Immunovant slumps by 42% on scare over thyroid eye disease drug

3 February 2021
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New York-based biopharma Immunovant (Nasdaq: IMVT) lost 42% of its value in Tuesday’s trading after announcing a voluntary pause of dosing in its ongoing clinical trials for IMVT-1401.

Immunovant had become aware of a physiological signal consisting of elevated total cholesterol and low-density lipoprotein (LDL) levels in IMVT-1401-treated patients in ASCEND GO-2, a Phase IIb trial in thyroid eye disease (TED).

"After discussion and agreement with regulators regarding protocol modifications, the company intends to continue to pursue development of IMVT-1401"

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