Autoimmune Disease Player Immunovant's Investigational Drug For Immune System Disorder Shows Response Rates Of Over 50%
Portfolio Pulse from Vandana Singh
Immunovant Inc (NASDAQ:IMVT) reported positive results from a Phase 2 trial of batoclimab for Graves' disease, with response rates exceeding 50%. The 680 mg dose showed up to 87% IgG reduction after 12 weeks. The drug was well tolerated with no new safety issues. CEO Pete Salzmann indicated future development plans for IMVT-1402 in Graves' disease to be announced in 2024. IMVT shares rose 12.10% in premarket trading.
December 21, 2023 | 1:57 pm
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POSITIVE IMPACT
Immunovant's batoclimab exceeded 50% response rates in a Phase 2 trial for Graves' disease, with significant IgG reduction and no new safety concerns. Shares increased by 12.10% in premarket trading.
The positive trial results are likely to increase investor confidence in Immunovant's pipeline, particularly for batoclimab, leading to a short-term positive impact on the stock price. The premarket share price movement reflects this optimism.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Roivant Sciences Ltd, the parent company of Immunovant, may see indirect positive sentiment due to the successful trial results of Immunovant's batoclimab for Graves' disease.
As the parent company of Immunovant, Roivant Sciences may experience a positive impact on its stock price due to the successful results of its subsidiary's drug trial. However, the impact may be less direct compared to Immunovant.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70