Immunovant, Inc. (NASDAQ: IMVT) shares jumped 20% on Wednesday after the company released encouraging preliminary results from its IMVT-1402 trial in difficult-to-treat rheumatoid arthritis.

Strong Response Rates Drive Investor Enthusiasm

The company announced that IMVT-1402 delivered ACR20, ACR50, and ACR70 response rates of 72.7%, 54.5%, and 35.8%, respectively, at Week 16 during the open label period of the trial. Notably, the study enrolled 170 participants who had previously failed two or more mechanisms of advanced therapies.

By the completion of Period 1, 165 of the 170 patients qualified as evaluable for ACR20 response. Furthermore, 86.7% of these patients had failed two prior mechanisms of advanced therapies, and the mean time since diagnosis stretched to 12.8 years. Baseline disease activity ran high across the cohort, as patients presented with mean counts of 24.2 tender joints, 16.7 swollen joints, and a DAS28-CRP score of 6.1.

Results Hold Up in Tougher Patient Subset

Among participants who had failed at least a JAK inhibitor and an anti-TNF inhibitor, IMVT-1402 still produced strong Week 16 observed ACR20, ACR50, and ACR70 response rates of 72.0%, 53.3%, and 37.4%, respectively. In addition, the drug proved safe and well-tolerated throughout the study, and investigators identified no new drug-related safety signals. Immunovant plans to share additional updates on the program in the second half of calendar year 2026.

Broader Pipeline Continues to Advance

Beyond the rheumatoid arthritis data, Immunovant confirmed that its IMVT-1402 proof-of-concept trial in cutaneous lupus erythematosus is now fully enrolled, with topline data expected in the second half of calendar year 2026. Meanwhile, clinical development timelines remain on track for IMVT-1402 across several other indications, including potentially registrational studies in Graves’ disease, myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, and Sjogren’s disease.

Financial Position Remains Solid Despite Wider Loss

On the financial side, Immunovant posted a net loss of $147.9 million, or $0.73 per share, for the fourth quarter ended March 31, 2026. By comparison, the company reported a net loss of $106.4 million, or $0.64 per share, during the same period last year. Nevertheless, Immunovant maintains a strong cash position, with approximately $902.1 million in cash and cash equivalents as of March 31, 2026.

About Immunovant

Immunovant Inc. is a clinical-stage immunology company, dedicated to enabling normal lives for people with autoimmune diseases. As trailblazers in anti FcRn technology, they are developing innovative, targeted therapies to meet the complex and variable needs of people with autoimmune diseases.

For more investor relations information about Immunovant Inc. please visit www.immunovant.com/investors.com.