Immunovant Reports Financial Results for the Quarter Ended December 31, 2024

Core Viewpoint - Immunovant, Inc. reported financial results for its fiscal third quarter ended December 31, 2024, highlighting significant progress in its lead asset IMVT-1402 and upcoming clinical milestones [1][12]. Financial Highlights - As of December 31, 2024, Immunovant's cash and cash equivalents totaled $374.7 million [12]. - Research and development expenses for the third quarter were$94.5 million, up from $48.3 million in the same period of 2023, primarily due to preparations for future clinical trials [13]. - General and administrative expenses increased to$19.8 million from $13.2 million year-over-year, driven by higher personnel-related expenses and professional fees [14]. - The net loss for the third quarter was$111.1 million ($0.76 per share), compared to a net loss of$51.4 million ($0.36 per share) in the prior year [15]. Development Progress - The company has six Investigational New Drug (IND) applications cleared for IMVT-1402, with pivotal studies in Graves' disease (GD) and difficult-to-treat rheumatoid arthritis (D2T RA) currently enrolling [10]. - Top-line results from the pivotal trial of batoclimab in myasthenia gravis (MG) are expected by March 31, 2025, which will inform the next steps for IMVT-1402 in MG [7]. - Additional data from the batoclimab proof-of-concept study in GD, including 6-month treatment-free remission data, is anticipated in summer 2025 [5]. Upcoming Milestones - Immunovant plans to initiate clinical trials for IMVT-1402 in a total of ten indications by March 31, 2026 [3]. - Top-line results from the pivotal program of batoclimab for thyroid eye disease (TED) are expected in the second half of 2025, which may also inform the IMVT-1402 program in GD [6]. Stock Information - As of December 31, 2024, there were 147,203,565 shares of common stock issued and outstanding [15].