Immunovant rises as autoimmune drug succeeds in mid-stage trial

Immunovant

21/12/2023 12:45

** Shares of Immunovant  IMVT.O  rise 10.6% to $40 premarket
    ** Late Wednesday, co said its experimental drug
"meaningfully" exceeded a 50% response rate in a mid-stage
trial, evaluating it as a potential treatment for Graves'
disease 
    ** Graves' disease is an autoimmune disorder that leads to
overproduction of thyroid hormones or hyperthyroidism 
    ** Response in the study was defined as normalization of
hormone levels without increasing the dose of the drug - co
    ** Brokerage H.C. Wainwright and BofA Global Reseach raise
their PTs on IMVT 
    ** Up to Wednesday's close, stock has more than doubled YTD

 (Reporting by Puyaan Singh; Editing by Shweta Agarwal)
 ((Puyaan.Singh@thomsonreuters.com;))