Immunovant reports promising remission data for Graves’ disease therapy

NEW YORK - Immunovant, Inc. (NASDAQ:IMVT), a clinical-stage immunology company with a market capitalization of $2.7 billion, announced Wednesday that approximately 80% of patients with uncontrolled Graves’ disease maintained normal thyroid function six months after completing treatment with its experimental therapy batoclimab. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 12.3, though it faces near-term profitability challenges.

According to a press release statement, 17 of 21 patients who completed the six-month follow-up period demonstrated sustained response with thyroid hormone levels remaining at or below the upper limit of normal. Nearly half of these responders (8 of 17) achieved remission without requiring anti-thyroid drugs. While these results are promising, InvestingPro analysis shows that 5 analysts have recently revised their earnings expectations downward for the upcoming period.

The data comes from a proof-of-concept study where patients received batoclimab, a monoclonal antibody targeting FcRn, for 24 weeks. The treatment regimen included a dose step-down from 680 mg weekly to 340 mg weekly at the midpoint of the treatment period.

"These novel results support FcRn blockade as a potentially effective mechanism for the treatment of Graves’ disease, with the six-month remission data providing evidence of potential disease modification," said George Kahaly, Lead Principal Investigator, in the announcement.

The study focused on patients with active Graves’ disease who remained hyperthyroid despite standard anti-thyroid drug therapy. Safety and tolerability were reported to be consistent with previous batoclimab studies.

Immunovant is currently enrolling patients in two potentially registrational trials for IMVT-1402, its lead compound for Graves’ disease. These trials will evaluate a 600 mg dose for up to 52 weeks without the dose step-down used in the batoclimab study. Topline results are expected in 2027. The company’s financial position shows it holds more cash than debt, though it’s burning through cash rapidly with negative free cash flow of $418 million in the last twelve months.

Graves’ disease is an autoimmune disorder causing overproduction of thyroid hormones. Current treatments include anti-thyroid medications, radioactive iodine therapy, or surgery, with many patients experiencing difficulty achieving sustained remission.

Immunovant is a clinical-stage immunology company developing therapies for autoimmune diseases. Based on InvestingPro’s Fair Value analysis, the stock appears slightly undervalued at current levels. Investors seeking deeper insights can access comprehensive financial health metrics and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including Immunovant.

In other recent news, Immunovant reported its fiscal first quarter 2026 update, prompting Stifel to adjust its stock price target for the company from $61 to $50 while maintaining a Buy rating. Stifel continues to view the FcRn class as a significant opportunity within the autoimmune sector. Additionally, Immunovant has appointed Eric Venker as its Chief Executive Officer. Dr. Venker’s new role comes with an annual base salary of $672,000 and the potential for a performance bonus. Meanwhile, Goldman Sachs has resumed coverage of Immunovant with a Neutral rating and set a price target of $18. The investment bank highlights IMVT-1402 as a promising asset with potential applications in diseases such as Graves disease and cutaneous lupus erythematosus. These developments are part of the company’s ongoing strategic initiatives.

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