Slide 1: Financial Results and Business Update for the Quarter Ended December 31, 2025
Financial Results and Business Update for the Quarter Ended December 31, 2025 February 6, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements that are subject to substantial risks Non-GAAP Financial Information and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. All statements other than s
Slide 3: Agenda
Agenda Roivant in 2026 Brepocitinib: Positive Topline Results From BEACON Study in CS Additional Program Highlights Financial Update Q&A 3 For investor audiences only
Slide 4: Roivant in 2026
Roivant in 2026 e roivant LLL ZZ ZT IAF + ae eee
Slide 5: Continued Execution Following a Strong 2025
Continued Execution Following a Strong 2025 Immunovant Positive Ph2 $550M common Fully enrolled Fully enrolled results for stock financing Ph2b study for Ph2 study for extends cash brepocitinib in IMVT-1402 in mosliciguat in runway to GD CS D2T RA PH-ILD commercial launch Note: All drugs are investi
Slide 6: 2026: Another Catalyst-Rich Year for Roivant
Brepocitinib NIU Ph3 topline data expected in 2H 2026 Initiation of brepocitinib CS Ph3 trial expected in 2026 2026: Another Mosliciguat PH-ILD Ph2b topline data expected in Catalyst-Rich 2H 2026 Year for Roivant IMVT-1402 D2T RA potentially registrational topline data expected in 2H 2026 PoC toplin
Slide 7: High-Value Pipeline, Delivering Series of Near-Term Catalysts
High-Value Pipeline, Delivering Series of Near-Term Catalysts Phase 1 Phase 2 Registrational Approved Brepocitinib DM NDA filed NIU Topline data 2H 2026 CS Phase 3 program initiation 2026 FcRn Franchise TED Topline data 1H 2026 D2T RA Topline data 2H 2026 GD Topline data 2027 MG Topline data 2027 CI
Slide 8: BEACON Topline Results
BEACON Topline Results February 6, 2026 For investor audiences only
Slide 9: Highlights of Phase 2 BEACON Study in Cutaneous Sarcoidosis (CS)
Highlights of Phase 2 BEACON Study in Cutaneous Sarcoidosis (CS) Brepocitinib demonstrated highly compelling evidence of deep clinical benefit for patients with cutaneous sarcoidosis • Brepocitinib 45 mg achieved a placebo-adjusted improvement on mean CSAMI-A of 21.6 points (p<0.0001) • 100% of brep
Slide 10: CS: Urgency to Treat Due to Risk of Permanent Damage
CS: Urgency to Treat Due to Risk of Permanent Damage, Face and Scalp Involvement, and Psychosocial Impacts Unlike many common inflammatory skin diseases, inadequately treated cutaneous sarcoidosis can rapidly cause permanent scarring and destruction of bone, cartilage, and hair follicles Plaque cuta
Slide 11: Cutaneous Sarcoidosis Alone Includes Eligible Population of ~40,000 Patients
Cutaneous Sarcoidosis Alone Includes Eligible Population of ~40,000 Patients ~16K Minimal to no activity in other organs No approved therapies for cutaneous Brepocitinib Has the sarcoidosis Potential to Become ~40K the On-Label Therapy of Choice for All CS patients in the US1,2 ~24K Sarcoidosis Pati
Slide 12: JAK1/TYK2 Inhibition Targets Key Pathogenic Process in Sarcoidosis
JAK1/TYK2 Inhibition Distinctively Targets Key Pathogenic Process in Sarcoidosis: Polarization and Recruitment of Effector T Cells IL-6 JAK1/JAK1 Promotes Th17 Polarization IL-12 TYK2/JAK2 Promotes Th1 Polarization IFNγ JAK1/JAK2 Sustains and Recruits Th1 Effector T Cells Adapted from Grunewald et a
Slide 13: BEACON: Phase 2 Placebo-Controlled Study in Cutaneous Sarcoidosis
BEACON: Phase 2 Placebo-Controlled Eligible Patients Study Evaluating Brepocitinib in Cutaneous Sarcoidosis Skin disease activity: CSAMI-A ≥ 10 Permitted Background Therapy Oral IST, antimalarial, tetracycline antibiotic, and/or OCS 16-WEEK TREATMENT PERIOD Primary Endpoint BREPOCITINIB 45 MG QD (N
Slide 14: Baseline Demographics & Disease Activity
Baseline Demographics & Disease Activity 45 mg arm was most treatment-refractory group with longstanding disease, high damage, and high rates of plaque- predominant morphology Brepocitinib 45 mg Brepocitinib 15 mg Placebo (n = 13) (n = 11) (n = 7) Mean Age (years) (± SD) 53.7 (8.14) 49.4 (11.57) 58.
Slide 15: Brepocitinib Achieved Rapid, Deep, Sustained Benefit on CSAMI-A
Brepocitinib Achieved Rapid, Deep, Sustained Benefit on CSAMI-A CFB and IGA Clear/Almost Clear Mean CSAMI-A Achievement of IGA 0/1 and Change from Baseline ≥ 2-Point Reduction Study Week 0 4 8 12 16 80% 0 * -0.7 69% Mean Change from Baseline (± SE) * Percentage of Participants -5 MCID 60% * 55% 45 m
Slide 16: 100% CSAMI-A Response Rate In Brepocitinib 45 mg Arm
100% CSAMI-A Response Rate In Brepocitinib 45 mg Arm All 45 mg participants achieved ≥ 10-point CSAMI-A improvement (2x minimum clinically important difference) and 62% achieved functional remission Achievement of CSAMI-A Achievement of CSAMI-A < 5 ≥ 10-point Reduction at Week 16 (Functional Remissi
Slide 17: Skindex-16 Shows Substantial Improvements in Health-related Quality of Life
Skindex-16 Shows Substantial Improvements in Health-related Quality of Life Skindex-16 Overall Score Mean Reduction from Baseline to Week 16 Skindex-16 assesses health-related QoL 45 mg vs. Placebo: ∆ 32; P=0.0027 16 items in 3 domains: Symptoms Itching, Burning, Pain, Irritation 9 Emotions Persiste
Slide 18: KSQ-Skin Domain Shows Substantial Improvements in Skin-Related Health Status
KSQ-Skin Domain Shows Substantial Improvements in Skin-Related Health Status KSQ-Skin Domain Mean Change from Baseline to Week 16 Range: 0 (worst) to 100 (best) 45 mg vs. Placebo: ∆ 33; P=0.0054 Improvement KSQ assesses impact of CS on health status How much skin disease bothers the patient How much
Slide 19: Patient Global Impression of Change Shows Dose-Dependent Improvements
Patient Global Impression of Change (PGI-C) Show Dose-Dependent Improvements Patient Global Impression of Change: Improved from Baseline At Week 16 45 mg vs. Placebo: ∆ 71%; P=0.0014 PGI-C Asks Patients One Question: “Since you started taking study medication, how would you describe the overall ch
Slide 20: Brepocitinib Was Well-Tolerated, with No SAEs
Brepocitinib Was Well-Tolerated During Treatment Period, with No SAEs and All AEs Graded Mild or Moderate In Severity Brepocitinib 45 mg QD Brepocitinib 15 mg QD Placebo (N=13) (N=11) (N=7) Participants with: Adverse Events (AEs) 12 (92%) 6 (55%) 6 (86%) Death 0 0 0 AEs graded as severe 0 0 0 Seriou
Slide 21: Concluding Thoughts
Concluding Thoughts • Compelling evidence of clinical benefit in a disease with no approved therapies • Brepocitinib demonstrated rapid onset of action and sustained benefit on CSAMI-A at every timepoint measured • More than two thirds of brepocitinib 45 mg patients achieved IGA clear/almost clear w
Slide 22: Brepocitinib Poised to Address >150K Patients With Continuous Catalyst Flow
Brepocitinib Poised to Address >150K Patients With Continuous Catalyst Flow Over the Next 12-24 Months Cutaneous Sarcoidosis Potential sNDA Approval Non-Infectious Uveitis Potential sNDA Approval Cutaneous Sarcoidosis Ph3 Ongoing Non-Infectious Uveitis Additional Ph3 Topline Data (2H 2026) Indicatio
Slide 23: Additional Program Highlights
Additional Program Highlights
Slide 24: IMVT-1402 Highlights
IMVT-1402 Highlights EXPLORE Phase 3 Study in D2T RA Now Fully Enrolled (N = 170 versus anticipated 120) Potential Best-in-Class Efficacy Favorable Safety Profile IMVT-1402 achieves deep, rapid, dose- No significant expected safety dependent IgG reductions; consistent evidence issues based on data t
Slide 25: Mosliciguat Highlights
Mosliciguat Highlights PHocus Phase 2 Study in PH-ILD Now Fully Enrolled PH-ILD MOSLICIGUAT Target delivery to the lungs with Lung is the primary site of the disease deep lung deposition1 High dosing burden with multiple 1x day Convenient once-daily dosing daily inhalations Current therapies are poo
Slide 26: Pivotal Period for LNP Litigation
Pivotal Period for LNP Litigation Moderna Cases Pre-trial process to narrow scope of claims and defenses Favorable summary judgment decision First major international US jury trial scheduled for in U.S. Moderna case affirms hearings expected in Genevant's view of section 1498: March 9, 2026 1H 2026
Slide 27: Financial Update
Financial Update e roivant LLL ZZ ZT IAF + ae eee
Slide 28: Key Financial Items
Key Financial Items Select Income Statement Metrics and Non-GAAP Select Balance Sheet Metrics Metrics for the Three Months Ended as of December 31, 2025 December 31, 2025 • R&D expense of $165M; adjusted R&D expense of • Cash, cash equivalents, restricted cash and $147M (non-GAAP) marketable securit
Slide 29: Non-GAAP Disclosures
Non-GAAP Disclosures Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited, in thousands) Three Months Ended December Three Months Ended December 31, 31, Note 2025 2024 Note 2025 2024 Loss from continuing operations, net of tax $ (313,701) $ (208,945) Research and development expenses $ 1
Slide 30: 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 LNP platform Jury trial in US Moderna case March 2026 Brepocitinib Expected NDA filing for brepoci
Slide 31: Over the Next 36 Months, Roivant Will Execute on…
Over the Next 36 Months (by End of CY 2028), Roivant Will Execute on… 3+ brepocitinib DM NIU 4+ brepocitinib DM NIU Commercial NDA/BLA Launches IMVT-1402 GD Filings* IMVT-1402 GD MG Across 7+ Indications Across 3+ Indications 9+ NIU CS MG CIDP 3+ PH-ILD CLE Pivotal Study POC Study Readouts GD SjD D2
Slide 32: Thank you.
Thank you. roivant