JPMorgan's Take on Roivant Sciences (ROIV) Buyback and Positive Data Annoucement

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Go back to JPMorgan's Take on Roivant Sciences (ROIV) Buyback and Positive Data Annoucement

Roivant Announces Positive NEPTUNE Study Results for Brepocitinib in NIU, as well as Board Authorization for up to $1.5 Billion Share Repurchase Program, Including Repurchase of Entire Sumitomo Pharma

April 2, 2024 7:00 AM EDT

Roivants board of directors has approved a share repurchase program for up to $1.5 billion of the companys common shares, including an agreed repurchase of the entire Sumitomo Pharma stake for $648 millionSumitomo Pharma repurchase reduces shares outstanding by 9%In the Phase 2 NEPTUNE study of once-daily oral brepocitinib in non-infectious uveitis (NIU), the 45 mg results represent the best Treatment Failure rates observed to date among active NIU studies measuring this registrational endpoint29% of subjects receiving brepocitinib 45 mg and 44% of subjects receiving brepocitinib 15 mg met the pre-specified primary... More