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Immunovant (IMVT)

Immunovant is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.

Company profile

Ticker
IMVT
Exchange
Website
CEO
Peter Salzmann
Employees
Incorporated
Location
Fiscal year end
Former names
Health Sciences Acquisitions Corp
SEC CIK
Subsidiaries
Immunovant Treasury Inc. • Immunovant Sciences Ltd. • Immunovant Sciences Holdings Limited • IMVT Corporation • Immunovant Sciences GmbH ...
IRS number
832771572

IMVT stock data

Analyst ratings and price targets

Last 3 months

Calendar

5 Aug 22
28 Sep 22
31 Mar 23
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Mar 22 Mar 21 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 427.21M 427.21M 427.21M 427.21M 427.21M 427.21M
Cash burn (monthly) 22.2M (no burn) 13.34M 13.86M 21.94M 12.56M
Cash used (since last report) 65.58M n/a 39.4M 40.94M 64.8M 37.1M
Cash remaining 361.62M n/a 387.8M 386.27M 362.4M 390.11M
Runway (months of cash) 16.3 n/a 29.1 27.9 16.5 31.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
30 Aug 22 Butchko Julia G. Common Stock Sell Dispose S No No 5.83 548 3.19K 393,372
30 Aug 22 Salzmann Peter Common Stock Sell Dispose S No No 5.83 1,644 9.58K 1,002,351
17 Aug 22 Torti Frank Common Stock Grant Acquire A No No 0 225,632 0 373,358
17 Aug 22 Torti Frank Stock Option Common Stock Grant Acquire A No No 4.99 339,296 1.69M 339,296
17 Aug 22 Hughes Douglas J. Common Stock Grant Acquire A No No 0 21,059 0 101,232
17 Aug 22 Hughes Douglas J. Stock Option Common Stock Grant Acquire A No No 4.99 31,668 158.02K 31,668
17 Aug 22 Pande Atul Common Stock Grant Acquire A No No 0 21,059 0 82,985
17 Aug 22 Pande Atul Stock Option Common Stock Grant Acquire A No No 4.99 31,668 158.02K 31,668
13F holders Current Prev Q Change
Total holders 96 114 -15.8%
Opened positions 11 14 -21.4%
Closed positions 29 21 +38.1%
Increased positions 31 38 -18.4%
Reduced positions 31 44 -29.5%
13F shares Current Prev Q Change
Total value 418.73M 218.4M +91.7%
Total shares 113.49M 112.92M +0.5%
Total puts 29.6K 72.5K -59.2%
Total calls 412.6K 634K -34.9%
Total put/call ratio 0.1 0.1 -37.3%
Largest owners Shares Value Change
ROIV Roivant Sciences 73.4M $0 0.0%
Deep Track Capital 9.46M $36.88M +30.9%
Eventide Asset Managment 5.37M $20.95M 0.0%
Alpine Global Management 4.45M $17.35M +15.2%
Vanguard 4M $15.6M +6.2%
BLK Blackrock 3.63M $14.16M +8.3%
FHI Federated Hermes 1.88M $7.34M -1.1%
Dimensional Fund Advisors 945.48K $3.69M +36.8%
STT State Street 892.68K $3.48M +6.8%
Geode Capital Management 794.97K $3.1M +0.8%
Largest transactions Shares Bought/sold Change
Deep Track Capital 9.46M +2.23M +30.9%
Octagon Capital Advisors 579.06K -895.94K -60.7%
Alpine Global Management 4.45M +586.23K +15.2%
Point72 Asset Management 0 -459.3K EXIT
Mangrove Partners 0 -368K EXIT
Polar Asset Management Partners 0 -348.4K EXIT
BLK Blackrock 3.63M +277.44K +8.3%
Two Sigma Investments 550.38K -271.49K -33.0%
Millennium Management 333.55K -262.73K -44.1%
Dimensional Fund Advisors 945.48K +254.52K +36.8%

Financial report summary

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Risks
  • Enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside our control.
  • Interim, “top-line” or preliminary data from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • We may not be able to successfully develop and commercialize our product candidate batoclimab on a timely basis or at all.
  • If we are not able to obtain required regulatory approvals, we will not be able to commercialize batoclimab or any future product candidate, and our ability to generate product revenue will be impaired.
  • We face significant competition from other biotechnology and pharmaceutical companies targeting autoimmune disease indications. Our operating results will suffer if we fail to compete effectively.
  • The regulatory approval processes of the FDA and comparable foreign authorities are lengthy, time consuming and inherently unpredictable, and even if we obtain approval for a product candidate in one country or jurisdiction, we may never obtain approval for or commercialize it in any other jurisdiction, which would limit our ability to realize our full market potential.
  • Even if we obtain regulatory approval for a product candidate, we will still face extensive ongoing quality and regulatory compliance requirements and our product may face future development and quality or regulatory compliance difficulties.
  • Our current and future relationships with investigators, health care professionals, consultants, third-party payors, and customers are subject to applicable healthcare regulatory laws, which could expose us to penalties.
  • We expect to incur significant losses for the foreseeable future and may never achieve or maintain profitability.
  • Our or our affiliates’ employees, independent contractors, principal investigators, consultants, commercial collaborators, service providers and other vendors or potential collaborators may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have an adverse effect on our results of operations.
  • We are subject to stringent and changing privacy, data protection, and information security laws, contractual obligations, self-regulatory schemes, government regulation and standards related to data privacy and security. The actual or perceived failure by us, our customers, partners or vendors to comply with such obligations could harm our reputation, subject us to significant fines and liability, disrupt our clinical trials or otherwise adversely affect our business.
  • Potential product liability lawsuits against us could cause us to incur substantial liabilities and limit commercialization of any products that we may develop.
  • Our business could be adversely affected by economic downturns, inflation, increases in interest rates, natural disasters, political crises, geopolitical events, such as the crisis in Ukraine, or other macroeconomic conditions, which may in the future negatively impact our business and financial performance.
  • Our product candidate for which we intend to seek approval as a biological product may face competition sooner than anticipated.
  • If we are unable to obtain and maintain patent protection for batoclimab or any future product candidates or if the scope of the patent protection obtained is not sufficiently broad, we may not be able to compete effectively in our markets.
  • The validity, scope and enforceability of any patents that cover a biologic subject to approval by the FDA via a BLA, such as batoclimab, can be challenged by third parties.
  • We may not be able to protect or enforce our intellectual property rights throughout the world.
  • Patent terms may be inadequate to protect our competitive position on our product candidate for an adequate amount of time.
  • If we are not able to obtain patent term extension in the U.S. under the Hatch-Waxman Act and in foreign countries under similar legislation, thereby potentially extending the term of our marketing exclusivity for batoclimab or other product candidates that we may identify, our business may be harmed.
  • We do not have rights to protect intellectual property in certain territories and may be unable to adequately protect our rights
  • If we fail to comply with our obligations under any license, collaboration or other agreements, including the HanAll Agreement, we may be required to pay damages and could lose intellectual property rights that are necessary for developing and protecting our product candidate.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies and our patent protection could be reduced or eliminated for noncompliance with these requirements.
  • We may need to license intellectual property from third parties and such licenses may not be available or may not be available on commercially reasonable terms.
  • Third-party claims or litigation alleging infringement of patents or other proprietary rights or seeking to invalidate patents or other proprietary rights may delay or prevent the development and commercialization of our product candidate.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might adversely affect our ability to develop and market our product candidate or any future product candidates.
  • We may become involved in lawsuits to protect or enforce our patents, the patents of our licensors or our other intellectual property rights, which could be expensive, time consuming and unsuccessful.
  • Because the patents we own are owned by our wholly owned subsidiary, ISG, we may not be in a position to obtain a permanent injunction against a third party that is found to infringe our patents.
  • Because of the expense and uncertainty of litigation, we may not be in a position to enforce our intellectual property rights against third parties.
  • Changes in U.S. patent law or the patent law of other countries or jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect batoclimab or any of our future product candidates.
  • If we are unable to protect the confidentiality of our trade secrets and other proprietary information, including as a result of our reliance on third parties, our business and competitive position could be harmed.
  • We may be subject to claims that our licensors, employees, consultants, independent contractors or we have wrongfully used or disclosed confidential information of their former employers or other third parties.
  • We may be subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • Intellectual property litigation could cause us to spend substantial resources and distract our personnel from their normal responsibilities and have an adverse effect on the success of our business.
  • Any trademarks and trade names we have obtained or may obtain may be infringed or successfully challenged, resulting in harm to our business.
  • Our intellectual property agreements with third parties may be subject to disagreements over contract interpretation, which could narrow the scope of our rights to the relevant intellectual property.
  • We may not be successful in obtaining necessary intellectual property rights to future products through acquisitions and in-licenses.
  • Intellectual property rights do not necessarily address all potential threats to our competitive advantage.
  • RSL owns a significant percentage of shares of our common stock and may exert significant control over matters subject to stockholder approval.
  • RSL has the right to elect a certain number of directors to our board of directors.
  • Our organizational and ownership structure may create significant conflicts of interests.
  • The market price of shares of our common stock has been and is likely to be highly volatile, and you may lose some or all of your investment.
  • We are subject to securities litigation, which is expensive and could divert management attention and adversely impact our business.
  • We are a “controlled company” within the meaning of the applicable Nasdaq Global Select Market (“Nasdaq”) listing rules and, as a result, qualify for exemptions from certain corporate governance requirements. If we rely on these exemptions, you will not have the same protections afforded to stockholders of companies that are subject to such requirements.
  • If securities or industry analysts do not publish research or reports about our business or publish negative reports about our business, our share price and trading volume could decline and has declined in the past upon downgrades of our common stock.
  • Because we do not anticipate paying any cash dividends on shares of our common stock in the foreseeable future, capital appreciation, if any, would be your sole source of gain.
  • We will continue to incur increased costs as a result of operating as a public company and our management will continue to devote substantial time to compliance with our public company responsibilities and corporate governance practices.
  • As a public company, we are obligated to develop and maintain proper and effective internal controls over financial reporting and any failure to maintain the adequacy of these internal controls may adversely affect investor confidence in our company and, as a result, the value of shares of our common stock.
  • We may become subject to unanticipated tax liabilities and higher effective tax rates.
  • Changes in our effective tax rate may reduce our net income in future periods.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current management and limit the market price of our common stock.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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