IMVT Stock — Immunovant Inc.: Cash, EV, Pipeline

Share price

$36.95

Market cap

$7,632.1M

Cash

$797.8M

Enterprise value

$6,834.3M

Balance sheet

Cash	$797.8M
Debt	$0.0M
Net cash	$797.8M
Enterprise value	$6,834.3M
Basic shares	206.3M shares
Fully diluted shares	225.5M shares
Fully diluted market cap	$8,334.1M
Cash per share	$3.87

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Nov 12 - Dec 24	IMVT-1402	Phase 2	Subacute Cutaneous Lupus Erythematosus; Chronic Cutaneous Lupus Erythematosus	—
Jun 12 - Jul 24	IMVT-1402	Phase 2	Graves' Disease	—
Oct 13 - Nov 24	IMVT-1402	Phase 2	Rheumatoid Arthritis	—
Jan 12 - Feb 23	IMVT-1402	Phase 3	Generalized Myasthenia Gravis	2027
Jul 13 - Aug 24	IMVT-1402	Phase 2	Graves' Disease	—
Aug 12 - Sep 23	IMVT-1402	Phase 2	Primary Sjögren's Syndrome	—
Sep 12 - Oct 24	Imeroprubart	Phase 2	Chronic Inflammatory Demyelinating Polyneuropathy	—
Apr 12 - May 24	IMVT-1402	Phase 2	Graves' Disease	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

IMVT-1402

Phase 3 · Active Modality: monoclonal antibody (anti-FcRn)

Aliases imeroprubart

Target FcRn (neonatal fragment crystallizable receptor)

Partnerships Licensed from HanAll Biopharma (exclusive rights in U.S., Canada, Mexico, EU, U.K., Switzerland, Middle East, North Africa, Latin America; mid-single digit to mid-teens royalties). Commercial formulation/device uses the YpsoMate autoinjector developed by Ypsomed AG.

Indications

Graves' disease (GD) (Phase 3)
Difficult-to-treat rheumatoid arthritis (D2T RA) (Phase 3)
Myasthenia gravis (MG) (Phase 3)
Chronic inflammatory demyelinating polyneuropathy (CIDP) (Phase 3)
Sjogren's disease (SjD) (Phase 3)
Cutaneous lupus erythematosus (CLE) (Phase 2)

Catalysts

— Second half of 2026
— 2027
— 2028

Status note Novel, fully human anti-FcRn monoclonal antibody designed as a simple subcutaneous injection; deep, dose-dependent IgG reductions observed in Phase 1 with minimal albumin reduction or LDL increases. Ongoing studies in six indications: two potentially registrational GD trials (topline 2027), potentially registrational D2T RA trial (ACPA-positive; positive preliminary open-label Week 16 Period 1 results reported May 2026; further updates expected H2 2026), potentially registrational SjD trial (topline 2028), fully enrolled proof-of-concept CLE trial (topline H2 2026), potentially registrational MG trial (26-week, topline 2027) and potentially registrational CIDP trial (24-week, topline 2028).

Batoclimab

Phase 3 · Terminated Modality: monoclonal antibody (anti-FcRn)

Aliases IMVT-1401

Target FcRn (neonatal fragment crystallizable receptor)

Partnerships Licensed from HanAll Biopharma; company in discussions with HanAll regarding future disposition of batoclimab, including potential return of rights.

Indications

Thyroid eye disease (TED) (Phase 3)
Graves' disease (Phase 2)
Myasthenia gravis (Phase 3)
Chronic inflammatory demyelinating polyneuropathy (Phase 3)

Status note First-generation anti-FcRn antibody. In Apr 2026 two Phase 3 TED studies failed to meet their primary endpoints; development discontinued across all indications (GD, MG, CIDP, TED) to focus fully on IMVT-1402. $42.5M in non-cancelable contractual costs accrued from discontinuation.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	IMVT-1402
Lead indication	Generalized Myasthenia Gravis
Lead phase	Phase 3
Active trials	8

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07039916	Phase 3	Recruiting	Sponsor	IMVT	—	Generalized Myasthenia Gravis	2027
NCT06980805	Phase 2	Active, not recruiting	Sponsor	IMVT	—	Subacute Cutaneous Lupus Erythematosus; Chronic Cutaneous Lupus Erythematosus	—
NCT07018323	Phase 2	Recruiting	Sponsor	IMVT	—	Graves' Disease	—
NCT06754462	Phase 2	Active, not recruiting	Sponsor	IMVT	—	Rheumatoid Arthritis	—
NCT06727604	Phase 2	Recruiting	Sponsor	IMVT	—	Graves' Disease	—
NCT06979531	Phase 2	Active, not recruiting	Sponsor	IMVT	—	Primary Sjögren's Syndrome	—
NCT07032662	Phase 2	Recruiting	Sponsor	IMVT	—	Chronic Inflammatory Demyelinating Polyneuropathy	—
NCT07286006	Phase 2	Enrolling by invitation	Sponsor	IMVT	—	Graves' Disease	—

Sponsor-matched active trials from ClinicalTrials.gov (8 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 8 active trials for Immunovant Sciences GmbH on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Baker Bros. Advisors	5,435,220	-22,661	1.05%	2026-08-14
RTW Investments	3,177,849	no change	1.05%	2026-08-14
ADAR1 Capital Management	2,330,716	-348,294	4.22%	2026-08-14
Logos Global Management	665,000	-410,000	1.10%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

IMVT — Immunovant Inc.