Immunovant's Q2 Loss Wider Than Expected, Pipeline in Focus [Yahoo! Finance]
Immunovant, Inc. (IMVT)
Company Research
Source: Yahoo! Finance
The reported figure is also wider than the year-ago quarter's loss of 45 cents per share. Currently, Immunovant does not have any approved product in its portfolio. As a result, it has yet to generate revenues. See the Zacks Earnings Calendar to stay ahead of market-making news. Research and development (R&D) expenses totaled $97.3 million, up 103% from the year-ago quarter's figure. The massive uptick can be attributed to activities in preparation for potential future clinical studies of IMVT-1402, including contract manufacturing costs for drug substance, higher overall clinical study costs related to batoclimab development programs and increased personnel-related expenses. General and administrative expenses amounted to $18.5 million, up 33% on a year-over-year basis. The rise was primarily due to an increase in personnel-related expenses, legal and other professional fees, along with information technology costs. As of Sept. 30, 2024, Immunovant had a cash balance of $47
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IMVT
News
- Immunovant, Inc. (NASDAQ: IMVT) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $51.00 price target on the stock.MarketBeat
- Immunovant Provides Development Updates and Reports Financial Results for the Quarter Ended September 30, 2024GlobeNewswire
- Immunovant Announces Oral Presentation of Late Breaking Abstract for Phase 2 Graves’ Disease Clinical Data at the 2024 American Thyroid Association (ATA) Annual MeetingGlobeNewswire
- Immunovant: Switching Lead Candidates Increases Risk [Seeking Alpha]Seeking Alpha
- Immunovant, Inc. (NASDAQ: IMVT) had its "outperform" rating re-affirmed by analysts at Raymond James. They now have a $36.00 price target on the stock.MarketBeat
IMVT
Earnings
- 8/6/24 - Miss
IMVT
Sec Filings
- 11/12/24 - Form SC
- 11/7/24 - Form 10-Q
- 11/7/24 - Form 8-K
- IMVT's page on the SEC website