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Immunovant

IMVT Rare disease Lead: Phase 3 6 Biotech Distilled articles ↓ 12 filings & releases ↓ Cash $798M (Jun 30, 2026) ↓ 6 verdicts ↓
ImmunologyNeurology Protein

Market cap $6.31B 206.6M shares (10-Q, Aug 3, 2026) × $30.53 close Nov 6, 2026

Most recent annual filing: 2026-05-20

Catalyst timeline

1 trackedQuarter catalyst calendar →
  1. IMVT-1402 RA readout2H 2026IMVT-1402 RA readout, 2H 2026, material

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (5 active programs)

Discontinued (2)

Capital (as filed)

Cash
$798M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$124M quarter to Jun 30, 2026 (10-Q)
As stated in coverage
$798M cash per the update of Sep 23, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (6)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (6 calls)

Every verdict Biotech Distilled has published on Immunovant, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-02-02 Buy core Immunovant (IMVT): Scientific Deep Dive for IMVT-1402 and Pipeline Products IMVT-1402's engineered fix for batoclimab's lipid/albumin safety flaws creates an asymmetric entry point despite HanAll legal risk, backed by a $1B+ cash fortress.
  2. 2026-02-07 Buy core UPDATE: Immunovant (IMVT) - Quarterly Update Q3 earnings confirm $1.03B cash fortress, all six IMVT-1402 trials enrolling on schedule, and HanAll legal situation stable — thesis fully intact.
  3. 2026-04-04 Buy core UPDATE: Immunovant (IMVT) - The Bato Swan Song and the Pivot to Purity Batoclimab's Phase 3 TED data validated the anti-FcRn mechanism while confirming the lipid flaw; any market misreading of this as a company failure is a buying opportunity for the IMVT-1402 thesis.
  4. 2026-05-20 Buy core UPDATE: Immunovant (IMVT) - The Bio-Better Bet Cashes Its First Check IMVT-1402's first sick-patient efficacy data (D2T RA Period 1) confirmed the clean safety profile held, de-risking the central bear case, though the entry is less generous post-25-30% pop and HanAll posture hardened to pre-litigation.
  5. 2026-08-07 Buy core UPDATE: Immunovant (IMVT) - The Quarter Where the Burn Got Real No new data or safety signals across six trials, HanAll escalation paused for a full quarter, but burn accelerated to ~$124M/quarter and management flagged potential expansion of late-stage spend, quietly reopening the dilution question.
  6. 2026-09-23 Hold UPDATE: Immunovant (IMVT) - The First Placebo Test Comes Back Empty IMVT-1402 missed its first placebo-controlled efficacy test (CLE), concentrating binary risk on D2T RA Period 2; the Graves' disease long-term thesis is intact but the near-term setup warrants waiting for the placebo print rather than buying the dip.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Filings & releases (12)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Jul 23, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

2 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)