Roivant Sciences Ltd. Reports Q4 and FY 2025 Financial Results

Roivant Sciences Ltd., a biopharmaceutical company focused on accelerating the development and commercialization of medicines, has released its financial results for the fourth quarter and fiscal year ended March 31, 2025. The company also provided a comprehensive business update, highlighting significant progress in its clinical programs and strategic initiatives.

Financial Highlights

For the fourth quarter ended March 31, 2025, Roivant reported a net loss from continuing operations of $252.4 million, compared to a net loss of $95.0 million in the same period last year. The loss per share from continuing operations was $0.29, up from $0.08 in the prior year. Revenue for the quarter was $7.6 million, down from $9.0 million in the previous year. The company’s consolidated cash, cash equivalents, restricted cash, and marketable securities stood at $4.9 billion as of March 31, 2025.

Business and Operational Highlights

Roivant's brepocitinib program is advancing with rapid enrollment in the Phase 3 study for non-infectious uveitis (NIU) and the initiation of a proof-of-concept trial for cutaneous sarcoidosis (CS). The company expects readouts for these studies in the first half of 2027 and the second half of 2026, respectively. Additionally, the Phase 3 study for brepocitinib in dermatomyositis (DM) is fully enrolled, with topline data expected in the second half of 2025.

Immunovant, a subsidiary of Roivant, is focusing on six indications for IMVT-1402, including potentially registrational studies for Graves’ disease (GD) and Sjögren’s disease (SjD), both set to start in summer 2025. The company also reported positive results from its batoclimab studies in myasthenia gravis (MG) and chronic inflammatory demyelinating polyneuropathy (CIDP).

Strategic Initiatives and Corporate Developments

Roivant has repurchased $1.3 billion of its shares as of March 31, 2025, reducing outstanding shares by 14% from the previous year. The company is also involved in litigation against Moderna, expanding its lawsuits to include international jurisdictions such as Canada, Japan, Switzerland, and the UPC, with trials expected in 2026.

Management's Perspective

Matt Gline, CEO of Roivant, expressed pride in the company's progress, highlighting the broad development of brepocitinib, positive data from the myasthenia gravis study, and the expansion of IMVT-1402 into new indications. Gline emphasized the company's focus on building value in its late-stage clinical pipeline and maintaining discipline in capital allocation across the portfolio.

Future Outlook

Roivant has several key milestones anticipated for the upcoming periods. Priovant plans to report topline data from the Phase 3 trial of brepocitinib in DM in the second half of 2025 and from the Phase 3 trial in NIU in the first half of 2027. Immunovant expects to report six-month remission data from the proof-of-concept study in GD in summer 2025 and Phase 3 thyroid eye disease (TED) data in the second half of 2025. Pulmovant plans to report topline data from the Phase 2 trial of mosliciguat in pulmonary hypertension associated with interstitial lung disease in the second half of 2026.

SEC Filing: Roivant Sciences Ltd. [ ROIV ] - 8-K - May. 29, 2025