NASDAQ$IMVT
Immunovant Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Immunovant reported financial results and provided corporate updates.
Immunovant reported a net loss of $51.4 million for the quarter ended December 31, 2023, with R&D expenses of $48.3 million and cash and cash equivalents totaling $691 million. The company is advancing its clinical programs for IMVT-1402 and batoclimab, with plans to initiate multiple registrational programs for IMVT-1402 and key data readouts expected from batoclimab trials in neurology in 2024.
- Immunovant plans to initiate 4-5 potentially registrational programs for IMVT-1402 over the next fiscal year.
- Trials in 10 indications for IMVT-1402 are planned over the next two fiscal years.
- Initial period 1 data from the Phase 2b clinical trial of batoclimab in CIDP are expected in the second or third quarter of calendar year 2024.
- Global Phase 3 clinical trials of batoclimab in MG and TED are progressing and on track for expected top-line data in the second half of calendar year 2024 (MG) and the first half of calendar year 2025 (TED).
Headline financials
Revenue & EPS history
Immunovant · Revenue · Quarterly
$0
Forward guidance
Immunovant is focused on advancing its clinical programs for IMVT-1402 and batoclimab, with key data readouts expected in the near term and plans to initiate multiple registrational programs for IMVT-1402.
Tailwinds
- IMVT-1402 showed a potentially best-in-class profile in a Phase 1 clinical trial.
- Immunovant plans to initiate 4-5 potentially registrational programs for IMVT-1402 over the next fiscal year.
- Trials in 10 indications for IMVT-1402 are planned over the next two fiscal years.
- Response rates from an initial cohort of patients in an open-label Phase 2 proof-of-concept clinical trial of batoclimab in Graves’ disease were meaningfully higher than 50 percent.
- Global Phase 3 clinical trials of batoclimab in MG and TED are progressing and on track for expected top-line data.
Headwinds
- The timing and results of clinical trials are subject to uncertainty.
- The development and commercialization of batoclimab and IMVT-1402 are heavily dependent on successful clinical trials and regulatory approvals.
- Immunovant 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, could affect Immunovant’s business operations and supply chain.
- Immunovant is at an early stage of development for IMVT-1402 and in various stages of clinical development for batoclimab.
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 Q3 2024
+0.6%
Avg return
Earnings day
-1.7%
Avg return
5 days after
+2.2%
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% | — | — | |
| 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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