Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Vivek Ramaswamy's Roivant jumps 19% on positive IMVT trial data

EditorAmbhini Aishwarya
Published 26/09/2023, 09:08 pm
© Reuters.
IMVT
-
ROIV
-

Roivant Sciences (NASDAQ:ROIV), the biotech company founded by Vivek Ramaswamy, reported today promising results from a Phase 1 clinical trial involving the subcutaneous administration of IMVT-1402.

In this trial, IMVT-1402 demonstrated dose-dependent reductions in immunoglobulinG levels in healthy adults. Importantly, there were no dose-related changes observed in serum albumin or LDL-C.

These findings strengthen the case for IMVT-1402 as a potential leading candidate in the class of neonatal fragment crystallizable receptor (FcRn) inhibitors. Such inhibitors have the potential to play a significant role in the treatment of various medical conditions related to IgG and FcRn interactions.

“We are encouraged by the strong pharmacodynamic data observed to date with IMVT-1402,” said Pete Salzmann, M.D., chief executive officer of Roivant’s subsidiary Immunovant (NASDAQ:IMVT).

“These first-in-human results are consistent with those observed in prior non-human primate studies, and we look forward to sharing additional MAD data in November.”

Immunovant shares rose 7.5% on the news, while Roivant stock jumped 18.7%.

“While we want to see the full data presentation, this looks like a fairly definitive statement around safety--getting MAD PD/safety data at this update represents an upside surprise. When we see more granular results, we think safety/albumin impact is going to be of highest interest--from our read we think the wording around the MAD data in the PR are pretty clear,” Stifel analysts wrote in a flash note.

 
 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.