Immunovant(US:IMVT)2025-11-10 12:15Financial Position - As of September 30, 2025, Immunovant's cash and cash equivalents totaled approximately $521.9 million, providing runway for announced indications through GD readout expected in 2027[5] Research and Development Expenses - Research and development (R&D) expenses for the second quarter were $114.2 million, an increase of 17.5% from $97.3 million in the same period of 2024[6] - For the six months ended September 30, 2025, R&D expenses totaled $215.4 million, up from $172.7 million in the same period of 2024, marking a 24.6% increase[11] - Research and Development Expenses for the three months ended September 30, 2025, totaled $114,249, up from $97,272 in 2024, reflecting an increase of approximately 17.5%[24] - Adjusted research and development expenses (Non-GAAP) for the three months ended September 30, 2025, were $106,543, compared to $90,516 in 2024, marking an increase of around 17.7%[24] - Research and Development Expenses for the six months ended September 30, 2025, totaled $215,449, up from $172,745 in 2024, reflecting an increase of approximately 24.7%[25] - Stock-based compensation for research and development in the six months ended September 30, 2025, was $15,571, compared to $13,941 in 2024, an increase of approximately 11.7%[25] General and Administrative Expenses - General and administrative (G&A) expenses decreased to $17.5 million for the second quarter, down from $18.5 million in the same period of 2024, reflecting effective cost management strategies[8] - Non-GAAP G&A expenses for the second quarter were $11.9 million, compared to $12.5 million for the same period in 2024[9] - General and Administrative Expenses for the three months ended September 30, 2025, were $17,513, slightly down from $18,471 in 2024, a decrease of about 5.2%[24] - General and Administrative Expenses for the six months ended September 30, 2025, were $43,537, compared to $37,279 in 2024, marking an increase of around 16.8%[25] Net Loss - The net loss for the second quarter was $126.5 million ($0.73 per common share), compared to a net loss of $109.1 million ($0.74 per common share) for the same period in 2024[10] - Non-GAAP net loss for the second quarter was $113.3 million, compared to $96.5 million for the same period in 2024[10] - The net loss for the three months ended September 30, 2025, was $126,502, compared to a net loss of $109,119 for the same period in 2024, representing an increase of approximately 15%[24] - Adjusted net loss (Non-GAAP) for the three months ended September 30, 2025, was $113,308, compared to $96,511 in 2024, indicating a rise of about 17%[24] - The net loss for the six months ended September 30, 2025, was $247,115, compared to a net loss of $196,269 for the same period in 2024, representing an increase of approximately 26%[25] - Adjusted net loss (Non-GAAP) for the six months ended September 30, 2025, was $215,369, compared to $170,319 in 2024, indicating a rise of about 26.4%[25] Future Expectations - The company expects to report topline results from the proof-of-concept trial of IMVT-1402 in cutaneous lupus erythematosus (CLE) in calendar year 2026[4] - Immunovant remains on track for the first of the two batoclimab Phase 3 thyroid eye disease (TED) studies to read out before the end of calendar year 2025[7] Total Operating Expenses - The total operating expenses for the second quarter were $131.8 million, compared to $115.7 million in the same period of 2024, reflecting a 13.9% increase[20]