On November 10, 2025, Immunovant disclosed its financial results for the second quarter ended September 30, 2025. The company reported a cash and cash equivalents balance of $521.9 million, a decrease from $635.4 million at the end of the prior year, but sufficient to fund its clinical program through the expected Graves’ disease readout in 2027.
Research and development expenses for the quarter rose to $114.2 million, up from $97.3 million in the same period last year, reflecting increased investment in the IMVT‑1402 pipeline. General and administrative costs were $17.5 million, slightly lower than the $18.5 million reported a year earlier, indicating tighter cost control in non‑clinical areas.
The company posted a net loss of $126.5 million ($0.73 per share) for the quarter, an increase from the $109.1 million loss ($0.74 per share) reported a year ago. The loss is driven by higher R&D spending and ongoing clinical development, underscoring the company’s status as a clinical‑stage biopharma that has yet to generate product revenue.
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