Immunovant down on quarterly results miss

Immunovant

04/11/2022 14:42

** Shares of the drug developer Immunovant Inc  IMVT.O  fall
3.8% to $11.5 
    ** Co reported Q2 adj. loss of 41 cents​​ per share while
expectations of eight analysts' was for a loss of 39 cents per
share - Refinitiv IBES data
    ** IMVT's quarterly R&D expenses increased 76.2% to $37.7
mln from a year earlier primarily due to higher program-specific
research and development costs on drug candidate, batoclimab 
    ** Co also says its pro forma cash and cash equivalents as
of September 30, 2022, totaled nearly $476 mln, which is
expected to extend cash runway into H2 2025
    ** Including session's fall, stock up 34.6% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))