Business
Roivant Sciences Reports Financial Results for the Second Quarter Ended September 30, 2022 and Provides Business Update
Expected cash runway extended into the second half of calendar year 2025First major PBM/payer contract signed for VTAMA, effective October 1Over 54,000 VTAMA
About this update from Roivant Sciences Ltd.
[{"type":"text","content":"Expected cash runway extended into the second half of calendar year 2025First major PBM/payer contract signed for VTAMA, effective October 1Over 54,000 VTAMA prescriptions written by approximately 6,400 prescribers since launch show strong demand, with fiscal Q2 2022 net product revenue of $5.0 millionUnveiled IMVT-1402, a next generation anti-FcRn which showed deep IgG lowering similar to batoclimab with no or minimal impact observed on albumin and LDL (low-density lipoprotein) levels in animal studiesCompleted enrollment for potentially registrational trial for brepocitinib in systemic lupus erythematosus (SLE), with topline data on track to be announced in the second half of calendar year 2023Federal court denied Moderna’s partial motion to dismiss Genevant and Arbutus’s pending IP infringement suit BASEL, Switzerland and LONDON and NEW YORK and BOSTON, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Roivant Sciences Ltd. (Nasdaq: ROIV) today reported its financial results for the second quarter ended September 30, 2022 and provided an update on the Company’s operations. Roivant’s chief executive officer, Matt Gline, noted: “This has been a great quarter for Roivant. In addition to VTAMA’s strong performance and the enthusiastic feedback we’ve received from patients and providers, we executed our first major PBM contract. This provides immediate coverage for millions of lives associated with that PBM, establishes a national template for unrestricted access to VTAMA, and supports a paradigm shift to VTAMA as the mainstay of psoriasis therapy. Our fully enrolled potentially registrational SLE study for brepocitinib, which reads out next year, and Immunovant’s broadened anti-FcRn portfolio, represent notable progress in our immunology pipeline. Between cost reduction and multiple recent infusions of capital, we’ve extended our runway into the second half of calendar year 2025 – and we’re looking forward to multiple key catalysts between now and then, including many in the next year.” Recent Developments Roivant: On November 8, priced $150 million total gross primary and secondary offering, consisting of gross primary proceeds to Roivant of $100 million. Roivant continued its cost optimization and pipeline reprioritization initiatives initially announced in June 2022 in order to focus capital on the most valuable and meaningful opportunities i...