📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Immunovant, Inc., a clinical-stage immunology company, develops targeted therapies to meet the needs of people with autoimmune diseases.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding IMVT

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	192.5K	$4.8M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q4 2022

Confident Specific

The CEO uses phrases like 'very excited', 'big milestone', and 'first-in-class' while providing detailed timelines (H2 2022 initiation, H1 2025 readout), specific trial designs (680 mg loading, 340 mg maintenance), and market research percentages (80% lifestyle modifications, 8,000-18,000 addressable patients).

Q2 2026

Confident Specific

The CEO takes a 'victory lap' and describes 'phenomenal data sets' and 'textbook picture of positive clinical data,' yet defers detailed competitive and launch timing discussions to a future Investor Day, indicating caution around evolving competition.

Q3 2026

Confident Specific

Management used highly positive language such as 'tremendous outcome', '100% response rate', 'statistically significant', and 'far in excess' of clinical benchmarks. They repeatedly cited specific effect sizes (e.g., 21.6-point placebo-adjusted CSAMI improvement) and emphasized consistent results across multiple endpoints.

Q4 2026 latest

Confident Specific

Management used direct and enthusiastic language ('surprisingly good', 'pretty exciting', 'clinically meaningful') to describe the IMVT-1402 RA data, and provided clear forward-looking statements on timelines and expectations across the pipeline.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call due to unexpectedly robust open-label ACR response data for IMVT-1402 in a difficult-to-treat RA population, which supports the FcRn mechanism and differentiates it from competitors. The mosliciguat phase II program also presents a high-upside catalyst for H2 2026. However, the batoclimab failure in TED and the still-unblinded Period 2 data for 1402 add uncertainty. Next quarter, watch for CLE top-line data, any early feedback from FDA on the 1402 RA program, and progress on brepocitinib commercial launch preparations.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Roivant reports strong RA data for IMVT-1402, prep for brepocitinib launch by Q3 2026.

Revenue & Profitability

Cash and cash equivalents totaled $4.3 billion as of March 31, 2026, with no outstanding debt. Roivant announced a $2.25 billion settlement with Moderna, with $950 million upfront expected in July 2026. The company continues to repurchase shares. R&D spend has grown due to expanded pipeline activities. No revenue, net income, or operating income figures were provided.

Outlook

Management highlighted significant unmet medical needs in difficult-to-treat RA, dermatomyositis, and PH-ILD. In PH-ILD, they noted only two approved therapies (both treprostinil) and a sparse development pipeline following the failure of seralutinib. The company expects the PH-ILD market to evolve similarly to PAH, where combination therapy and multiple mechanisms are standard. Demand is driven by large patient populations (e.g., 85,000+ D2T RA patients, up to 200,000 PH-ILD patients in US/EU).

Growth Drivers

Key growth drivers include the potential launch of brepocitinib in dermatomyositis by September 2026, the advancement of IMVT-1402 in RA (with 73% ACR20 in open-label period), and the upcoming phase II top-line data for mosliciguat in PH-ILD (expected H2 2026). Additional catalysts include brepocitinib data in NIU and cutaneous sarcoidosis, IMVT-1402 data in Graves' disease and myasthenia gravis (2027), and expansion into new indications such as LPP.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Not discussed in this earnings call.

Key Risks

Key risks include the open-label nature of the RA data, which may overstate efficacy; the randomized withdrawal period (Period 2) may fail to show a statistically significant difference due to deep initial responses and short duration. Safety across the pipeline (e.g., need to monitor for systemic side effects with mosliciguat) and regulatory uncertainties for novel mechanisms. Competition in CLE and other indications may raise the bar for market entry. The company also faces typical clinical development and commercial execution risks.

Generated by AI · Q4 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q1 2027 Q1 2027 2026-08-06

Pipeline progress continues with brepocitinib launch in DM imminent, strong cash position, and multiple pivotal data readouts expected in the second half. Share repurchases accelerated post-settlement, and litigation and regulatory milestones could further impact financials.

Q4 2026 Q4 2026 2026-05-20

Strong clinical and commercial progress highlighted by robust D2T RA data, rapid program execution, and a solid cash position. Key launches and data readouts are expected in the coming year, with significant momentum across the portfolio.

Q3 2026 Q3 2026 2026-02-06

Positive phase 2 results for brepocitinib in cutaneous sarcoidosis highlight strong efficacy and safety, supporting advancement to phase 3. The company remains well-funded with $4.5B in cash and anticipates multiple pivotal readouts and potential launches in 2026.

Q2 2026 Q2 2026 2025-11-10

Delivered strong clinical results in DM and Graves' disease, maintained $4.4B cash, and advanced a robust late-stage pipeline. NDA for brepocitinib in DM is on track, with multiple data readouts and launches expected over the next 36 months.

Q2 2025 Q2 2025 2024-11-07

IMVT-1402 development advanced with five INDs cleared, focusing on Graves' disease and difficult-to-treat RA. Strong proof-of-concept data and innovative trial designs support a broad pipeline, with multiple data readouts expected soon.

📊 Analysis Methodology

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