0001764013-26-000062
SEC filingImmunovant reported a widened net loss for Q4 FY2026 driven by increased R&D spending and batoclimab discontinuation costs, with cash sufficient to fund IMVT-1402 launch in Graves' disease.
Immunovant's Q4 FY2026 results reflect increased investment in IMVT-1402 and costs from batoclimab discontinuation. R&D expenses rose to $142.3M from $93.7M in the prior-year quarter, including $39.0M in contractual costs tied to batoclimab termination. The GAAP net loss widened to $147.9M ($0.73 per share) from $106.4M ($0.64 per share). On a non-GAAP basis, adjusted net loss was $137.0M versus $94.9M. The company ended the quarter with $902.1M in cash, providing runway through the potential launch of IMVT-1402 in Graves' disease.
Pipeline progress was highlighted by promising Week 16 data from the IMVT-1402 trial in difficult-to-treat rheumatoid arthritis, with ACR20/50/70 response rates of 72.7%, 54.5%, and 35.8%. The CLE proof-of-concept trial is fully enrolled, with topline data expected in the second half of 2026. Meanwhile, batoclimab was discontinued after Phase 3 TED failures, and the company is focusing fully on IMVT-1402. Registrational trials in GD, MG, CIDP, and SjD remain on track, with topline data from GD and MG anticipated in 2027. The strong cash position and clinical progress underscore Immunovant's transition toward a potential commercial-stage immunology company.