Immunovant Inc IMVT

Immunovant recently reported topline results from Period 1 of its proof-of-concept trial of IMVT-1402 in cutaneous lupus erythematosus, where the drug did not achieve statistical significance on the primary CLASI-A endpoint at Week 12, leading the company to halt development for this indication. Despite observing numerical trends favoring IMVT-1402 and better responses in patients with deeper IgG reductions, Immunovant concluded that the combination of these data and a competitive treatment...

Immunovant (IMVT) just told the market that its proof-of-concept Phase 2b trial for IMVT-1402 in cutaneous lupus erythematosus missed the primary efficacy goal, and the program in this indication is being discontinued. The mixed trial outcome lands at a sensitive moment for Immunovant. The share price is US$33.49 after a 1-day share price return of 0.57%, yet the 7-day share price return is down 9.92% and the 30-day share price return is down 18.71%. This hints that recent traders have been...