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

What they do

Immunovant, Inc. (“Immunovant,” “we” or the “Company”) is a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases. Our focus is on developing IMVT-1402 (imeroprubart), a potentially best-in-class inhibitor of the neonatal fragment crystallizable receptor (“FcRn”), to address autoimmune diseases driven by high levels of pathogenic immunoglobulin G (“IgG”) antibodies.

Source: 10-K FY2026 via SEC EDGAR

Share price

$36.74

Market cap

$7,588.7M

Cash

$722.3M

Enterprise value

$6,866.4M

Balance sheet

Cash	$722.3M
Debt	$0.0M
Net cash	$722.3M
Enterprise value	$6,866.4M
Basic shares	206.9M shares
Fully diluted shares	220.3M shares
Fully diluted market cap	$8,093.1M
Cash per share	$3.49
Quarterly burn	$124.4M
Cash runway	6.4 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-10.

Share structure

Common

206.3M

Pre-funded warrants

0.0M

Options

10.0M

RSUs

4.0M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.0M

FDSO

220.3M

Cap table as of 2026-06-30.

Price history

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Next catalyst

IMVT-1402 · Est. Jul 2, 2027 · guidance midpoint · guided in 7 wks

Recently reported

IMVT-1402 Phase 2 Positive · 2026-11-09

IMVT-1402

Source release →

Imeroprubart Phase 2 Missed primary · 2026-09-23

IMVT-1402

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Jul 2, 2027 in 7 wks guidance midpoint	IMVT-1402 potentially registrational trials in Graves' disease and generalized myasthenia gravis	Not disclosed	Graves' disease and generalized myasthenia gravis	2027
Jun 12 - Jul 24 in 7 mo	IMVT-1402	Phase 2	Graves' Disease	—
Oct 13 - Nov 24 in 11 mo	IMVT-1402	Phase 2	Rheumatoid Arthritis	—
Jan 12 - Feb 23 in 14 mo	IMVT-1402	Phase 3	Generalized Myasthenia Gravis	—
Jul 13 - Aug 24 in 20 mo	IMVT-1402	Phase 2	Graves' Disease	—
Aug 12 - Sep 23 in 21 mo	IMVT-1402	Phase 2	Primary Sjögren's Syndrome	—
Sep 12 - Oct 24 in 22 mo	Imeroprubart	Phase 2	Chronic Inflammatory Demyelinating Polyneuropathy	—
Apr 12 - May 24 in 42 mo	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 Est. Jul 2, 2027 · guidance midpoint
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

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

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
Perceptive Advisors	1,357,383	-240,000	0.81%	2026-08-14
Logos Global Management	665,000	-410,000	1.10%	2026-08-14
DAFNA Capital	149,524	-1,000	1.10%	2026-08-14
Great Point Partners	0	-545,625	0.00%	2026-08-14

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

Latest news

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IMVT — Immunovant Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

IMVT — Immunovant Inc.