Roivant Sciences - ROIVW STOCK NEWS

Roivant Sciences (Nasdaq: ROIV) announced an investor call on March 15, 2023, to discuss topline results from its ADORING 2 study, a Phase 3 clinical trial for atopic dermatitis. This study is one of two replicate trials designed to evaluate the effectiveness of a potential treatment. The call will be accessible via a registration link provided in the announcement, with a webcast available later on the investor section of Roivant's website. The company is focused on enhancing healthcare delivery and developing transformative medicines through innovative approaches.

Proteovant Therapeutics, a company under Roivant Sciences (ROIV), has achieved significant milestones by nominating PVTX-321 and PVTX-405 as development candidates. These drugs target previously challenging proteins, with PVTX-321 showing impressive tumor growth inhibition in preclinical models and PVTX-405 demonstrating robust IKZF2 degradation. The company will present these findings at major upcoming conferences in Boston and London. This progress in the development pipeline reflects Proteovant's commitment to advancing therapeutic options for patients with life-altering diseases.

Covant Therapeutics, incubated by Roivant Sciences (ROIV), has established a Scientific Advisory Board (SAB) to enhance its therapeutic development pipeline. The SAB comprises renowned experts, including Dr. Alan D’Andrea from Harvard, Dr. Bernhard Küster from the Technical University of Munich, and Dr. Malcolm MacCoss from the University of Oxford. Their expertise spans DNA repair pathways, proteomics, and drug interaction analysis, positioning Covant to innovate in covalent therapeutics against challenging oncology targets. Dr. Ivan Cornella, Chief Scientific Officer, expressed enthusiasm for the board's contribution to Covant’s mission.

Roivant Sciences (Nasdaq: ROIV) announced the resignation of founder Vivek Ramaswamy from its board of directors to focus on his U.S. presidential campaign. Ramaswamy founded Roivant in 2014, leading to six FDA approvals for drugs developed by the company, including VTAMA in 2022. He transitioned out of his CEO role in January 2021 and served as Chairman until February 20, 2023. CEO Matt Gline expressed gratitude for Ramaswamy's contributions and emphasized the company's mission to transform drug development remains intact.

Roivant Sciences reported $9.2 million in net product revenue from VTAMA for Q3 2022, with nearly 100,000 prescriptions written by 8,600 prescribers since its launch. 57% of commercial lives are now covered for VTAMA. The company has fully enrolled two Phase 3 trials for tapinarof and established a partnership with Pfizer to develop RVT-3101, showing statistically significant efficacy in treating ulcerative colitis. Following strong investor demand, Roivant upsized its primary equity offering to $230 million, enhancing its cash runway into 2H 2025. As of December 31, 2022, cash and equivalents stood at $1.5 billion, which will be bolstered by upcoming asset sales.

Roivant Sciences (Nasdaq: ROIV) has announced the pricing of an upsized public offering of 26,666,666 common shares at $7.50 each, aiming for gross proceeds of approximately $200 million. The offering will close on February 7, 2023, subject to standard conditions. An additional 3,999,999 shares may be acquired by underwriters within 30 days. The shares are offered under a previously filed registration statement with the SEC, which was declared effective on October 3, 2022. This move is part of Roivant's strategy to enhance its capital position to support ongoing operations and development.

Roivant Sciences Ltd. (Nasdaq: ROIV) has announced a public offering of $150 million in common shares, with an additional $22.5 million option for underwriters. Goldman Sachs & Co. LLC, SVB Securities LLC, Cowen and Company, and Cantor Fitzgerald & Co. are the bookrunning managers for this offering. The shares are offered under a registration statement previously filed with the SEC, effective since October 3, 2022. Market conditions may affect the offering's completion time and terms. This announcement does not constitute an offer to sell or a solicitation to buy these securities.

Roivant Sciences (Nasdaq: ROIV) will host a live conference call and webcast on February 13, 2023, at 8:00 a.m. ET to report third-quarter financial results for the period ending December 31, 2022. The event aims to provide a corporate update and will be accessible through their website. Moreover, Roivant will participate in key investor conferences: the SVB Securities Global Biopharma Conference on February 14 and the Cowen 43rd Annual Health Care Conference on March 7, featuring discussions that highlight the company's strategic directions.

Roivant Sciences (Nasdaq: ROIV) announced promising results from the TUSCANY-2 Phase 2b study of RVT-3101, an anti-TL1A antibody for ulcerative colitis. The study found that 32% of all patients achieved clinical remission, with higher rates among biomarker-positive patients (40%). Endoscopic improvement was noted in 40% of all patients and 56% of biomarker-positive patients. RVT-3101 demonstrated a favorable safety profile and is set to proceed to registrational studies. Roivant will share more data from the chronic therapy phase in 1H 2023.