NASDAQ$IMVT
Immunovant Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Immunovant's financial results for Q1 2023 were reported, with a focus on advancing clinical programs and the progress of IMVT-1402 and batoclimab.
Immunovant reported a net loss of $73.9 million for the quarter ended June 30, 2023. The company's cash and cash equivalents totaled $330.0 million, expected to fund operations into the second half of calendar year 2025. The company is advancing clinical trials for Batoclimab and IMVT-1402.
- Phase 1 clinical trial of IMVT-1402 on track for initial data in September/October-November 2023.
- Phase 2 proof-of-concept data for batoclimab in Graves’ disease expected in Q4 2023.
- Global clinical trials of batoclimab are ongoing in myasthenia gravis, thyroid eye disease, and chronic inflammatory demyelinating polyneuropathy.
- Cash and cash equivalents totaled $330.0 million as of June 30, 2023, expected to fund operations into the second half of calendar year 2025.
Headline financials
Revenue & EPS history
Immunovant · Revenue · Quarterly
$0
Forward guidance
Immunovant expects to continue advancing its clinical programs for batoclimab and IMVT-1402, with data readouts expected in the coming quarters.
Tailwinds
- Initial data from the Phase 1 clinical trial of IMVT-1402 is on track for September 2023 (single-ascending dose) and October/November 2023 (multiple-ascending dose).
- Phase 2 proof-of-concept data for batoclimab in Graves’ disease (GD) expected in the fourth quarter of 2023.
- Top-line data from the Phase 3 clinical trial in MG are expected in the second half of calendar year 2024.
- For the Phase 3 program in TED, top-line data are expected in the first half of calendar year 2025.
- Initial results from period 1 of the Phase 2b clinical trial in CIDP in the first half of calendar year 2024.
Headwinds
- Clinical trial results are subject to uncertainty and may not be predictive of future results.
- The company is at an early stage in the development of IMVT-1402 and in various stages of clinical development for batoclimab.
- The company will require additional capital to fund its operations and advance batoclimab and IMVT-1402 through clinical development.
- The potential impact of global factors, such as the post-COVID-19 environment, geopolitical tensions, and adverse macroeconomic conditions on Immunovant’s business operations and supply chain, including its clinical development plans and timelines.
- Immunovant’s business is heavily dependent on the successful development, regulatory approval and commercialization of batoclimab and IMVT-1402.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+0.6%
Avg return
Earnings day
-0.6%
Avg return
5 days after
+3.3%
Avg return
30 days after
54%
15 / 28 earnings
Positive
+35.1%
Q4 2027
Best reaction
-34.6%
Q4 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2027 | +35.1% | +29.9% | +34.5% | |
| Q3 2026 | +12.4% | +7.8% | +10.8% | |
| Q2 2026 | +0.0% | +1.7% | +0.9% | |
| Q1 2026 | -4.5% | -1.6% | +4.8% | |
| Q4 2025 | -0.2% | +3.0% | +8.1% | |
| Q3 2025 | -9.6% | -14.1% | -11.1% | |
| Q2 2025 | -2.5% | -6.8% | -8.9% | |
| Q1 2025 | +1.0% | +9.4% | +25.9% | |
| Q4 2024 | -7.1% | -11.3% | -7.1% | |
| Q3 2024 | +4.0% | +4.6% | -10.4% | |
| Q2 2024 | -2.3% | +4.7% | +17.4% | |
| Q1 2024 | +7.4% | -1.9% | +11.5% | |
| Q4 2023 | +4.9% | -0.8% | -5.1% | |
| Q3 2023 | +0.7% | +2.0% | -6.9% | |
| Q2 2023 | +6.3% | -2.1% | +23.2% | |
| Q1 2023 | +19.4% | +24.7% | +23.7% | |
| Q4 2022 | -12.6% | -20.4% | +0.2% | |
| Q3 2022 | -2.7% | -2.5% | -8.8% | |
| Q2 2022 | +1.1% | -0.3% | -12.8% | |
| Q1 2022 | +4.4% | +1.7% | +15.5% | |
| Q4 2021 | -34.6% | -34.5% | -25.0% | |
| Q3 2021 | -13.6% | -18.6% | -25.0% | |
| Q2 2021 | +3.1% | +7.3% | -4.0% | |
| Q1 2021 | +3.7% | +2.3% | +40.2% | |
| Q4 2020 | -11.0% | -13.5% | -14.2% | |
| Q3 2020 | +12.5% | +13.2% | +1.3% | |
| Q2 2020 | +0.1% | +0.1% | +13.9% | |
| Q1 2020 | +0.0% | +0.0% | +0.6% | |
| Q3 2019 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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