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Immunovant Reports Financial Results and Provides Corporate Updates for the Quarter Ended June 30, 2023
Initial data from the Phase 1 clinical trial of IMVT-1402 on track for September 2023 (single-ascending dose) and October/November 2023 (multiple-ascending
About this update from Immunovant, Inc.
[{"type":"text","content":"Initial data from the Phase 1 clinical trial of IMVT-1402 on track for September 2023 (single-ascending dose) and October/November 2023 (multiple-ascending dose) Phase 2 proof-of-concept data for batoclimab in Graves’ disease (GD) expected in the fourth quarter of 2023Global clinical trials of batoclimab are ongoing in myasthenia gravis (MG), thyroid eye disease (TED), and chronic inflammatory demyelinating polyneuropathy (CIDP) NEW YORK, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today reported corporate updates and financial results for its fiscal first quarter ended June 30, 2023. “Our strategic priority this past quarter was to advance our robust clinical programs. To that end, we are pleased that our Phase 1 clinical trial of IMVT-1402 is on schedule to deliver initial data in the coming months, and we look forward to sharing these key first-in-human results with all stakeholders,” said Pete Salzmann, M.D., chief executive officer at Immunovant. Clinical Development Updates:Batoclimab:Immunovant is studying batoclimab, the company’s lead subcutaneously administered FcRn inhibitor, in four autoimmune indications – MG, TED, CIDP and GD. Top-line data from the Phase 3 clinical trial in MG are expected in the second half of calendar year 2024. For the Phase 3 program in TED, top-line data are expected in the first half of calendar year 2025. Immunovant also expects to have initial results from period 1 of the Phase 2b clinical trial in CIDP in the first half of calendar year 2024, and initial Phase 2 proof-of-concept data in GD in the fourth quarter of calendar year 2023. IMVT-1402:The Phase 1 clinical trial evaluating the safety, tolerability, and pharmacodynamic profiles of IMVT-1402 in healthy volunteers is progressing. IMVT-1402 is Immunovant’s next-generation FcRn inhibitor with a simple subcutaneous formulation. Initial data from the single-ascending dose cohorts are on track for September 2023 and initial data from the multiple-ascending dose cohorts are expected in October/November 2023. Financial Highlights for Fiscal First Quarter Ended June 30, 2023:Cash Position: As of June 30, 2023, Immunovant’s cash and cash equivalents totaled $330.0 million, which is expected to fund operations into...