Positive batoclimab data from Immunovant, but doubts raised on further development

Immunovant (Nasdaq: IMVT), a Roivant Sciences company, today reported top-line results from its Phase III study of batoclimab in myasthenia gravis (MG) and initial results from Period 1 of its Phase IIb study in chronic inflammatory demyelinating polyneuropathy (CIDP).

“We are excited to share positive results from our MG and CIDP studies. While neurologists and patients are very enthusiastic about currently approved FcRn inhibitors, they tell us that they also see a lot of potential for a next-generation FcRn inhibitor that can offer deeper and more durable responses for patients whose disease is still affecting their daily function. Today’s results show that deeper IgG reduction leads to deeper responses in MG and CIDP. Beyond the results in MG and CIDP, we believe that our core thesis - that deeper IgG reduction, at the levels achieved by high dose batoclimab and high dose IMVT-1402, leads to improved clinical outcomes - will apply to a wide range of auto-antibody mediated conditions,” said Dr Pete Salzmann, chief executive of Immunovant.

Investors reacted negatively to the news, sending Immunovant’s stock down 10% to below $17 before the market opened. However, the stock recovered in early trading, rising 7.5% to $20.23.