Published on 13 Feb 2024 on GuruFocus.com via Yahoo Finance
Immunovant Inc (IMVT) Reports Fiscal Q3 Results: Expands Clinical Programs Amid Rising R&D Costs
Cash Position: Immunovant Inc (NASDAQ:IMVT) reported a robust cash and cash equivalents balance of approximately $691 million as of December 31, 2023.R&D Expenses: R&D expenses increased to $48.3 million for the quarter, reflecting heightened activity in the development of IMVT-1402 and batoclimab.Net Loss: The company recorded a net loss of $51.4 million ($0.36 per common share) for the quarter, an improvement from the previous year's $63.2 million ($0.49 per common share).Clinical Trials: Immunovant plans to initiate 4-5 potentially registrational programs for IMVT-1402 and trials in 10 indications over the next two fiscal years.Stock-Based Compensation: Non-cash stock-based compensation expense was reported at $10.2 million for the quarter.
Warning! GuruFocus has detected 2 Warning Sign with IMVT.