.
Immunovant (Nasdaq: IMVT) reported its fiscal first-quarter results for the period ending September 30, 2021. The company ended the quarter with approximately $559 million in cash. R&D expenses rose to $21.4 million, up from $12.0 million year-over-year, primarily due to higher contract manufacturing and personnel costs. G&A expenses also increased to $16.3 million, compared to $9.0 million last year. The net loss for the quarter was $37.7 million ($0.35 per share), compared to a loss of $20.8 million ($0.25 per share) in the same quarter of 2020.
Immunovant, Inc. (Nasdaq: IMVT), a biopharmaceutical company specializing in autoimmune diseases, announced participation by CEO Pete Salzmann, M.D. in a fireside chat at Roivant R&D Day 2021 on September 28, 2021, at 4:00 p.m. ET. The event will be accessible via a live webcast, with a replay available for 30 days afterwards on the company's investor page. Immunovant is advancing IMVT-1401, an innovative treatment targeting diseases caused by harmful IgG antibodies.
Immunovant appoints Renee Barnett as Chief Financial Officer effective October 4, 2021, enhancing its executive leadership team. Ms. Barnett brings over 20 years of financial expertise in healthcare, having worked at Eli Lilly and most recently at AbleTo, Inc. Her appointment comes as Immunovant prepares to initiate pivotal trials for batoclimab (IMVT-1401) in multiple indications, including myasthenia gravis, and reinitiate programs for thyroid eye disease and warm autoimmune hemolytic anemia.
Immunovant (Nasdaq: IMVT) reported financial results for its fiscal first quarter ending June 30, 2021, highlighting approximately $379 million in cash and a $200 million strategic investment from Roivant. The FDA granted Orphan Drug Designation for IMVT-1401 to treat Myasthenia Gravis. R&D expenses increased to $18.7 million, while G&A expenses rose to $11.2 million. The net loss for the quarter was $30.5 million or $0.31 per share, compared to a net loss of $26.7 million or $0.38 per share in the previous year.
Immunovant, Inc. (Nasdaq: IMVT) will host a conference call and audio webcast on August 9, 2021, at 8 a.m. ET, to discuss its financial results for the first fiscal quarter ended June 30, 2021. Following prepared remarks, there will be a live Q&A session for investors. Immunovant is focused on developing IMVT-1401, a fully human anti-FcRn monoclonal antibody aimed at treating autoimmune diseases associated with pathogenic IgG antibodies.
On August 2, 2021, Immunovant announced a strategic investment of $200 million from Roivant Sciences. This investment will support the development of IMVT-1401 across multiple indications, enhancing Immunovant's financial position with a post-investment cash balance of approximately $600 million. Roivant acquired 17,021,276 shares at $11.75 each, increasing its ownership from 57.5% to 63.8%. Immunovant plans to initiate pivotal trials for myasthenia gravis and resume trials in WAIHA and TED over the next 12 months.
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