Roivant Sciences Ltd

Immunovant reported a cash balance of $797.8 million as of June 30, 2026, which management stated provides a runway to the potential commercial launch of IMVT-1402 in Graves' disease. Research and development expenses were $142.6 million for the quarter, compared to $101.2 million in the prior year, primarily due to increased clinical trial activities for IMVT-1402 and contract manufacturing costs. The company reported a net loss of $153.2 million, or $0.75 per common share, for the three months ended June 30, 2026, and a non-GAAP net loss of $139.4 million excluding $13.8 million in non-cash stock-based compensation. Management expects topline data from the proof-of-concept trial in cutaneous lupus erythematosus in the second half of 2026, and topline data for the potentially registrational trials in Graves' disease and myasthenia gravis in calendar year 2027. Roivant, the parent company, received an upfront payment of $950 million from the Moderna settlement, with $770 million allocated to Genevant and the remainder to Arbutus, and reported a cash balance of just under $4 billion prior to the receipt of the Moderna settlement funds.

Roivant Sciences reported first-quarter fiscal 2026 R&D expenses of approximately $200 million and a GAAP G&A expense of $166 million, while its cash position stood at just under $4 billion before receiving a $772 million settlement payment from Moderna. The company received the initial $950 million upfront payment, with approximately $770 million allocated to Genevant and the remainder to Arbutus. Roivant also repurchased approximately $200 million in shares during the quarter at an average price in the high $20s. The company initiated a Phase 3 study in cutaneous sarcoidosis for brepocitinib ahead of schedule and is on track for a potential launch of brepocitinib in dermatomyositis by the end of September.

Arbutus Biopharma and Genevant Sciences, a subsidiary of Roivant Sciences, have filed three international lawsuits against Pfizer and BioNTech over lipid nanoparticle technology used in the COVID-19 vaccine Comirnaty. The actions include a case in the Federal Court of Canada alleging infringement of Canadian Patent No. 2,721,333, and two lawsuits in the Unified Patent Court concerning European patents EP 4 241 767 and EP 4 495 237. The plaintiffs are seeking permanent injunctions and damages, and the new filings expand a legal battle that already includes a 2023 U.S. lawsuit over five related patents. In March, Moderna agreed to pay $950 million to settle a similar dispute with Arbutus and Genevant, and Arbutus confirmed receipt of $178 million from Moderna on July 8 under that settlement.

Roivant Sciences reported its financial results for the fourth quarter and full fiscal year 2026, ending with $4.3 billion in consolidated cash and marketable securities. The company also announced a $2.25 billion global settlement with Moderna, resolving pending patent-infringement litigation. In its clinical portfolio, Roivant reported positive results for IMVT-1402 in difficult-to-treat rheumatoid arthritis, with further updates expected later this year. Brepocitinib received Breakthrough Therapy Designation for cutaneous sarcoidosis, and its commercial launch for dermatomyositis is scheduled for late September 2026. Topline data for several other programs, including studies in non-infectious uveitis and pulmonary hypertension, are anticipated in the second half of 2026.