Immunovant soars on early data for IMVT-1402

Shares of Immunovant (Nasdaq: IMVT) were up a massive 80% at $36.63 by mid-morning, after the Roivant Sciences company released data from an early study of an autoimmune disease drug.

Immunovant announced that subcutaneously administered doses of IMVT-1402 produced dose-dependent reductions in IgG in initial data from a Phase I clinical trial in healthy adults, with no dose-related changes in serum albumin or LDL-C, bolstering IMVT-1402 as a potential best-in-class neonatal fragment crystallizable receptor (FcRn) inhibitor.

“We are encouraged by the strong pharmacodynamic data observed to date with IMVT-1402,” said Dr Pete Salzmann, chief executive of Immunovant. “These first-in-human results are consistent with those observed in prior non-human primate studies, and we look forward to sharing additional MAD data in November,” he noted.