NASDAQ$ROIV
Roivant Sciences Ltd · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Roivant reported financial results and provided a business update.
Roivant reported a net income of $5.1 billion for the quarter ended December 31, 2023, driven by the sale of Telavant to Roche for $7.1 billion. VTAMA net product revenue was $20.7 million. The company's consolidated cash, cash equivalents, and restricted cash stood at $6.7 billion as of December 31, 2023.
- Roivant completed the sale of Telavant to Roche for $7.1B with an additional $150M in cash payable upon the completion of a near-term milestone.
- Batoclimab produced positive results in Graves’ disease with response rates meaningfully exceeding 50% in the initial cohort of an ongoing 24-week Phase 2 trial.
- VTAMA® (tapinarof) cream, 1% net product revenue was $20.7M for the quarter ended December 31, 2023, with over 300,000 prescriptions written by approximately 14,000 unique prescribers since launch.
- Roivant reported its consolidated cash, cash equivalents and restricted cash of $6.7B at December 31, 2023, supporting cash runway into profitability.
Headline financials
Revenue & EPS history
Roivant Sciences · Revenue · Quarterly
$37.1M
Forward guidance
Roivant anticipates multiple clinical data readouts and catalysts in 2024, with a focus on expanding the clinical pipeline.
Tailwinds
- Immunovant expects initial results from period 1 of the Phase 2b clinical trial of batoclimab in CIDP in the second or third quarter of calendar year 2024.
- Top-line data from the Phase 3 clinical trials of batoclimab in MG and TED are on track and expected in the second half of calendar year 2024 and the first half of calendar year 2025, respectively.
- Immunovant plans to initiate 4-5 potentially registrational programs for IMVT-1402 by March 31, 2025 and plans to initiate trials in 10 indications by March 31, 2026.
- Priovant expects to announce topline results from the Phase 2 POC study in non-infectious uveitis (NIU) in the first quarter of calendar year 2024.
- Dermavant plans to submit its sNDA for VTAMA in atopic dermatitis to the FDA in the first quarter of calendar year 2024.
Headwinds
- Hemavant discontinued the development of RVT-2001 after an interim data analysis from the Phase 1/2 study.
- Potential delays in clinical trial timelines.
- Uncertainties in regulatory approvals.
- Risks associated with commercializing new products.
- Competition from other biopharmaceutical companies.
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
+3.3%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+0.4%
Avg return
30 days after
60%
12 / 20 earnings
Positive
+22.1%
Q3 2026
Best reaction
-5.5%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +14.9% | — | — | |
| Q3 2026 | +22.1% | +26.8% | +36.1% | |
| Q2 2026 | +2.6% | -1.6% | -1.8% | |
| Q1 2026 | -2.8% | +3.1% | +19.8% | |
| Q4 2025 | +6.4% | +5.9% | +7.3% | |
| Q4 2024 | -3.4% | +0.0% | -1.5% | |
| Q3 2024 | +4.1% | +6.6% | -5.9% | |
| Q2 2024 | +5.6% | +1.8% | +22.7% | |
| Q1 2024 | -5.2% | -6.1% | -3.5% | |
| Q4 2023 | +9.4% | +7.8% | +28.8% | |
| Q3 2023 | +9.7% | +8.2% | +7.8% | |
| Q2 2023 | +7.4% | -3.1% | +39.9% | |
| Q1 2023 | -5.5% | -15.3% | -15.8% | |
| Q4 2022 | -4.1% | -5.6% | -11.8% | |
| Q3 2021 | +5.1% | -3.2% | -25.4% | |
| Q3 2022 | +5.4% | -3.2% | -25.4% | |
| Q2 2022 | -2.4% | -4.8% | +6.8% | |
| Q2 2021 | -3.8% | -4.8% | +6.8% | |
| Q1 2021 | +0.1% | +0.7% | -38.7% | |
| Q1 2022 | +0.0% | +0.7% | -38.7% |
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