Roivant Sciences finalizes consulting agreement with former officer

Roivant Sciences Ltd. (NASDAQ:ROIV), a pharmaceutical company with a market capitalization of $7.8 billion and a "GOOD" financial health rating according to InvestingPro, disclosed on Thursday that it has entered into a consulting agreement with Rakhi Kumar, its former Chief Accounting Officer. The agreement, effective as of March 16, 2025, follows Ms. Kumar’s departure from her position on February 20, 2025, as previously reported.

Under the terms of the consulting agreement, Ms. Kumar will provide advisory and transition services to Roivant Sciences Inc., a subsidiary of Roivant Sciences Ltd., as reasonably requested. In exchange for her services during the 18-month term, Ms. Kumar will continue to vest in her outstanding equity incentive awards. The company maintains a strong financial position, with a remarkable current ratio of 37.9x and more cash than debt on its balance sheet, according to InvestingPro analysis. Upon the completion of the term, and provided all conditions are met, including compliance with the agreement and related separation documentation, any remaining unvested equity awards will fully vest.

This contractual arrangement ensures that Roivant Sciences can benefit from Ms. Kumar’s expertise during the transition period while offering her compensation through the continued vesting of her equity awards.

The announcement, based on a press release statement filed with the SEC, did not disclose the specific advisory and transition services Ms. Kumar is expected to provide nor the financial terms of the agreement.

The company’s stock is listed on The Nasdaq Global Select Market under the ticker symbol ROIV. Roivant Sciences specializes in pharmaceutical preparations, operating under the organization name 03 Life Sciences, and is incorporated in Bermuda with principal executive offices in London, United Kingdom (TADAWUL:4280). The company has demonstrated strong revenue growth of 140% over the last twelve months, though analysts currently maintain a bullish consensus on the stock, which appears undervalued based on InvestingPro’s Fair Value analysis. For deeper insights into ROIV’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Immunovant (NASDAQ:IMVT), Inc. announced positive outcomes from a Phase 3 study of its drug batoclimab for Myasthenia Gravis (MG) and initial results from a Phase 2b study in Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). The studies indicated that higher doses of batoclimab led to significant clinical improvements, but the company does not currently plan to seek regulatory approval for these conditions. Instead, Immunovant will focus on advancing another drug, IMVT-1402, into pivotal studies for MG and CIDP. Meanwhile, Roivant Sciences Ltd. has appointed Jennifer Humes as the new Principal Accounting Officer and Chief Accounting Officer for its subsidiary. Humes, who brings substantial experience from her previous roles at JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C), and Deloitte, succeeds Rakhi Kumar. Roivant Sciences has outlined Humes’ compensation package, which includes a base salary, a sign-on bonus, and equity awards. This leadership change is part of Roivant’s strategy to strengthen its executive team as it continues to innovate and grow in the pharmaceutical industry.

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