Slide 1: Financial Results and Business Update for the Quarter Ended June 30, 2025
Financial Results and Business Update for the Quarter Ended June 30, 2025 August 11, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements that are subject to substantial risks characteristics and caution should be exercised when comparing data across studies. Data and uncertainties that could cause actual results to differ materially from those expressed
Slide 3: Agenda
Agenda Roivant in 2025 Brepocitinib Updates LNP Litigation Financial Update Q&A 3 For investor audiences only
Slide 4: Roivant in 2025
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Slide 5: Roivant in 2025: Transformational Potential
Roivant in 2025: Transformational Potential Validate IMVT-1402 First- Registrational Advance LNP Litigation /Best-in-Class Potential Dermatomyositis (DM) with Moderna and Readout Sets Stage for Pfizer/BioNTech Commercial Launch of Brepocitinib Bato MG & CIDP data further Summary judgment phase valid
Slide 6: Robust Late-Stage Pipeline with Registrational Trials in Indications with Blockbuster Potential
Robust Late-Stage Pipeline with 11 Registrational Trials in Indications with Blockbuster Potential Focusing on Clinical Trial Execution to Drive Significant Potential Value Modality Proof of Concept Registrational Status Topline expected BREPOCITINIB Dermatomyositis | Priovant Small Molecule 2H 2025
Slide 7: Upcoming Brepocitinib Data in DM Kicks Off Months Stacked with Potential Readouts and Launches
Upcoming Brepocitinib Data in DM Kicks Off 36 Months Stacked with Potential Readouts and Launches Brepocitinib Registrational Data Readouts IMVT-1402 Registrational CIDP Data Readouts SjD GD Launch of IMVT-1402 in Multiple MG Potential Blockbuster Indications D2T RA NIU Launch of Brepocitinib in NIU
Slide 8: Completed $1.5BN Share Repurchase Program in June 2025
Completed $1.5BN Share Repurchase Program in June 2025 Reduced Share Repurchased ~149M shares at an average price of $10.09, reducing share Count count by >15%1 Executed on Organic In same period, expanded pipeline with the initiation of 6 potentially Growth registrational studies and 3 POC studies
Slide 9: Continued Development Progress Across Pipeline
Continued Development Progress Across Pipeline Advancing Brepocitinib Across Indications • Completed last patient last visit in July for VALOR, a global Phase 3 study of brepocitinib in dermatomyositis; topline data expected 2H 2025 • Rapidly enrolling potentially registrational trials in non-infect
Slide 10: Brepocitinib Updates
Brepocitinib Updates roivant
Slide 11: Rapid Expansion of Brepocitinib Program into Multiple Orphan Immunological Conditions
Rapid Expansion of Brepocitinib Program into Multiple Orphan Immunological Conditions with Well Established Safety Profile Across >1,500 Patients Roivant’s Rapid Expansion of Brepocitinib Seven Positive Phase 2 Studies Brepocitinib Study Population N1 Priovant Dose Pfizer SLE Ph2b Initiated establis
Slide 12: Brepocitinib Could Redefine SoC for Patients with Dermatomyositis (DM)
Brepocitinib Could Redefine SoC for Patients with Dermatomyositis (DM) • Dermatomyositis is a chronic inflammatory disease of the skin and muscles that affects >40K US adults; DM skin and muscle disease is debilitating to DM is a debilitating patients’ quality of life disease with significant unmet
Slide 13: VALOR: A Single Phase 3 Study of Brepocitinib in Adults with Dermatomyositis
VALOR: A Single Phase 3 Study of Brepocitinib in Adults with Dermatomyositis Pivotal study fully enrolled with topline data expected 2H 2025 Double-blind treatment (52 weeks) Open-label extension (52 weeks) Brepocitinib 30 mg QD Adults with Primary Endpoint • 30 mg vs placebo mean Total 1:1:1 Random
Slide 14: VALOR Pooled/Blinded Baseline Characteristics, Compared to ProDERM
VALOR Pooled/Blinded Baseline Characteristics, Compared to ProDERM (IVIg Phase 3 Trial) Pooled VALOR enrolled similar patient population, with modestly higher proportion of patients having severe disease VALOR (N = 241) ProDERM1 (N = 95) Disease Activity (by Physician Global Activity) Mild 45 (19%)
Slide 15: Steroid Tapering Was A Key Focus of VALOR Study
Steroid Tapering Was A Key Focus of VALOR Study All clinical improvement demonstrated in VALOR results will be against the backdrop of significant reductions in harmful steroid exposure Among Subjects Taking OCS at Baseline Without ICE Protocol Requirements Baseline End of Study1 Mean OCS Dose • Man
Slide 16: Increasing Pharma Recognition of Commercial Opportunity in DM with Brepocitinib
Increasing Pharma Recognition of Commercial Opportunity in DM with Brepocitinib Well Ahead of the Pack and Only Oral Option in Phase 3 Brepocitinib Dazukibart Efgartigimod Anifrolumab Phase 3 Top Line Readout* 2H 2025 2H 2026 2H 2026 1H 2027 Route of Administration Oral IV SC SC Phase 2 DM Clinical
Slide 17: Brepocitinib: Expected Upcoming Events
Brepocitinib: Expected Upcoming Events Topline data VALOR study Proof of Concept readout from readout for data from CS pivotal study in brepo in DM study NIU 2H Early 2H Early 1H 2H 2025 2026 2026 2027 2027 2027 Potential Potential Potential brepo regulatory filing regulatory filing approval and of
Slide 18: LNP Litigation
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Slide 19: Pivotal Period for LNP Litigation
Pivotal Period for LNP Litigation Moderna Cases Pre-trial process to narrow scope US jury trial scheduled for First major international of claims and defenses March 2026 hearings expected in 1H 2026 Summary judgment phase ongoing Pfizer Case Ongoing progress in discovery phase Markman hearing held i
Slide 20: Summary Judgment Motions Filed in US Moderna Case
Summary Judgment Motions Filed in US Moderna Case Genevant and Arbutus Filed 3 Motions for Summary Judgment Moderna Filed 3 Motions for Summary Judgment 1. Moderna cannot relitigate obviousness arguments against the 1. 28 U.S.C. § 1498 requires Arbutus and Genevant to recover Lipid Composition Paten
Slide 21: Financial Update
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Slide 22: Key Financial Items
Key Financial Items Select Income Statement Metrics and Non-GAAP Select Balance Sheet Metrics Metrics for the Three Months Ended June 30, 2025 as of June 30, 2025 • R&D expense of $153M; adjusted R&D expense of • Cash, cash equivalents, restricted cash and $141M (non-GAAP) marketable securities of $
Slide 23: Non-GAAP Disclosures
Non-GAAP Disclosures Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited, in thousands) Three Months Ended June 30, Three Months Ended June 30, Note 2025 2024 Note 2025 2024 Loss from continuing operations, net of tax $ (273,911) $ (31,603) Research and development expenses $ 152,919 $
Slide 24: Rich Catalyst Calendar
Rich Catalyst Calendar Program Vant Catalyst Expected Timing Roivant pipeline growth New mid/late-stage in-licensing announcements Ongoing LNP platform Summary judgment phase in US Moderna case Ongoing Batoclimab Additional data in Graves’ disease including 6-month remission data September 2025 Brep
Slide 25: Thank you.
Thank you. roivant