Immunovant Provides Corporate Updates and Reports Financial Results for the Fourth Quarter and Fiscal Year Ended March 31, 2024

Core Insights - Immunovant, Inc. is focused on developing IMVT-1402 as a leading therapeutic asset in the immunology market, particularly for autoantibody-driven diseases [2][3] - The company plans to initiate multiple late-stage clinical programs for IMVT-1402 across various therapeutic areas, including endocrinology and neurology, with a goal of starting 4 to 5 registrational studies by March 31, 2025 [3][7] Clinical Development Updates - Immunovant is prioritizing IMVT-1402 for first-in-class indications such as Graves' disease and Myasthenia Gravis (MG), with plans to initiate studies in a total of 10 indications by March 31, 2026 [3][9] - The company has received a U.S. patent for IMVT-1402, which will extend until June 2043, covering its composition and methods of use [4] - The ongoing batoclimab trials are expected to inform the design of future registrational studies for IMVT-1402 in MG and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) [5][6][8] Financial Highlights - As of March 31, 2024, Immunovant reported cash and cash equivalents of approximately $635 million [11] - Research and development expenses for the fourth quarter were $66.1 million, up from $51.8 million in the same period the previous year, primarily due to increased costs associated with IMVT-1402 [12] - The net loss for the fourth quarter was $75.3 million, compared to a net loss of $59.4 million in the prior year [14] - For the fiscal year ended March 31, 2024, total research and development expenses were $212.9 million, an increase from $160.3 million in the previous fiscal year [15]