Strong Cash Position and Capital Allocation
Roivant has just under $5 billion in cash with no debt, supporting the current pipeline to profitability. $2 billion is reserved for pipeline expansion, and the company has repurchased $1.3 billion of its own stock, reducing the share count by nearly 15%.
Promising Pipeline Developments
The company is excited about the upcoming registrational data from the Brepocitinib study in dermatomyositis, a potential first novel oral DM drug. IMVT-1402 is seen as a potential best-in-class anti-FcRn with multiple indications in play.
Advancements in FcRn Franchise
Roivant's IMVT-1402 is claimed to have a favorable safety profile and robust IgG lowering, with ongoing clinical progress across multiple indications including Graves' disease and Sjogren's.
Ongoing Litigation
Roivant is in the narrowing and summary judgment phase of its LNP litigation with Moderna and Pfizer/BioNTech, expected to move to trial soon.