Roivant sciences increases stake in Immunovant with $336.9 million purchase

Roivant Sciences Ltd. (NASDAQ:ROIV), a prominent player in the pharmaceutical industry, has significantly increased its stake in Immunovant, Inc. (NASDAQ:IMVT). According to a recent SEC filing, Roivant acquired 16,845,010 shares of Immunovant's common stock at a price of $20.00 per share, amounting to a total transaction value of approximately $336.9 million. The transaction values Immunovant at a significant discount to its current market capitalization of $3.57 billion, with shares now trading at $24.40. This acquisition boosts Roivant's total holdings in Immunovant to 96,650,341 shares.

Roivant's increased investment comes as Frank M. Torti, M.D., Eric Venker, M.D., Pharm.D., and Andrew Fromkin, all affiliated with Roivant, continue to serve on Immunovant's board, reinforcing the strategic relationship between the two companies.

In other recent news, leading investment bank Piper Sandler has provided an update on potential catalysts for biotechnology companies up to 2025, based on a comprehensive review of third-quarter 2024 earnings and year-end 2024 data. They have identified approximately 190 direct and over 150 indirect catalysts that could impact the firms they cover. Companies expected to have the most direct catalysts within the next 12 months include Immunovant, Praxis Precision Medicines, and Prothena Corporation.

On the other hand, GPCR Therapeutics is highlighted for its indirect obesity catalysts, particularly GSBR-1290's potential, while NAMS and its indirect Lp(a) catalysts are expected to establish a connection between Lp(a) lowering and a reduction in major adverse cardiac events. The report also underscores the potential of relaxin-related treatments and ZURA's dual MoA pipeline approach.

Six companies, including aTYR Pharma, Cytokinetics (NASDAQ:CYTK), GOSS, Immunovant, Praxis Precision Medicines, and Prothena Corporation, have been identified with de-risked Phase 3 readouts or interim analyses expected in 2025. Additionally, several companies such as Altimmune (NASDAQ:ALT), AnaptysBio (NASDAQ:ANAB), Edgewise Therapeutics, and others are expected to have key Phase 2b readouts in 2025. These are recent developments in the biotechnology sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.