Announcement • Mar 20

Immunovant,Inc. Reports Topline Results from Its Phase 3 Study of Batoclimab in MG and Initial Results from Period 1 of Its Phase 2B Study in CIDP

Immunovant Inc. reported topline results from its Phase 3 study of batoclimab in MG and initial results from Period 1 of its Phase 2b study in CIDP. The Phase 3 study in MG is a randomized, quadruple-blind, placebo-controlled study designed to assess the efficacy and safety of batoclimab in adults with MG. Following screening, participants with moderate to severe MG were randomized into Period 1 where they received high dose batoclimab (680mg weekly) or lower dose batoclimab (340mg weekly) or placebo for 12 weeks. Responders to batoclimab in Period 1, defined as =2-point improvement in Myasthenia Gravis Activities of Daily Living (MG-ADL) score from baseline, were re-randomized 1:1:1 to batoclimab (340mg weekly or 340mg every other week) or placebo for 12 weeks (Period 2). The primary endpoint of the study was mean change from baseline in MG-ADL in acetylcholine receptor antibody positive (AChR+) participants at Week 12 (end of Period 1). The Phase 2b study in CIDP is a randomized, quadruple-blind, placebo-controlled study designed to assess the efficacy and safety of batoclimab in adult participants with active CIDP. Similar to other recent studies, this Phase 2b study in CIDP begins with a non-placebo controlled run-in (Period 1), during which participants whose disease had worsened during standard of care washout then receive either 340 mg or 680 mg batoclimab weekly by subcutaneous injection. Participants who respond to batoclimab therapy in Period 1 (responders are defined as those achieving a =1 point improvement from Period 1 baseline in adjusted Inflammatory Neuropathy Cause and Treatment (aINCAT) disability score), are then randomized 1:1 to receive either 340 mg batoclimab or placebo weekly in a 24-week withdrawal period (Period 2). The primary endpoint will assess the percentage of participants who remain relapse-free at Week 36, at the end of Period 2. The study is ongoing and has not yet been unblinded. Therefore, pooled data are currently available from Period 1 and no data are available for the primary endpoint at the end of Period 2. In the Phase 3 MG study, batoclimab met its primary endpoint of mean change from baseline in MG-ADL in AChR+ participants. Participants entering the study and randomized to 680mg of batoclimab given weekly by subcutaneous injection achieved a 5.6 point improvement in MG-ADL at Week 12, while those randomized to 340mg of batoclimab given weekly by subcutaneous injection achieved a 4.7 point improvement in MG-ADL at Week 12 and those randomized to placebo experienced a 3.6 point improvement in MG-ADL at Week 12. Large differences between the dosing arms were observed, especially for deeper response thresholds. Results in Period 2 (Weeks 12-24) were as expected, with patients re-randomized to 340mg weekly outperforming those whose dose was reduced. Initial batoclimab data in 73 patients pooled across all cohorts for the run-in Period 1 of the Phase 2b CIDP study demonstrated a 1.8 point improvement in aINCAT (compared to Period 1 baseline) at Week 12. An 84% responder rate (with response defined as an aINCAT improvement = 1) was observed among all patients whose IgG was reduced by = 70%. Other CIDP scales also demonstrated meaningful improvements for pooled batoclimab cohorts, with an improvement in I-RODS of 15.3, an improvement in MRC-SS of 5.6, and an improvement in grip strength of 15.1 all at Week 12. Safety and tolerability were observed to be consistent with prior batoclimab studies. Immunovant plans to initiate potentially registrational studies in both MG and CIDP with lead asset IMVT-1402 and has received clearance for its Investigational New Drug (IND) applications for both indications as previously disclosed. Despite meaningful improvement for patients with MG and CIDP to date with the anti-FcRn class, there continues to be significant unmet need. IMVT-1402 is a potentially best-in-class anti-FcRn that may deliver deeper and more durable clinical responses for patients with MG, CIDP, and many other challenging autoimmune conditions. At present, Immunovant does not intend to seek regulatory approval for batoclimab in MG or CIDP and is focused on leveraging data and learnings from the batoclimab studies to inform and accelerate its programs with IMVT-1402. Immunovant will wait to make a final decision about regulatory submissions for batoclimab until the results of the ongoing Phase 3 studies of batoclimab in thyroid eye disease are available.

Seeking Alpha • Oct 17

Immunovant: Capitalizing On Fast Growing FcRn Space With Novel Asset

Summary Shares have lost roughly half their value since arriving on the Nasdaq in late 2019 via SPAC. Anti-FcRn space is increasingly attractive with 20+ indications on deck or being pursued by leaders Argenx and Janssen. IMVT-1402 could offer best-in-class IgG reductions with subcutaneous dosing minus the tolerability issues of its predecessor, batoclimab. Phase 1 results in mid-2023 represent an important derisking event for the company from which clinical momentum could accelerate into mid and late-stage trials. IMVT is a Buy. Key risks include competition with companies possessing much more in the way of marketing muscle & resources, dilution in late 2023 and setbacks in the clinic. Shares of aspiring autoimmune disease player Immunovant (IMVT) have lost roughly half their value since coming to the Nasdaq in late 2019 via merger with SPAC Health Sciences Acquisitions Company (sponsored by RTW Investments). While year to date performance is flat, share price has risen by over 70% during the past month thanks to the announcement of a new anti-FcRn candidate offering best-in-class IgG reduction, simple subcutaneous route of administration and lacking elevated cholesterol/LDL issues of predecessor batoclimab. As prior NHP (non human primate) results have translated consistently into human data in the clinic, including for former ROTY winner and FcRn leader argenx (ARGX), I look forward to revisiting this one ahead of mid 2023 data update to determine if there's an opportunity for us to capitalize on. Chart FinViz Figure 1: IMVT weekly chart (Source: Finviz) When looking at charts, clarity often comes from taking a look at distinct time frames in order to determine important technical levels and get a feel for what's going on. In the weekly chart above, we can see shares rise to a high of $50 as the anti-FcRn on the whole received a lot of attention with the success of frontrunner argenx. However, share price quickly fell to the mid teens and ultimately mid-single digits after a February 2021 announcement of voluntary pause for lead program batoclimab citing elevated total cholesterol and LDL levels in patients treated. This was followed by executive departures, such as the Chief Medical Officer (often a red flag). The program was restarted, but burdensome exclusion criteria in trials coupled with potential co-administration with statins make this drug candidate seem very niche with highly limited market opportunity. Recently, the share price has rebounded back to high teen digits thanks to introduction of follow-up drug candidate IMVT-1402, which offers potentially best-in-class efficacy without the safety/tolerability requirements of its predecessor. My initial take is that investors would do well to buy dips in the near term, as this story is in very early innings (despite management's tale that batoclimab will continue in the clinic, I think that eventually it will be replaced entirely by IMVT-1402). Overview Founded in 2018 with headquarters in New York (124 employees), Immunovant currently sports enterprise value of ~$800M and Q2 cash position of $494M providing them operational runway into 2025. This does not include the $75M in gross proceeds from recent private placement (with institutional participation from the likes of Logos Capital, Deep Track Capital, Frazier Life Sciences, TCGX, BVF Partners, Commodore Capital and an undisclosed healthcare specialist fund. In September's webcast for Wainwright Investment Conference, the CEO notes that for lead candidate batoclimab they have expanded development to two new indications (CIDP and Graves' Disease). They view these indications as complementary to lead opportunities in myasthenia gravis ((MG)) and thyroid eye disease (TED). The company is fully funded into 2025. Corporate Slides Figure 2: Pipeline (Source: corporate presentation) They expect data in 2H 23 and from there at six month intervals across indications (most notable I think will be topline MG results 2H 24 and topline pivotal TED studies 1H 25). However, my caveat is that those are highly competitive indications and I would not be surprised if estimated trial timelines are drawn out even longer (hard time recruiting patients). Corporate Slides Figure 3: Cadence of data across all indications (Source: corporate presentation) As CIDP is a complex condition, trial needs to be well-designed and trials not using enrichment strategy have failed, historically. So, Immunovant is improving on an enrichment strategy introduced by argenx. The way these trials are done is that people who are stable on IVIG or steroids have their standard of care removed, then during washout period only participants who worsen go to the next period where they receive open label therapy and then only those patients who improve go on to period 2. Period 2 is the regulatory period where there is a blinded, placebo-controlled design with withdrawal. Without the washout period, there is a risk that people enrolled are not active and placebo arm doesn't get worse (trial doesn't show a difference). Immunovant is adding a third enrichment which is only doing primary analysis on IVIG cohort (group with largest effect size because they can be fully washed out, unlike steroids where it is difficult to fully taper them). Another enhancement is studying two doses in open-label period to better understand relationship between IgG lowering and clinical response. For Graves' disease, biology is straightforward but size of the population is less appreciated by investors. There has not been a lot of innovation in this area, and there are 116,000 incident patients in the US. What's less well-described is percentage of people who don't achieve full efficacy on anti-thyroid drugs (1/3rd to 1/4th of incident patients, symptoms can't be adequately controlled and abnormally high thyroid hormones are associated with symptoms). The only options for this group are tough it out, get surgery or radio ablation. Corporate Slides Figure 4: Total addressable incidence population (Source: corporate presentation) Both surgery and radio ablation are becoming less popular due to long term problems associated with them, so opportunity here is attractive and there is obvious synergy with the TED indication. We are reminded that the company is choosing from a broad menu of indications they could address (20+), so to filter down to lead opportunities they focused on likelihood of technical success (how strong the evidence is that an anti-FcRn will work in the condition) and secondly the market opportunity based on degree of unmet need and size of addressable population. CIDP and Graves' were chosen to follow lead opportunities given overlap (ie. having two indications in neurology). Endocrinologists are increasingly playing a role in management of TED and are the only physicians relevant in Graves' disease (the predecessor condition to TED). As for competitive positioning versus Horizon Therapeutics' (HZNP) Tepezza, slated to do up to $3B or more in peak sales as I recall, CEO notes that if Immunovant has success in both indications clinically they will have a strong foothold in endocrinology. In CIDP, they are moving directly into a pivotal study yet lack derisking phase 2 data as they possess with TED. CEO states that to move into a pivotal study, they need to be confident in three things (dose, study design and effect size). In MG, CIDP and TED study design was well-understood including copying or building on designs from competitors like Tepezza. Dose was well-characterized and effect size was reasonably estimated whether from own or competitor data. Key challenge for Graves' disease is trial design from standpoint of anti-thyroid drugs (taking people on them, taper them off in first part) so that's why they are taking their time instead of rushing into phase 3. CIDP and MG are very related (neuromuscular specialists generally treat both), but they are pretty different from patient standpoint as CIDP opportunity for argenx stemmed from switching people from IVIG to Vyvgart. So, when/if Immunovant launches patients will have been on Vyvgart for a while and differentiation could come from deeper IgG lowering and simple subcutaneous dosing (I remain skeptical that this will be enough differentiation to result in a successful launch). For CIDP, when patients miss their medication they get worse slowly but predictably. For MG it's different, as patients get a lot worse when they pause indication (worried about a severe flare). In other words, in MG patients are less likely to change drugs if current treatment is working well for them (thus the opportunity comes from people needing a new therapy and not from Vyvgart switches). CEO indicated that WAIHA program is still in the works but lower priority (sounds to me like they know they won't be able to catch up with competition). They feel confident in dose and effect size, but want to make sure they have a level of agreement with the FDA on trial design (potential improvements to be made) before moving forward (Rigel trial failed because of high placebo response). Hopefully they get that feedback from the FDA in the latter part of this year. Immunovant's prior WAIHA study was pretty small with five patients and only three of whom finished (data is suggestive but far from being solid). Corporate Slides Figure 5: Broad potential in autoimmune disease for FcRn inhibition (Source: corporate presentation) As for adding new programs, CEO is forthright in noting that some indications have more technical risk, while others have more commercial risk or competitive pressure. They are pursuing indications that have best combined probability of technical success and commercial potential based on unmet need and addressable population. Batoclimab can deliver deepest IgG reduction with simple subcutaneous device (well-suited to certain diseases versus other indications where they are alone but rationale is modest at best). As for the LDL signal and tolerability of the drug's profile, they've put in place a simple safety and monitoring program to execute in trials. As for indication selection, CEO states that primary driver of choice of medication will be efficacy (matters more than tolerability or route of administration). On this last point, I do not agree. For TED with fixed duration of therapy, there is less concern in regard to albumin and LDL. For MG with induction and maintenance therapy (higher dose is shorter), that's a good fit as well (again, highly competitive indication where I'm less inclined to degree). Thesis-Changing News On September 28th, Immunovant announced a novel anti-FcRn candidate, IMVT-1402. At first glance I would have thought share price would take a hit given this could be seen as an admission that lead candidate batoclimab lacks a future or will be a niche product at best. However, share price nearly doubled as the market focused on 1402's ability to offer best-in-class IgG reduction coupled with subcutaneous administration while lacking the tolerability issues of its predecessor (minimal or no impact on levels of albumin and LDL in animal studies). Management plans to accelerate development of this candidate with phase 1 trial to start in early 2023. Corporate Slides Figure 6: 1402 and batoclimab show similar maximal IgG reduction (Source: corporate presentation) Management spins this as having a combined franchise of drug candidates providing multiple paths to value creation, but again I think the ultimate plan is for 1402 to take over and batoclimab to quietly be swept under the rug at some point. Importantly, the new candidate is expected to have composition of matter protection through at least 2042. I do agree with the case they argue that patient level data from batoclimab could complement the strength of IgG as a biomarker and allow for accelerated development of 1402 directly into pivotal studies after phase 1 results come out. On the other hand, I think it's a stretch to state that batoclimab will allow for faster cash flow achieved by launch (to my eyes will be a cash burning asset due to tolerability concerns). corporate slides Figure 7: 1402 and placebo demonstrated similar albumin and LDL in head-to-head monkey study (Source: corporate presentation) In the associated investor day presentation from Roivant, management notes that IMVT-1402 can be accelerated into late-stage studies not only on the shoulders of batoclimab data, but also clinical results generated by the rest of the anti-FcRn class. Data timeline (to be reported in mid 2023) assumes FDA gives green light to the IND filing in early 2023 (potential risk factor as this could be pushed back). FcRn class is attractive from a franchise standpoint as IgG reduction is a well-established biomarker with over 10 clinical studies showing correlation between IgG lowering and clinical response. This increases the ability to apply learning across development programs for making decisions such as study design and disease selection. Heterogeneity across conditions treated means that different patients require varying degrees of IgG reduction to affect their disease (indications needing maximal reduction could be most appealing for developing IMVT-1402 in). In some cases a deep IgG reduction (ie 80%+) is needed for only a short period of time (12-week induction therapy or during four weeks of rescue therapy). In other cases, the need for deeper IgG reduction will be longer. Other Information For the quarter ended June 30th, the company reported cash and equivalents of $427M (does not include recent $75M financing). Net loss rose by about a third to $40.4M, while research & development expenses rose considerably to $28.4M. G&A costs came in slightly elevated at $11.9M, with management guiding for cash runway into 2025. Accumulated deficit since inception of over $355M seems reasonable based on where the pipeline has progressed to date and being founded four years ago. As for competitors in the space, consider that argenx has 15 indications commercially approved or in development for efgartigimod. Q2 sales for Vygart continue to be strong out of the gate at $75M, and three key data sets from pivotal studies are expected in 2023 (ITP, CIDP and PV). argenx slides Figure 8: Vygart well in the lead for a broad variety of indications with additional opportunities on deck (Source: argenx slides) Immunovant bulls argue that the company will have success as a fast follower, while bears/skeptics rightly point out just how far in front argenx is and how hard it could be for the small upstart to catch up to them (or show sufficient clinical differentiation to spur patient switches or change in physician practice for anti-FcRn naive patients). Also, keep in mind Johnson & Johnson (JNJ) continues full steam ahead with nipocalimab (acquired via Momenta Pharmaceuticals buyout with $6.5 billion price tag). On clinical trials gov website, I see seven studies evaluating nipocalimab that are currently recruiting patients across indications such as MG, CIDP, myositis, systemic lupus erythematosus, Sjogren's syndrome and WAIHA. On the prior call I touched on above, I liked how the analyst framed the landscape, noting that competitors are "running the table" right now (nice way of saying that Immunovant is way behind). Janssen's nipocalimab and argenx' efgartigimod put considerable pressure on Immunovant to catch up, but the CEO stated in higher risk rheumatology indications there can be an advantage to being second (learn from competitor data, what's working and elements of trial design). For other indications like MG where it's well established that anti-FcRn is an ideal approach, it's about getting to market as fast as they can (beachhead indication). Janssen is moving into RA, lupus and Sjogren's (potentially mediated by auto antibodies and immune complex, new area of biology that could be interesting for anti-FcRn). As for institutional investors of note, Deep Track Capital owns a 5.8% stake in the company. Previously I noted that in the recent financing, there was substantial participation from funds (Logos Capital, Deep Track Capital, Frazier Life Sciences, TCGX, BVF Partners, Commodore Capital and an undisclosed healthcare specialist fund). As for insiders, I see a lot of sales over the past year and just a few smaller purchases (not conviction-sized, just for optics it would seem). As for relevant leadership experience, CEO Peter Salzmann served prior as Global Development Leader in Immunology at Eli Lilly. CFO Renee Barnett also served prior at Lilly including as CFO of Lilly Austria and Switzerland. Chief Development Officer Julia Butchko served prior as Chief of Staff for the $4 billion Immunology and Neuroscience businesses at Lilly. Other members of management hail from the likes of Janssen, Bristol-Myers Squibb, Amgen and CSL Behring to name a few (I appreciate the depth of leadership team, which I consider a green flag). Moving on to executive compensation, the cash portion of salaries seems reasonable on the whole, though the total for CEO (including bonus) appears excessive to my eyes at nearly $900k. In certain cases below stock and especially option awards appear on the high side as well.

Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

Historical stock prices
Current Share Price	US$28.94
52 Week High	US$30.09
52 Week Low	US$13.52
Beta	0.70
1 Month Change	18.12%
3 Month Change	8.47%
1 Year Change	98.90%
3 Year Change	57.20%
5 Year Change	86.71%
Change since IPO	190.85%

	IMVT	US Biotechs	US Market
7D	3.9%	1.3%	2.2%
1Y	98.9%	42.0%	31.1%

IMVT volatility
IMVT Average Weekly Movement	6.6%
Biotechs Industry Average Movement	10.7%
Market Average Movement	7.3%
10% most volatile stocks in US Market	16.1%
10% least volatile stocks in US Market	3.2%

IMVT fundamental statistics
Market cap	US$5.89b
Earnings (TTM)	-US$464.20m
Revenue (TTM)	n/a

IMVT income statement (TTM)
Revenue	US$0
Cost of Revenue	US$0
Gross Profit	US$0
Other Expenses	US$464.20m
Earnings	-US$464.20m

Earnings per share (EPS)	-2.28
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	0%

Data	Last Updated (UTC time)
Company Analysis	2026/05/11 15:48
End of Day Share Price	2026/05/08 00:00
Earnings	2025/12/31
Annual Earnings	2025/03/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Brian Skorney	Baird
William Pickering	Bernstein
Jason Matthew Gerberry	BofA Global Research

Immunovant (IMVT) Stock Overview

Risk Analysis

Analyst Price Targets

FcRn Autoimmune Treatments Will Build Durable Long Term Potential For This Undervalued Biotech

FcRn Autoimmune Therapies Will Transform Long Term Prospects Backed By Strong Capital Support

Future FcRn Safety Demands And Pricing Pressure Will Constrain Long Term Prospects

Top Analyst Narratives

FcRn Autoimmune Treatments Will Build Durable Long Term Potential For This Undervalued Biotech

FcRn Autoimmune Therapies Will Transform Long Term Prospects Backed By Strong Capital Support

Future FcRn Safety Demands And Pricing Pressure Will Constrain Long Term Prospects

Looking to be second time lucky with a game-changing new product

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Price History & Performance

Recent News & Updates

Chief Financial Officer recently sold US$763k worth of stock

New minor risk - Insider selling

Immunovant: Best-In-Class Ambitions, Still Unproven

Future FcRn Safety Demands And Pricing Pressure Will Constrain Long Term Prospects

Immunovant, Inc. Announces Phase 3 Study Results for Batoclimab in Thyroid Eye Disease

FcRn Autoimmune Treatments Will Build Durable Long Term Potential For This Undervalued Biotech

Recent updates

Chief Financial Officer recently sold US$763k worth of stock

New minor risk - Insider selling

Immunovant: Best-In-Class Ambitions, Still Unproven

Future FcRn Safety Demands And Pricing Pressure Will Constrain Long Term Prospects

Immunovant, Inc. Announces Phase 3 Study Results for Batoclimab in Thyroid Eye Disease

FcRn Autoimmune Treatments Will Build Durable Long Term Potential For This Undervalued Biotech

FcRn Autoimmune Therapies Will Transform Long Term Prospects Backed By Strong Capital Support

Immunovant, Inc. to Report Q3, 2026 Results on Feb 06, 2026

Immunovant, Inc. has completed a Follow-on Equity Offering in the amount of $550.2 million.

Chief Medical Officer notifies of intention to sell stock

New minor risk - Insider selling

Chief Operating Officer recently sold US$298k worth of stock

Immunovant, Inc. Announces Cessation of Michael Geffner, M.D., M.B.A. as Chief Medical Officer, Effective November 21, 2025

Immunovant, Inc. to Report Q2, 2026 Results on Nov 10, 2025

Immunovant Unveils Durability and Treatment-Free Six-Month Remission Data with Potential to Change Treatment Paradigm for Uncontrolled Graves' Disease Patients

We're Hopeful That Immunovant (NASDAQ:IMVT) Will Use Its Cash Wisely

Price target decreased by 7.9% to US$41.57

Immunovant, Inc., Annual General Meeting, Aug 27, 2025

Immunovant, Inc. Announces CEO Changes

CEO & Director recently sold US$365k worth of stock

Immunovant,Inc. Reports Topline Results from Its Phase 3 Study of Batoclimab in MG and Initial Results from Period 1 of Its Phase 2B Study in CIDP

Immunovant: TED Data Sets Stage For Batoclimab Regulatory Filings Going Forward

Now 27% undervalued after recent price drop

CEO & Director recently sold US$322k worth of stock

New minor risk - Shareholder dilution

Immunovant, Inc. announced that it has received $450 million in funding from Roivant Sciences Ltd., FMR LLC, Fidelity Management & Research Company LLC

Immunovant, Inc. announced that it expects to receive $450 million in funding from Roivant Sciences Ltd. and other investors

Immunovant: Continued FcRn Targeting With IMVT-1402 Pivotal Study

CEO & Director recently sold US$425k worth of stock

Immunovant, Inc. Appoints Melanie Gloria as Chief Operating Officer, Effective November 18, 2024

Immunovant: Switching Lead Candidates Increases Risk

Immunovant, Inc. Provides Update on Graves' Disease Development Program

CEO & Director recently sold US$480k worth of stock

Consensus EPS estimates fall by 17%

Immunovant, Inc., Annual General Meeting, Aug 12, 2024

Immunovant: Next Generation Anti-FcRn Candidate Keeps Hopes Alive

CEO & Director recently sold US$479k worth of stock

CEO & Director recently sold US$990k worth of stock

Immunovant: Strategic Edge In The Autoimmune Sector (Rating Upgrade)

CEO & Director recently sold US$486k worth of stock

New major risk - Revenue and earnings growth

Immunovant: An Intriguing And Developing Story

Immunovant, Inc. Announces Results from the Initial Cohort of Patients in an Ongoing 24-Week Phase 2 Clinical Trial of Batoclimab in Patients with Graves' Disease Meaningfully Exceeded 50% Response Rates

Independent Director recently sold US$491k worth of stock

Independent Director notifies of intention to sell stock

Immunovant, Inc. Announces Initial Data from 600 Mg MAD Cohort of A Phase 1 Clinical Trial of IMVT-1402 in Healthy Adults

CEO & Director recently sold US$532k worth of stock

Immunovant, Inc. has filed a Follow-on Equity Offering in the amount of $150 million.

New minor risk - Shareholder dilution

New minor risk - Shareholder dilution

Immunovant, Inc. announced that it expects to receive $169.999992 million in funding from Roivant Sciences Ltd.

Immunovant, Inc. Announces Positive Initial IMVT-1402 Phase 1 SAD and 300 mg Subcutaneous MAD Results

Price target increased by 17% to US$34.42

CEO & Director recently sold US$1.3m worth of stock

Chief Financial Officer recently sold US$292k worth of stock