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Immunovant (IMVT) Rises More Than 150% in 3 Months: Here's How
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Shares of Immunovant, Inc. (IMVT - Free Report) have surged 158.9% in the past three months compared with the industry’s increase of 2.1%.
The company has made good progress during this period with the development of its lead pipeline candidate, batoclimab (formerly IMVT-1401), which is being developed for the treatment of several autoimmune diseases.
Batoclimab is a fully human, monoclonal antibody that selectively binds to and inhibits neonatal fragment crystallizable receptors (FcRn). The candidate is being developed as a subcutaneous injection for the treatment of myasthenia gravis (“MG”), warm autoimmune hemolytic anemia (“WAIHA”) and thyroid eye disease (“TED”). IMVT is making rapid progress in batoclimab’s development this year.
Image Source: Zacks Investment Research
In September 2022, IMVT announced that it plans to develop batoclimab for two new indications, namely chronic inflammatory demyelinating polyneuropathy and Graves’ disease. This can be a catalyst for the stock to remain high during this period.
The company is looking to initiate a pivotal phase IIb study to evaluate batoclimab for treating chronic inflammatory demyelinating by 2022 end. Management also plans to start another phase II study on the same to treat Graves’ disease in early 2023.
Immunovant initiated a pivotal study evaluating batoclimab for the treatment of MG in June 2022. Top-line data from the same is expected in the second half of 2024.
Immunovant achieved alignment with the FDA’s Division of Ophthalmology to initiate two phase III studies for evaluating batoclimab to treat TED. Both studies are progressing well. Top-line data from both are expected in the first half of 2025.
IMVT also plans to initiate a placebo-controlled study on batoclimab for treating WAIHA. The study is contingent on discussions with the hematology division of the FDA, which are expected to take place later in 2022.
Also, in September 2022, IMVT unveiled its new next-generation FcRn inhibitor, IMVT-1402. The company plans to file an investigational new drug application for IMVT-1402 early next year with initial data expected in mid-2023.
The encouraging pipeline progress with batoclimab has maintained momentum for IMVT.
However, in the absence of a marketed drug, the successful development of batoclimab remains the main focus of Immunovant. Moreover, batoclimab is still in late-stage development and is still a few years away from commercialization. Any developmental setback for batoclimab will be a major setback for the company, leaving an adverse impact on its shares.
Immunovant currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the biotech sector are Immunocore Holdings plc (IMCR - Free Report) , Angion Biomedica Corp. and Syndax Pharmaceuticals, Inc. (SNDX - Free Report) , all sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss per share estimates for Immunocore has narrowed 33.5% for 2022 and 33.3% for 2023 in the past 60 days.
Earnings of Immunocore surpassed estimates in three of the trailing four quarters and missed the same on the remaining occasion. IMCR witnessed an earnings surprise of 68.34% on average.
Loss per share estimates for Angion Biomedica has narrowed 6.7% for 2022 and 7.1% for 2023 in the past 60 days.
Earnings of Angion Biomedica surpassed estimates in three of the trailing four quarters and missed the mark on the other occasion. ANGN witnessed an earnings surprise of 66.42% on average.
Loss per share estimates for Syndax Pharmaceuticals have narrowed 4.9% for 2022 and 10.1% for 2023 in the past 60 days.
Earnings of Syndax Pharmaceuticals surpassed estimates in three of the trailing four quarters and met the same on the other occasion. SNDX witnessed an earnings surprise of 95.39% on average.
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Immunovant (IMVT) Rises More Than 150% in 3 Months: Here's How
Shares of Immunovant, Inc. (IMVT - Free Report) have surged 158.9% in the past three months compared with the industry’s increase of 2.1%.
The company has made good progress during this period with the development of its lead pipeline candidate, batoclimab (formerly IMVT-1401), which is being developed for the treatment of several autoimmune diseases.
Batoclimab is a fully human, monoclonal antibody that selectively binds to and inhibits neonatal fragment crystallizable receptors (FcRn). The candidate is being developed as a subcutaneous injection for the treatment of myasthenia gravis (“MG”), warm autoimmune hemolytic anemia (“WAIHA”) and thyroid eye disease (“TED”). IMVT is making rapid progress in batoclimab’s development this year.
Image Source: Zacks Investment Research
In September 2022, IMVT announced that it plans to develop batoclimab for two new indications, namely chronic inflammatory demyelinating polyneuropathy and Graves’ disease. This can be a catalyst for the stock to remain high during this period.
The company is looking to initiate a pivotal phase IIb study to evaluate batoclimab for treating chronic inflammatory demyelinating by 2022 end. Management also plans to start another phase II study on the same to treat Graves’ disease in early 2023.
Immunovant initiated a pivotal study evaluating batoclimab for the treatment of MG in June 2022. Top-line data from the same is expected in the second half of 2024.
Immunovant achieved alignment with the FDA’s Division of Ophthalmology to initiate two phase III studies for evaluating batoclimab to treat TED. Both studies are progressing well. Top-line data from both are expected in the first half of 2025.
IMVT also plans to initiate a placebo-controlled study on batoclimab for treating WAIHA. The study is contingent on discussions with the hematology division of the FDA, which are expected to take place later in 2022.
Also, in September 2022, IMVT unveiled its new next-generation FcRn inhibitor, IMVT-1402. The company plans to file an investigational new drug application for IMVT-1402 early next year with initial data expected in mid-2023.
The encouraging pipeline progress with batoclimab has maintained momentum for IMVT.
However, in the absence of a marketed drug, the successful development of batoclimab remains the main focus of Immunovant. Moreover, batoclimab is still in late-stage development and is still a few years away from commercialization. Any developmental setback for batoclimab will be a major setback for the company, leaving an adverse impact on its shares.
Immunovant, Inc. Price
Immunovant, Inc. price | Immunovant, Inc. Quote
Zacks Rank & Other Stocks to Consider
Immunovant currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the biotech sector are Immunocore Holdings plc (IMCR - Free Report) , Angion Biomedica Corp. and Syndax Pharmaceuticals, Inc. (SNDX - Free Report) , all sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Loss per share estimates for Immunocore has narrowed 33.5% for 2022 and 33.3% for 2023 in the past 60 days.
Earnings of Immunocore surpassed estimates in three of the trailing four quarters and missed the same on the remaining occasion. IMCR witnessed an earnings surprise of 68.34% on average.
Loss per share estimates for Angion Biomedica has narrowed 6.7% for 2022 and 7.1% for 2023 in the past 60 days.
Earnings of Angion Biomedica surpassed estimates in three of the trailing four quarters and missed the mark on the other occasion. ANGN witnessed an earnings surprise of 66.42% on average.
Loss per share estimates for Syndax Pharmaceuticals have narrowed 4.9% for 2022 and 10.1% for 2023 in the past 60 days.
Earnings of Syndax Pharmaceuticals surpassed estimates in three of the trailing four quarters and met the same on the other occasion. SNDX witnessed an earnings surprise of 95.39% on average.