Roivant Sciences(US:ROIV)2025-02-10 12:15Financial Performance - Roivant reported consolidated cash, cash equivalents, restricted cash, and marketable securities of approximately $5.2 billion as of December 31, 2024[6]. - Revenue for the three months ended December 31, 2024, was $9,018 million, a decrease of 42.5% compared to $15,562 million for the same period in 2023[25]. - The net income attributable to Roivant Sciences Ltd. for the three months ended December 31, 2024, was $169,381 million, a significant decrease from $5,096,184 million in the same quarter of 2023[25]. - The net income per common share for the three months ended December 31, 2024, was $0.23, compared to $6.37 in the same period of 2023[25]. - The company reported a non-GAAP loss from continuing operations, net of tax of $143.7 million for the three months ended December 31, 2024, compared to $138.0 million for the same period in 2023[21]. - The company reported a net loss from continuing operations of $208,945 million for the three months ended December 31, 2024, compared to a net income of $5,131,180 million in the same period last year[27]. Expenses - Research and development expenses increased by $33.4 million to $141.6 million for the three months ended December 31, 2024, compared to $108.1 million for the same period in 2023[16]. - General and administrative expenses rose by $13.4 million to $141.5 million for the three months ended December 31, 2024, compared to $128.2 million for the same period in 2023[18]. - Research and development expenses for the three months ended December 31, 2024, were $141,595 million, up 30.9% from $108,148 million in the prior year[27]. - General and administrative expenses for the three months ended December 31, 2024, increased to $141,545 million, compared to $128,172 million in the same quarter of 2023, reflecting an increase of 10.3%[28]. - Adjusted research and development expenses (Non-GAAP) for the three months ended December 31, 2024, were $131,182 million, compared to $100,212 million in the same quarter of 2023, representing a 31% increase[27]. Discontinued Operations - Income from discontinued operations, net of tax was $327.0 million for the three months ended December 31, 2024, reflecting the gain on the sale of Dermavant[20]. - The company recorded a gain on the sale of Telavant net assets of $5,348,410 million in the three months ended December 31, 2023, which significantly impacted the prior year's income[27]. Clinical Trials and Development - Immunovant plans to initiate clinical trials evaluating IMVT-1402 in a total of ten indications by March 31, 2026[8]. - Batoclimab topline results from pivotal trials in myasthenia gravis and chronic inflammatory demyelinating polyneuropathy are expected by March 31, 2025[6]. - Priovant's Phase 2 trial of brepocitinib in cutaneous sarcoidosis is expected to begin in the second quarter of calendar year 2025, with topline results anticipated in the second half of calendar year 2026[12]. Ownership and Corporate Actions - Roivant's basic ownership in Immunovant increased to approximately 57% following a $450 million private placement[3]. - The company plans to host a live conference call on February 10, 2025, to report its financial results for the third quarter ended December 31, 2024[33]. Risks and Uncertainties - The company acknowledges that actual results may differ materially from forward-looking statements due to various risks and uncertainties[38]. - Management's expectations and beliefs are based on current conditions and may change as new information becomes available[38]. - The company operates in a competitive and rapidly changing environment, which introduces new risks over time[38].