Immunovant posts $153M net loss as R&D spending climbs in fiscal Q1

Immunovant (Nasdaq: IMVT) reported a net loss of $153.2 million, or $0.75 per share, for its fiscal first quarter ended June 30, 2026, compared with a net loss of $120.6 million, or $0.71 per share, in the same period a year earlier, according to a company press release.

Research and development expenses rose to $142.6 million from $101.2 million in the prior-year quarter, driven by clinical trial activity for IMVT-1402, including contract manufacturing costs, partially offset by reduced spending as the company winds down its batoclimab program. General and administrative expenses fell to $17.7 million from $26.0 million, reflecting lower personnel, professional fees, and technology costs.

Cash and cash equivalents stood at $797.8 million as of June 30, 2026, down from $902.1 million at March 31, 2026. The company said its current cash position is sufficient to fund operations through a potential commercial launch of IMVT-1402 in Graves' disease.

Immunovant said clinical development timelines for IMVT-1402 remain on track across six indications: Graves' disease, myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, difficult-to-treat rheumatoid arthritis, Sjögren's disease, and cutaneous lupus erythematosus. The company expects to update its rheumatoid arthritis program and report proof-of-concept data for cutaneous lupus in the second half of calendar year 2026. Topline data from potentially registrational trials in Graves' disease and myasthenia gravis are anticipated in 2027, with data from chronic inflammatory demyelinating polyneuropathy and Sjögren's disease trials expected in 2028.

As of June 30, 2026, there were 206,264,878 shares of common stock issued and outstanding. Immunovant is a majority-owned subsidiary of Roivant Sciences (Nasdaq: ROIV).

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