Roivant SciencesNASDAQ: ROIV

Roivant Sciences Ltd. (ROIV) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.25.

BASEL, Switzerland and LONDON and NEW YORK, May 30, 2024 (GLOBE NEWSWIRE) -- Roivant (Nasdaq: ROIV) today reported its financial results for the fourth quarter and fiscal year ended March 31, 2024, and provided a business update.

Roivant (Nasdaq: ROIV) will hold a live conference call and webcast on Thursday, May 30, 2024, at 8:00 a.m. ET to discuss its financial results for the fourth quarter and fiscal year ending March 31, 2024, as well as give a business update.

Roivant Sciences operates with an innovative business model through its subsidiaries, specializing in specific therapeutic areas such as immuno-dermatology and autoimmune disorders. Notable achievements include the sale of Telavant to Roche, the successful performance of Vtama cream for psoriasis, and advancements in clinical trials for atopic dermatitis and IMVT-1402 antibody development. Despite the lack of immediate catalysts and ongoing cash burn, the stock trades at a substantial discount relative to its sector, making it a "buy" at current levels.

Roivant Sciences Ltd. shares ROIV fell 3% premarket on Monday after the company said the experimental treatment brepocitinib failed to meet its main goal in a trial involving patients with moderate to severe lupus.

Roivant Sciences said on Monday its experimental drug to treat autoimmune disease systemic lupus erythematosus (SLE) failed to meet the main goal of reducing symptoms in a mid-stage study.

Roivant Sciences stock moved lower on Monday after the biopharmaceutical company announced that its lupus therapeutic oral brepocitinib failed to meet the primary endpoint in a Phase 2 study. The company said it plans to continue progressing the drug in other indications outside of Systemic Lupus Erythematosus (SLE) given its favorable safety and tolerability profile, six other positive Phase 2 studies, and the active arm performance of this study.

Roche Holding AG acquires Telavant Holdings for $7.1B upfront and $150M milestone payment, potentially very interesting deal. Roivant Sciences owns a 75% equity interest in Telavant Holdings. Curiously, Roivant Sciences stock sold off on the news.

Monday, Roivant Sciences announced an asset sale to Roche. The biotech is slated to earn $5.2 billion upon closing, plus a $110 milestone payment once a late-stage trial commences.