Why Is Autoimmune Disease-Focused Immunovant Stock Trading Higher Today?

Immunovant Inc IMVT, a unit of Roivant Sciences Ltd ROIV, announced that subcutaneously administered doses of IMVT-1402 produced dose-dependent reductions in Immunoglobulin G (IgG) in initial data from a Phase 1 trial in healthy adults, with no dose-related changes in serum albumin or LDL-C.

"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," said Pete Salzmann, CEO of Immunovant. 

In the study's single-ascending dose (SAD) portion, subcutaneously administered IMVT-1402 demonstrated a consistent reduction in IgG with potency that was similar to or greater than that of batoclimab. 

The safety data were generally favorable, with all adverse events (AEs) mild or moderate, and no significant reduction from baseline in serum albumin or increase in LDL-C observed at any timepoint measured (all p>0.05).

Immunovant also announced that initial MAD study results for the 300 mg cohort were released ahead of schedule today. These data represent all the multiple-ascending dose (MAD) data currently available. 

Dosing for the 600 mg cohort has recently begun. 

After four weekly 300 mg subcutaneous (SC) doses of IMVT-1402, the mean total IgG reduction from baseline in this MAD cohort was 63%, with no decrease in serum albumin below baseline and no increase in LDL-C above baseline observed. 

Treatment-emergent adverse events were observed to be mild or moderate in severity. 

Price Action: ROIV shares are up 18.50% at $12.14, and IMVT stock is up 70.70% at $34.84 on the last check Tuesday.