Immunovant Inc (NASDAQ:IMVT) shares are trading higher on Wednesday even though the company posted a wider fourth‑quarter loss than analysts expected.
- Immunovant shares are testing new highs. Why are IMVT shares at highs?
Strong Trial Results Take Center Stage
The company reported a quarterly loss of 73 cents per share, falling short of the 60 cents consensus estimate. Even so, traders pushed the stock higher as attention may have shifted to new results from the IMVT‑1402 program in difficult‑to‑treat rheumatoid arthritis (D2T RA). According to the filing, the therapy produced Week 16 ACR20, ACR50 and ACR70 response rates of 72.7%, 54.5% and 35.8%, respectively.
The document states that 86.7% of participants had failed two prior mechanisms of treatment, and the average time since diagnosis was nearly 13 years.
High Response Rates In A Tough‑To‑Treat Population
The company highlighted that even among patients who had previously failed both a JAK inhibitor and an anti‑TNF therapy, response rates remained strong at Week 16, with ACR20 at 72%, ACR50 at 53.3% and ACR70 at 37.4%.
The initial 16‑week portion of the study was open‑label, but joint assessments were performed by independent evaluators who were blinded to treatment status. Immunovant believes this reduces the risk of bias. The company reported that IMVT‑1402 continued to show a favorable safety profile with no new safety signals identified.
Cash Position Supports Long‑Term Plans
As of March 31, 2026, Immunovant reported $902.1 million in cash and equivalents, which the company says is enough to fund development through the potential commercial launch of IMVT‑1402 in Graves' disease.
Research and development spending rose to $142.3 million for the quarter, driven by IMVT‑1402 trial activity and $39 million in costs tied to discontinuing batoclimab. Non‑GAAP R&D expenses for the full fiscal year reached $426.9 million, up from $333.9 million the prior year.
General and administrative expenses declined year-over-year, falling to $17.3 million. Net loss widened to $147.9 million from $106.4 million a year earlier.
IMVT Shares Are Soaring
IMVT Price Action: Immunovant shares were up 35.87% at $35.72 at the time of publication on Wednesday. The stock is trading at a new 52-week high, according to Benzinga Pro.
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