IMVT

Over the past six months, Immunovant discontinued batoclimab in April 2026 to concentrate resources on IMVT-1402. The company's shares climbed significantly from mid-June to mid-July 2026 and over the last quarter due to overwhelmingly positive Phase 2 clinical data for IMVT-1402 in difficult-to-treat rheumatoid arthritis, leading to analyst price target increases. The IMVT-1402 Phase IIb D2T RA study reached full enrollment with 170 patients, exceeding the original plan. However, on September 23, 2026, Immunovant announced that its IMVT-1402 cutaneous lupus trial missed its primary endpoint, leading to discontinuation in that indication and a sharp stock selloff. Following the trial miss, law firms announced securities investigations into the company. In early October 2026, Immunovant's COO and other executives made 'sell-to-cover' sales of shares to satisfy tax withholding obligations. The company also reported a wider-than-expected loss for the first quarter ended June 30, 2026, attributed to increased spending on research and development and commercial preparation.