Business
Roivant Reports Financial Results for the First Quarter Ended June 30, 2024, and Provides Business Update
BASEL, Switzerland and LONDON and NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Roivant (Nasdaq: ROIV) today reported its financial results for the first
About this update from Roivant Sciences Ltd.
[{"type":"text","content":"BASEL, Switzerland and LONDON and NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Roivant (Nasdaq: ROIV) today reported its financial results for the first quarter ended June 30, 2024, and provided a business update. Immunovant completed enrollment in batoclimab pivotal myasthenia gravis (MG) trial; topline results and initiation of a potentially registrational program in MG for IMVT-1402 on track for fiscal year end (March 31, 2025)Brepocitinib development in non-infectious uveitis (NIU) is progressing to Phase 3 following a successful end of Phase 2 meeting with the FDA Brepocitinib Phase 3 VALOR study enrollment in dermatomyositis (DM) is complete and on track to report topline data in 2H 2025; VALOR is the largest interventional DM trial ever conducted with 241 subjects enrolled across 90 sites on four continentsVTAMA net product revenue was $18.4M for the first quarter ended June 30, 2024, with over 430,000 prescriptions written by approximately 16,000 unique prescribers since launchRoivant reported its consolidated cash, cash equivalents and restricted cash of $5.7B at June 30, 2024, following a $648M share repurchase announced in April 2024, and not including a $110M milestone payment received in August 2024 related to the previously announced sale of Telavant, which closed in December 2023 “This continues to be a year of investing, building, and clinical execution for Roivant. We completed enrollment in a major Phase 3 trial at each of Immunovant and Priovant with the batoclimab trial in MG and the brepocitinib trial in DM, respectively,” said Matt Gline, CEO of Roivant. “We are entering a dense period of meaningful clinical data in the coming months, particularly for our anti-FcRN franchise. We are also continuing to evaluate a number of promising additions to our pipeline, and we look forward to unveiling one such program next month.” Recent Developments Immunovant: In August 2024, Immunovant announced completion of enrollment in batoclimab pivotal MG trial. Priovant: In June 2024, Priovant completed an end of Phase 2 meeting with the FDA and will progress brepocitinib to a Phase 3 program in NIU; detailed trial design will be shared at a later date. In July 2024, Priovant announced completion of enrollment in VALOR, a global Phase 3 study of brepocitinib in DM. The study enrolled 241 subjects across 90 sites on four conti...