Notizie in diretta • May 22
Roivant Sciences Turns Profitable as Brepocitinib Launch and Key Drug Data Await Regulatory Decisions Roivant Sciences swung to profitability in Q4 FY 2026, reversing an attributable net loss from the prior year, which coincided with a roughly 15% move higher in the stock.
The company is targeting a commercial launch of oral autoimmune therapy brepocitinib by the end of September, following FDA acceptance and a target action date in Q3.
Roivant reported encouraging preliminary open-label data for IMVT-1402 in difficult-to-treat rheumatoid arthritis and is advancing a Phase II study of inhaled mosliciguat for pulmonary hypertension associated with interstitial lung disease, with top-line data planned for the second half of 2026.
The shift to profitability, alongside advancing late-stage and mid-stage drug programs, highlights how much of the story is tied to successful execution on upcoming regulatory and clinical milestones.
Investors following Roivant will likely focus on the brepocitinib launch timeline, future data updates for IMVT-1402 and mosliciguat, and the risks that delays or weaker-than-expected clinical results could have on sentiment. Reported Earnings • May 21
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: US$0.43 loss per share (improved from US$0.75 loss in FY 2025). Net loss: US$299.8m (loss narrowed 45% from FY 2025). Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) exceeded analyst estimates by 57%. Revenue is forecast to grow 54% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Annuncio • May 12
Roivant Sciences Ltd. to Report Q4, 2026 Results on May 20, 2026 Roivant Sciences Ltd. announced that they will report Q4, 2026 results Pre-Market on May 20, 2026 Recent Insider Transactions Derivative • Apr 26
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 200k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of April. If the sale is conducted around the recent share price of US$29.59, it would amount to US$5.9m. Since June 2025, Eric's direct individual holding has increased from 1.31m shares to 1.33m. Company insiders have collectively sold US$388m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Apr 22
CEO & Director recently sold US$8.4m worth of stock On the 16th of April, Matthew Gline sold around 290k shares on-market at roughly US$29.16 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Matthew has been a net seller over the last 12 months, reducing personal holdings by US$8.4m. Recent Insider Transactions Derivative • Apr 19
CEO & Director notifies of intention to sell stock Matthew Gline intends to sell 290k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of April. If the sale is conducted around the recent share price of US$29.16, it would amount to US$8.4m. Almost all of their compensation in the past year has been non-cash. These sales could comprise a meaningful part of their income for the year. Since June 2025, Matthew's direct individual holding has increased from 59.15k shares to 372.03k. Company insiders have collectively sold US$380m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Apr 07
President exercised options and sold US$1.6m worth of stock On the 31st of March, Mayukh Sukhatme exercised options to acquire 58k shares at no cost and sold these for an average price of US$27.04 per share. This trade did not impact their existing holding. Mayukh now holds 18.68m shares directly in their own name. Company insiders have collectively sold US$376m more than they bought, via options and on-market transactions in the last 12 months. Annuncio • Apr 02
Roivant Sciences Ltd. Announces Expansion of Brepocitinib Development Program with New Phase 2b/3 Trial in Lichen Planopilaris (LPP) and Phase 3 Study Results for Batoclimab in Thyroid Eye Disease (TED) Roivant Sciences Ltd. announced a new Phase 2b/3 clinical program for brepocitinib in lichen planopilaris (LPP), a highly morbid inflammatory scalp disorder affecting approximately 100,000 adults in the United States, and reported the topline results from Immunovant’s two Phase 3 (GO) clinical studies evaluating batoclimab as an investigational treatment for adults with active, moderate-to-severe thyroid eye disease (TED). LPP inflammation targets the stem cell-rich bulge region of the hair follicle (the permanent portion responsible for hair growth), resulting in generally irreversible hair loss and permanent scarring. LPP is also associated with other burdensome symptoms, including pain, burning, itching, and scaling and an increased risk of comorbidities such as other autoimmune diseases and skin cancers. There are currently no FDA-approved therapies to treat LPP. Priovant recently began enrolling subjects in a seamless Phase 2b/3 study of brepocitinib in LPP, with the first subjects enrolled in March 2026. This program marks Priovant’s fourth indication in late-stage clinical development, alongside dermatomyositis (DM), non-infectious uveitis (NIU) and cutaneous sarcoidosis (CS). The U.S. Food and Drug Administration (FDA) recently granted Priority Review to brepocitinib’s New Drug Application (NDA) for DM and assigned a Prescription Drug User Fee Act (PDUFA) target action date in the third quarter of calendar year 2026. Topline Phase 3 data in NIU and Phase 3 study initiation in CS are expected in the second half of calendar year 2026.Based on the pre-specified statistical analysis plan, the studies failed to meet their primary endpoint of =2mm proptosis responder rate at Week 24, following 12 weeks of high-dose and 12 weeks of low-dose batoclimab treatment. Safety results were consistent with previous findings, and no new safety signals were identified. Patients in the TED studies had greater levels of proptosis improvement from baseline after the initial 12-week high-dose period than after the following 12-week low-dose period, supporting the benefit of deeper IgG suppression. The subset of hyperthyroid patients in the TED studies showed similar response rates of thyroid hormone normalization to those seen in the batoclimab Phase 2 study in Graves’ disease. Immunovant remains focused on rapidly advancing the clinical development of IMVT-1402, an investigational FcRn blocker, across multiple autoimmune diseases with significant unmet need, with Graves’ disease as a key strategic priority. Recent Phase 2 proof-of-concept data highlighted FcRn blockade as a potentially disease-modifying approach in Graves’ disease. Topline data from the potentially registrational studies of IMVT-1402 in Graves’ disease are expected in calendar year 2027.Immunovant intends to review future plans for the development of batoclimab with its partner HanAll Biopharma Co. Ltd. (HanAll) and to provide an update on the program, in conjunction with HanAll, at a future date. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. President, Chief Investment Officer & Director Mayukh Sukhatme was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions Derivative • Mar 29
Independent Director notifies of intention to sell stock Meghan FitzGerald intends to sell 70k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of March. If the sale is conducted around the recent share price of US$27.45, it would amount to US$1.9m. Since September 2025, Meghan has owned 28.44k shares directly. Company insiders have collectively sold US$368m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Mar 19
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 200k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of March. If the sale is conducted around the recent share price of US$28.24, it would amount to US$5.6m. Since March 2025, Eric's direct individual holding has increased from 883.70k shares to 1.33m. Company insiders have collectively sold US$372m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Feb 10
President notifies of intention to sell stock Mayukh Sukhatme intends to sell 339k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of February. If the sale is conducted around the recent share price of US$26.47, it would amount to US$9.0m. Mayukh now holds 18.84m shares directly in their own name. Company insiders have collectively sold US$293m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Feb 08
Price target increased by 7.7% to US$29.09 Up from US$27.00, the current price target is an average from 11 analysts. New target price is 13% above last closing price of US$25.82. Stock is up 137% over the past year. The company is forecast to post a net loss per share of US$1.19 next year compared to a net loss per share of US$0.75 last year. Reported Earnings • Feb 07
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: US$0.38 loss per share (further deteriorated from US$0.22 loss in 3Q 2025). Revenue: US$2.00m (down 78% from 3Q 2025). Net loss: US$265.9m (loss widened 69% from 3Q 2025). Revenue missed analyst estimates by 67%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 63% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 48% per year, which means it is well ahead of earnings. Annuncio • Feb 06
Pulmovant Announces Completion of Enrollment in the Phase 2 PHocus Study of Mosliciguat in Patients with Interstitial Lung Disease Pulmovant, and a Roivant company announced that it has completed enrollment in the Phase 2 PHocus clinical trial evaluating mosliciguat for the treatment of pulmonary hypertension associated with interstitial lung disease (PH-ILD), a progressive and life-threatening condition with significant unmet medical needs for patients. Mosliciguat is a potential first-in-class, once-daily, inhaled sGC activator with a differentiated mechanism of action designed to deliver targeted pulmonary vasodilation with limited systemic side effects for the treatment of PH-ILD. Pulmovant completed enrollment of the PHocus clinical trial in under 12 months from first patient dosed, an impressive timeline in clinical development of treatments for PH-ILD. Pulmovaant remains on track to report PHocus topline data in the second half of calendar year 2026. The Phase 2 PHocus clinical study (NCT06635850) is a randomized, double-blind, placebo-controlled, global trial assessing the safety and efficacy of mosliciguat in approximately 120 adult participants with PH-ILD.Mosliciguat is also being evaluated in the Phase 2 PHactor clinical study (NCT07333183), an open-label trial evaluating the tolerability and safety of inhaled mosliciguat in combination with inhaled treprostinil in participants with PH-ILD. The Phase 2 PH focus clinical study (NCT0 6635850) is a randomized. double-blind, placebo- controlled, global trial evaluating the safety and efficacy of Mosliciguat in approximately120 adult participants with PH-ILD; Mosliciguat is also be evaluated in the Phase 2 PHact clinical study (NCT0733183), an open- label trial evaluating the tolerability and Safety of inhaled moslicigUat in combination with inhaled Treprostinil in Participants with PH-ILD. PulmOVant is a clinical-stage biotechnology company committed to transforming the lives of patients with pulmonary diseases and is a Roivant company. Pulmovant's first investigational candidate, Mosliciguat, is designed to provide a novel, once- daily, inhaled treatment option for patients with pulmonary hypertension associated with Interstitial Lung Disease (PH-ILD). Mosliciguat is an potential first-in-classsoluble guanylate cyclase activator with a differentiated mechanismof action currently being evaluated in the Phase 2PHocus clinical trial in under 12 years. Annuncio • Jan 24
Roivant Sciences Ltd. to Report Q3, 2026 Results on Feb 06, 2026 Roivant Sciences Ltd. announced that they will report Q3, 2026 results Pre-Market on Feb 06, 2026 Recent Insider Transactions Derivative • Jan 13
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 200k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of January. If the sale is conducted around the recent share price of US$21.92, it would amount to US$4.4m. Since March 2025, Eric's direct individual holding has increased from 883.70k shares to 1.33m. Company insiders have collectively sold US$290m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Jan 07
Price target increased by 10% to US$27.00 Up from US$24.55, the current price target is an average from 11 analysts. New target price is 23% above last closing price of US$21.96. Stock is up 99% over the past year. The company is forecast to post a net loss per share of US$1.16 next year compared to a net loss per share of US$0.75 last year. Recent Insider Transactions • Dec 31
Chief Financial Officer recently sold US$3.3m worth of stock On the 23rd of December, Richard Pulik sold around 147k shares on-market at roughly US$22.39 per share. This transaction amounted to 73% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$38m. This was Richard's only on-market trade for the last 12 months. Annuncio • Dec 11
Roivant Highlights Continued Pipeline Progress and Outlook for Company's Next Phase of Growth At 2025 Investor Day Roivant announced positive updates to timing guidance across four key programs: Brepocitinib NDA filing in dermatomyositis (DM) now expected in early calendar year 2026; commercial preparation underway with launch expected early in calendar year 2027; Brepocitinib Phase 3 trial in non-infectious uveitis (NIU) fully enrolled with topline data now expected in the second half of calendar year 2026; commercial preparations underway with launch expected early in fiscal year 2027; Bre pocitinib Phase 3 trials in non-infectious uVEitis (NIU) fully enroll with topline data now expects in the first half of calendar year 2026, and a proof-of-concept trial in cutaneous lupus erythematosus (CLE) Mosliciguat: Enrollment in the ongoing Phase 2 trial of mosliciguat in pulmonary hypertension associated with interstitial lung disease (PH-ILD) remains on track; Pulmovant plans to report topline data in the second half of calendaryear 2026, previously expected in the second half of fiscal year 2026; previously expected Period 1 data in calendar year 2026 and topline data in calendar year 2027; All other clinical development timelines remain on track, including potentially registrational trials in GD, myasthenia gravis (MG), chronic inflammatory demyelinating polyneuropathy (CIDP) and Sjogren's disease (SjD), and a proof-of- concept trial in cutaneous lupUS erythematosus ("CLE") Mosliciguat") Enrollment in the ongoing Phase2 trial of moslicigu at pulmonary hypertension associated with interstitial lupus erytheMatosus (CLE). Pulmovant also expects to imminently initiate a Phase 2 study (n=20) evaluating mosliciguat in combination with inhaled treprostinil in patients with PH-ILD Genevant. In the US Moderna litigation, a jury trial has been scheduled for March 2026. Awaiting court scheduling in the Pfizer/BioNTech litigation. Initial court hearings and rulings in the ex-US Moderna litigation expected in calendar year 2026. Recent Insider Transactions Derivative • Dec 10
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 200k shares in the next 90 days after lodging an Intent To Sell Form on the 9th of December. If the sale is conducted around the recent share price of US$20.85, it would amount to US$4.2m. Since December 2024, Eric's direct individual holding has increased from 438.01k shares to 1.17m. Company insiders have collectively sold US$153m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 19
Insider recently sold US$38m worth of stock On the 17th of November, Vivek Ramaswamy sold around 2m shares on-market at roughly US$20.46 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$110m more than they bought in the last 12 months. Reported Earnings • Nov 12
Second quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2026 results: US$0.17 loss per share (improved from US$0.25 loss in 2Q 2025). Revenue: US$1.57m (down 65% from 2Q 2025). Net loss: US$113.5m (loss narrowed 39% from 2Q 2025). Revenue missed analyst estimates by 75%. Earnings per share (EPS) exceeded analyst estimates by 49%. Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Nov 09
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 200k shares in the next 90 days after lodging an Intent To Sell Form on the 7th of November. If the sale is conducted around the recent share price of US$20.22, it would amount to US$4.0m. Since December 2024, Eric's direct individual holding has increased from 438.01k shares to 1.17m. Company insiders have collectively sold US$113m more than they bought, via options and on-market transactions in the last 12 months. Annuncio • Oct 28
Roivant Sciences Ltd. to Report Q2, 2026 Results on Nov 10, 2025 Roivant Sciences Ltd. announced that they will report Q2, 2026 results on Nov 10, 2025 Recent Insider Transactions Derivative • Oct 07
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 171k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of October. If the sale is conducted around the recent share price of US$16.34, it would amount to US$2.8m. Since December 2024, Eric's direct individual holding has increased from 438.01k shares to 1.17m. Company insiders have collectively sold US$108m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Sep 25
President & CEO of Immunovant recently sold US$17m worth of stock On the 23rd of September, Eric Venker sold around 1m shares on-market at roughly US$14.90 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$22m. This was Eric's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Sep 21
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 684k shares in the next 90 days after lodging an Intent To Sell Form on the 19th of September. If the sale is conducted around the recent share price of US$14.95, it would amount to US$10m. Since December 2024, Eric's direct individual holding has increased from 438.01k shares to 1.31m. Company insiders have collectively sold US$155m more than they bought, via options and on-market transactions in the last 12 months. Price Target Changed • Sep 18
Price target increased by 16% to US$19.64 Up from US$17.00, the current price target is an average from 11 analysts. New target price is 30% above last closing price of US$15.09. Stock is up 27% over the past year. The company is forecast to post a net loss per share of US$1.35 next year compared to a net loss per share of US$0.75 last year. Annuncio • Sep 17
Roivant and Priovant Announce Positive Phase 3 Valor Study Results for Brepocitinib in 52-Week Placebo-Controlled Trial in Dermatomyositis Roivant and Priovant Therapeutics announced positive results from the Phase 3 VALOR study evaluating brepocitinib in dermatomyositis (DM). On the primary endpoint, brepocitinib 30 mg achieved a week 52 mean Total Improvement Score (TIS) of 46.5 compared to 31.2 for placebo (p=0.0006), even with nearly twice as many patients coming off background steroid on brepocitinib30 mg compared to placebo. More than two thirds of brepocitinib 300 mg patients experienced at least a moderate response (TIS40), and nearly half experienced a major response (TIS60). Consistent dose response was seen between 30 mg and 15 mg dose arms, establishing 30 mg dose as optimal in this setting. Safety profile was consistent with previous brepocitinib and NDA filing is planned for calendar 1H 2026. The observed brepocitinib 25 mg safety profile was consistent with previous bre p<0.0006. The observed brepoc itinib 30 mg safety profile was consistent with previously brepocitinib clinical trials. Adverse events of special interest (AESIs), which included malignancy, cardiovascular events, and thromboembolic events, did not occur with greater frequency in the brepocitinib 50 mg arm than the placebo arm. Priovant plans to file an NDA for brepocit in dermatomyositis in the first half of 2026. Annuncio • Sep 15
ProofPilot, Inc. acquired Lokavant, Inc. ProofPilot, Inc. acquired Lokavant, Inc. on September 15, 2025.
ProofPilot, Inc. completed the acquisition of Lokavant, Inc. on September 15, 2025. Recent Insider Transactions • Sep 08
Insider recently sold US$22m worth of stock On the 5th of September, Vivek Ramaswamy sold around 2m shares on-market at roughly US$12.65 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$106m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Aug 21
President & CEO of Immunovant notifies of intention to sell stock Eric Venker intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of August. If the sale is conducted around the recent share price of US$11.72, it would amount to US$1.2m. Since September 2024, Eric's direct individual holding has increased from 266.07k shares to 1.31m. Company insiders have collectively sold US$131m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Aug 18
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$28.5m to US$23.7m. Forecast losses increased from -US$1.29 to -US$1.36 per share. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target broadly unchanged at US$17.11. Share price rose 6.1% to US$11.85 over the past week. Reported Earnings • Aug 12
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: US$0.33 loss per share (down from US$0.008 profit in 1Q 2025). Revenue: US$2.17m (down 73% from 1Q 2025). Net loss: US$223.4m (down US$229.6m from profit in 1Q 2025). Revenue missed analyst estimates by 69%. Earnings per share (EPS) also missed analyst estimates by 26%. Revenue is forecast to grow 60% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 44% per year whereas the company’s share price has increased by 41% per year. Annuncio • Aug 12
Roivant Sciences Ltd. (NasdaqGS:ROIV) announces an Equity Buyback for $500 million worth of its shares. Roivant Sciences Ltd. (NasdaqGS:ROIV) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its common shares. Annuncio • Jul 30
Roivant Sciences Ltd., Annual General Meeting, Sep 10, 2025 Roivant Sciences Ltd., Annual General Meeting, Sep 10, 2025. Location: royal lancaster london hotel, lancaster terrace, london w2 2ty, united kingdom, United Kingdom Annuncio • Jul 29
Roivant Sciences Ltd. to Report Q1, 2026 Results on Aug 11, 2025 Roivant Sciences Ltd. announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on Aug 11, 2025 Recent Insider Transactions Derivative • Jul 22
President & COO notifies of intention to sell stock Eric Venker intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 21st of July. If the sale is conducted around the recent share price of US$11.52, it would amount to US$1.2m. Since September 2024, Eric's direct individual holding has increased from 266.07k shares to 1.31m. Company insiders have collectively sold US$131m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jun 08
Insider recently sold US$8.5m worth of stock On the 6th of June, Vivek Ramaswamy sold around 748k shares on-market at roughly US$11.30 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$10m. Insiders have been net sellers, collectively disposing of US$71m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Jun 03
President & COO notifies of intention to sell stock Eric Venker intends to sell 434k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of June. If the sale is conducted around the recent share price of US$11.07, it would amount to US$4.8m. Since June 2024, Eric's direct individual holding has increased from 239.53k shares to 853.40k. Company insiders have collectively sold US$102m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • May 30
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: US$0.75 loss per share (down from US$5.55 profit in FY 2024). Revenue: US$29.1m (down 77% from FY 2024). Net loss: US$545.0m (down 113% from profit in FY 2024). Revenue missed analyst estimates by 79%. Earnings per share (EPS) exceeded analyst estimates by 27%. Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions Derivative • May 21
President & COO notifies of intention to sell stock Eric Venker intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of May. If the sale is conducted around the recent share price of US$10.95, it would amount to US$1.1m. Since June 2024, Eric's direct individual holding has increased from 239.53k shares to 892.55k. Company insiders have collectively sold US$102m more than they bought, via options and on-market transactions in the last 12 months. Annuncio • May 16
Roivant Sciences Ltd. to Report Q4, 2025 Results on May 29, 2025 Roivant Sciences Ltd. announced that they will report Q4, 2025 results on May 29, 2025 Recent Insider Transactions • May 11
Insider recently sold US$10m worth of stock On the 7th of May, Vivek Ramaswamy sold around 899k shares on-market at roughly US$11.27 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$62m more than they bought in the last 12 months. Recent Insider Transactions Derivative • Apr 23
President & COO notifies of intention to sell stock Eric Venker intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 21st of April. If the sale is conducted around the recent share price of US$10.22, it would amount to US$1.0m. Since June 2024, Eric's direct individual holding has increased from 239.53k shares to 883.70k. Company insiders have collectively sold US$91m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Mar 21
President & COO notifies of intention to sell stock Eric Venker intends to sell 650k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of March. If the sale is conducted around the recent share price of US$10.95, it would amount to US$7.1m. Since June 2024, Eric's direct individual holding has increased from 239.53k shares to 622.55k. Company insiders have collectively sold US$93m more than they bought, via options and on-market transactions in the last 12 months. Annuncio • Feb 22
Roivant Sciences Ltd. Announces Stepping Down of Rakhi Kumar as Principal Accounting Officer Roivant Sciences Ltd. announced stepping down of Rakhi Kumar as Principal Accounting Officer, effective February 20, 2025. Recent Insider Transactions • Feb 20
Chief Accounting Officer recently sold US$417k worth of stock On the 13th of February, Rakhi Kumar sold around 40k shares on-market at roughly US$10.43 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$52m more than they bought in the last 12 months. Major Estimate Revision • Feb 17
Consensus revenue estimates increase by 18% The consensus outlook for revenues in fiscal year 2025 has improved. 2025 revenue forecast increased from US$119.5m to US$141.3m. Forecast losses expected to reduce from -US$0.736 to -US$0.329 per share. Biotechs industry in the US expected to see average net income decline 10% next year. Consensus price target broadly unchanged at US$16.00. Share price fell 2.1% to US$10.56 over the past week. Recent Insider Transactions Derivative • Feb 13
President & COO notifies of intention to sell stock Eric Venker intends to sell 600k shares in the next 90 days after lodging an Intent To Sell Form on the 12th of February. If the sale is conducted around the recent share price of US$10.50, it would amount to US$6.3m. Since March 2024, Eric's direct individual holding has increased from 204.81k shares to 449.12k. Company insiders have collectively sold US$88m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 10
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: US$0.22 loss per share (down from US$6.37 profit in 3Q 2024). Revenue: US$9.02m (down 76% from 3Q 2024). Net loss: US$157.6m (down 103% from profit in 3Q 2024). Revenue exceeded analyst estimates by 90%. Earnings per share (EPS) also surpassed analyst estimates by 178%. Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Annuncio • Jan 30
Roivant Sciences Ltd. to Report Q3, 2025 Results on Feb 10, 2025 Roivant Sciences Ltd. announced that they will report Q3, 2025 results on Feb 10, 2025 Recent Insider Transactions Derivative • Jan 22
President & COO notifies of intention to sell stock Eric Venker intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 21st of January. If the sale is conducted around the recent share price of US$11.28, it would amount to US$1.1m. Since March 2024, Eric's direct individual holding has increased from 204.81k shares to 438.01k. Company insiders have collectively sold US$88m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Dec 19
President notifies of intention to sell stock Mayukh Sukhatme intends to sell 413k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of December. If the sale is conducted around the recent share price of US$12.05, it would amount to US$5.0m. Since December 2023, Mayukh's direct individual holding has decreased from 3.29m shares to 0. Company insiders have collectively sold US$109m more than they bought, via options and on-market transactions in the last 12 months. Annuncio • Dec 03
Roivant Announces Topline Results from Phase 2 RESOLVE-Lung Study of Namilumab in Chronic Active Pulmonary Sarcoidosis Kinevant Sciences announced its Phase 2 study failed to show treatment benefit in patients with chronic active pulmonary sarcoidosis. The Phase 2 RESOLVE-Lung study (NCT05314517) evaluated the efficacy and safety of namilumab, an investigational anti-GM-CSF monoclonal antibody administered once-monthly as a subcutaneous injection, in participants with chronic active pulmonary sarcoidosis. Primary Endpoint Details: Namilumab failed to meet the primary endpoint of proportion of subjects with a Rescue Event during the double-blind period. Secondary Endpoints Details: Secondary efficacy endpoints, including change in percent predicted forced vital capacity, corticosteroid tapering success, and change in the patient reported King’s Sarcoidosis Questionnaire failed to show a treatment benefit consistent with the primary endpoint. Safety Details: The safety profile of namilumab in RESOLVE-Lung remains similar to previous studies. With these results, Kinevant will be discontinuing further development of namilumab for the treatment of sarcoidosis. Kinevant is committed to publishing the results of RESOLVE-Lung to inform future sarcoidosis research. The RESOLVE-Lung study is a Phase 2 randomized, double-blind, placebo-controlled study of namilumab for the treatment of pulmonary sarcoidosis at sites in the U.S. and Europe. The study enrolled 107 patients with pulmonary sarcoidosis considered to have chronic, active disease not well-controlled despite available therapeutic options. Patients in the study received a once-monthly subcutaneous injection of namilumab or placebo (following the initial dosing period) for approximately six months. All patients who complete the 26-week double-blind treatment period were eligible to participate in a 28-week open-label extension treatment period on namilumab. The primary endpoint of this study was proportion of subjects with a Rescue Event during the double-blind period. Rescue Event was defined as clinically significant worsening of a subject’s sarcoidosis requiring treatment, failure to adhere to the protocol defined OCS taper, or premature discontinuation from the study associated with lack of benefit during the double-blind treatment period. Study eligibility did not require subjects to be on high dose corticosteroids. If subjects were on >5mg/day of oral corticosteroid (OCS) at baseline, they were required to taper down to 5mg/day 8-10 weeks after randomization. If patients were on an immunosuppressive therapy (IST), they were required to stop the IST at randomization. Notably, all subjects enrolled had evidence of active pulmonary sarcoidosis disease, defined as a positive HRCT scan, significant lung inflammation on PET, and moderate to severe self-reported breathlessness. Pulmonary sarcoidosis is a lung disease characterized by the presence of granulomas (clumps of immune cells) of unknown etiology that can cause breathlessness, fatigue, and pain. The resulting inflammation, if not effectively treated, can result in lung tissue scarring (fibrosis), lung dysfunction, and eventually lung failure. Approximately 50% of diagnosed patients require chronic therapy to treat symptoms and prevent progression. Oral steroids (e.g., prednisone) and off-label immunosuppressive therapies (e.g., methotrexate) are first- and second-line therapies respectively for sarcoidosis; however, these therapeutic options are often not effective or can be accompanied by serious side effects. Approximately 200,000 people in the U.S. (and more than 1 million worldwide) are estimated to have sarcoidosis, an immune-mediated inflammatory disease that can affect any organ in the body, with about 90% of cases involving the lung. Granulocyte macrophage colony stimulating factor (GM-CSF) is a pro-inflammatory cytokine over-expressed in several inflammatory diseases, including sarcoidosis. GM-CSF mediated pro-inflammatory signaling is thought to play a central role in recruitment of macrophages and monocytes to the lung and to trigger a granulomatous response, including the fusion of macrophages into multinucleated giant cells. Namilumab is an anti-GM-CSF monoclonal antibody formulated to be administered once-monthly as a subcutaneous injection being investigated for the treatment of pulmonary sarcoidosis. Recent Insider Transactions Derivative • Nov 21
President & COO notifies of intention to sell stock Eric Venker intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of November. If the sale is conducted around the recent share price of US$11.32, it would amount to US$1.1m. Since December 2023, Eric's direct individual holding has increased from 162.38k shares to 274.92k. Company insiders have collectively sold US$109m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Nov 19
Consensus revenue estimates decrease by 36% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$194.0m to US$125.0m. EPS estimate unchanged at -US$0.727 per share. Biotechs industry in the US expected to see average net income decline 13% next year. Consensus price target down from US$16.94 to US$16.21. Share price fell 5.5% to US$11.16 over the past week. New Risk • Nov 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 1,958% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 53% per year for the foreseeable future. High level of non-cash earnings (1,958% accrual ratio). Minor Risk Significant insider selling over the past 3 months (US$52m sold). Reported Earnings • Nov 13
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.25 loss per share (improved from US$0.40 loss in 2Q 2024). Revenue: US$4.48m (down 88% from 2Q 2024). Net loss: US$187.1m (loss narrowed 39% from 2Q 2024). Revenue missed analyst estimates by 43%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 59% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Annuncio • Oct 30
Roivant Sciences Ltd. to Report Q2, 2025 Results on Nov 12, 2024 Roivant Sciences Ltd. announced that they will report Q2, 2025 results on Nov 12, 2024 Annuncio • Oct 28
Organon & Co. (NYSE:OGN) completed the acquisition of Dermavant Sciences Ltd. from Roivant Sciences Ltd. (NasdaqGS:ROIV) and others. Organon & Co. (NYSE:OGN) entered into an Agreement and Plan of Merger to acquire Dermavant Sciences Ltd. from Roivant Sciences Ltd. (NasdaqGS:ROIV) and others for approximately $1.2 billion on September 17, 2024. A cash consideration, Organon to acquire Dermavant for aggregate consideration of up to approximately $1.2 billion, comprising (i) a payment of $175 million payable at the closing of the Merger, subject to certain adjustments, (ii) a $75 million milestone payment payable upon FDA approval of VTAMA product for the treatment of atopic dermatitis and (iii) up to $950 million in additional milestone payments payable upon achievement of certain tiered net sales amounts with respect to the Product, each less than or equal to $1 billion. Additionally, Organon has agreed to make tiered royalty payments of (x) low-to-mid single digit percentages with respect to annual net sales of the Product up to $1 billion and (y) 30% with respect to annual net sales of the Product above $1 billion. Upon closing of the transaction, as part of the purchase price consideration, Organon would assume Dermavant liabilities with an approximate value of $286 million reported by Roivant as of June 30, 2024, which would be subject to fair value accounting by Organon. Dermavant owns the rights to VTAMA cream globally excluding China and has out licensed Japan rights. Pursuant to the terms of the Merger Agreement, Dermavant continuing as the surviving company and a wholly owned subsidiary of Organon.
The boards of directors of the Company and of Dermavant each approved the entry into the Merger Agreement and the consummation of the Merger. Concurrently with the entry into the Merger Agreement, the Merger Agreement and the Merger were approved by written consent of shareholders constituting at least 75% of the aggregate voting rights of Dermavant’s issued and outstanding common and preference shares. Completion of the transaction is subject to review under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. The transaction is expected to be modestly dilutive to Adjusted EBITDA in 2025, turning accretive in 2026. Organon expects net leverage to be elevated above 4.0x as a result of the transaction. The transaction is not expected to result in a revision to Organon’s capital allocation priorities. Company and Organon has the right to terminate the Merger Agreement and abandon the Merger in the event that the Merger has not been consummated by January 5, 2025 due to failure to satisfy certain antitrust-related conditions. Closing of the transaction is currently expected to take place in the fourth quarter of 2024.
Damien Zoubek, Jenny Hochenberg and Tomas Rua, Jeff Jay, Lori Goodman, Steven Matays, Meghan Rissmiller and Rod Carlton, Charles Ramsey, Christine Lyon and Brock Dahl and Stephanie Brown-Cripps of Freshfields Bruckhaus Deringer LLP acted as legal advisor for Roivant Sciences Ltd and Dermavant Sciences Ltd. Goldman Sachs & Co. LLC acted as financial advisor for Roivant Sciences Ltd. Catherine Dargan and Patrick Manchester of Covington & Burling LLP acted as legal advisor for Organon & Co. Deloitte & Touche LLP acted as accountant to Roivant Sciences Ltd. Conyers Dill & Pearman LLP acted as Bermuda legal advisor for Roivant Sciences Ltd.
Organon & Co. (NYSE:OGN) completed the acquisition of Dermavant Sciences Ltd. from Roivant Sciences Ltd. (NasdaqGS:ROIV) and others on October 28, 2024. Recent Insider Transactions Derivative • Oct 23
President & COO notifies of intention to sell stock Eric Venker intends to sell 100k shares in the next 90 days after lodging an Intent To Sell Form on the 21st of October. If the sale is conducted around the recent share price of US$11.65, it would amount to US$1.2m. Since December 2023, Eric's direct individual holding has increased from 162.38k shares to 266.07k. Company insiders have collectively sold US$108m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions Derivative • Oct 03
Independent Director notifies of intention to sell stock Daniel Gold intends to sell 2m shares in the next 90 days after lodging an Intent To Sell Form on the 24th of September. If the sale is conducted around the recent share price of US$11.63, it would amount to US$18m. Since March 2024, Daniel's direct individual holding has decreased from 9.91m shares to 6.43m. Company insiders have collectively sold US$116m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Sep 26
CEO & Director recently sold US$5.1m worth of stock On the 23rd of September, Matthew Gline sold around 433k shares on-market at roughly US$11.79 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Matthew's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Sep 25
CEO & Director notifies of intention to sell stock Matthew Gline intends to sell 2m shares in the next 90 days after lodging an Intent To Sell Form on the 23rd of September. If the sale is conducted around the recent share price of US$11.79, it would amount to US$23m. For the year to March 2021, Matthew's total compensation was 98% salary and 2% non-salary. Since September 2023, Matthew's direct individual holding has increased from 645.38k shares to 931.79k. Company insiders have collectively sold US$55m more than they bought, via options and on-market transactions in the last 12 months. Annuncio • Sep 18
Organon & Co. (NYSE:OGN) agreed to acquire Dermavant Sciences Ltd. from Roivant Sciences Ltd. (NasdaqGS:ROIV) and others for approximately $1.2 billion. Organon & Co. (NYSE:OGN) agreed to acquire Dermavant Sciences Ltd. from Roivant Sciences Ltd. (NasdaqGS:ROIV) from and others for approximately $1.2 billion on September 18, 2024. A cash consideration will be paid by Organon & Co. Organon has agreed to acquire Dermavant for aggregate consideration of up to approximately $1.2 billion, with an upfront payment of $175 million and a $75 million milestone payment upon regulatory approval in AD, as well as payments of up to $950 million for the achievements of certain commercial milestones. Upon closing of the transaction, as part of the purchase price consideration, Organon would assume Dermavant liabilities with an approximate value of $286 million reported by Roivant as of June 30, 2024, which would be subject to fair value accounting by Organon. In addition, Organon will pay Dermavant shareholders tiered royalties on net sales. Dermavant owns the rights to VTAMA cream globally excluding China and has out licensed Japan rights. Completion of the transaction is subject to review under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. Closing of the transaction is currently expected to take place in the fourth quarter of 2024. The transaction is expected to be modestly dilutive to Adjusted EBITDA in 2025, turning accretive in 2026. Organon expects net leverage to be elevated above 4.0x as a result of the transaction. The transaction is not expected to result in a revision to Organon’s capital allocation priorities.
Freshfields Bruckhaus Deringer LLP acted as legal advisor for Roivant Sciences Ltd. Goldman Sachs & Co. LLC acted as financial advisor for Roivant Sciences Ltd. Covington & Burling LLP acted as legal advisor for Organon & Co. Major Estimate Revision • Aug 16
Consensus revenue estimates increase by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from US$147.7m to US$174.2m. EPS estimate unchanged from -US$0.70 at last update. Biotechs industry in the US expected to see average net income decline 11% next year. Consensus price target of US$16.67 unchanged from last update. Share price rose 4.2% to US$11.31 over the past week. New Risk • Aug 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 1,252% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 60% per year for the foreseeable future. High level of non-cash earnings (1,252% accrual ratio). Reported Earnings • Aug 09
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.13 (up from US$0.38 loss in 1Q 2024). Revenue: US$55.1m (up 155% from 1Q 2024). Net income: US$95.3m (up US$387.1m from 1Q 2024). Revenue exceeded analyst estimates by 86%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 51% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • Jul 29
Roivant Sciences Ltd., Annual General Meeting, Sep 10, 2024 Roivant Sciences Ltd., Annual General Meeting, Sep 10, 2024. Location: royal lancaster london hotel, lancaster terrace, london w2 2ty, united kingdom on, london United States Annuncio • Jul 26
Roivant Sciences Ltd. to Report Q1, 2025 Results on Aug 08, 2024 Roivant Sciences Ltd. announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • Jun 04
Full year 2024 earnings: EPS in line with expectations, revenues disappoint Full year 2024 results: EPS: US$5.55 (up from US$1.58 loss in FY 2023). Revenue: US$124.8m (up 104% from FY 2023). Net income: US$4.35b (up US$5.47b from FY 2023). Products in clinical trials Phase I: 1 Phase II: 6 Phase III: 3 Revenue missed analyst estimates by 81%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 49% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. 
