Monitor upcoming catalysts: brepocitinib PDUFA decision (H2 2026), IMVT-1402 D2T RA Period 2 data (H2 2026), and mosliciguat PH-ILD readout. The $4.3B cash runway supports multiple value-creating milestones without near-term dilution risk.
Price Chart
Executive Summary
Roivant Sciences reported Q4 FY2026 GAAP EPS of $0.43 (including a $770M litigation settlement gain) vs consensus of -$0.35, but non-GAAP loss from operations widened to $222.7M. Revenue fell 67% YoY to $2.5M due to prior-year Telavant milestone. Key pipeline catalysts include positive IMVT-1402 D2T RA data, brepocitinib NDA acceptance with Priority Review, and the $2.25B Moderna settlement, providing a strong cash runway of $4.3B into profitability.
Key Financial Metrics
Key Facts
- GAAP EPS from continuing ops: $0.43 (basic) vs consensus -$0.35, boosted by $770.2M litigation settlement gain.
- Non-GAAP adjusted loss from continuing ops: $222.7M for Q4 FY2026 vs $154.4M in Q4 FY2025.
- Revenue: $2.5M vs $7.6M YoY, down 67%, due to absence of milestones.
- Cash & marketable securities: $4.3B as of March 31, 2026.
- IMVT-1402 in D2T RA showed 72.7% ACR20, 54.5% ACR50, 35.8% ACR70 at Week 16.
- Brepocitinib NDA for dermatomyositis accepted with Priority Review; launch expected by September 2026.
- Moderna settlement: $950M non-contingent payment due July 2026, plus up to $1.3B contingent.
- Mosliciguat PH-ILD trial fully enrolled; topline data expected H2 2026.
Financial Impact
Non-GAAP operating loss widened $68M YoY to $222.7M; GAAP profitability driven by one-time litigation gain of $770M.
Risk Factors
- Brepocitinib NDA may face FDA delays or label restrictions.
- IMVT-1402 randomized Period 2 results could fail to differentiate from placebo.
- Revenue decline exposes lack of recurring commercial revenue; reliance on pipeline success.
- Moderna's $1.3B contingent payment depends on favorable Section 1498 appeal outcome.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3298334 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $36.80 | awaiting T+20 | — | $36.05 (−2.04%) |
Oct 5, 2026 21d ago | Insider Cluster | $35.53 | awaiting T+20 | — | $36.05 (−1.46%) |
Sep 17, 2026 5w ago | Insider Cluster | $39.77 $33.53 | ▼ −15.69% | ▼ −15.89% | $36.05 (−9.35%) |
Sep 17, 2026 5w ago | Insider Cluster | $39.77 $33.53 | ▼ −15.69% | ▼ −15.89% | $36.05 (−9.35%) |
Sep 17, 2026 5w ago | Insider Cluster | $39.77 $33.53 | ▼ −15.69% | ▼ −15.89% | $36.05 (−9.35%) |
Sep 1, 2026 7w ago | Insider Cluster | $34.18 $36.57 | ▲ +6.99% | ▲ +7.32% | $36.05 (+5.47%) |
Aug 27, 2026 8w ago | Press Release | $37.58 $36.13 | ▼ −3.86% | ▼ −3.35% | $36.05 (−4.07%) |
Aug 27, 2026 8w ago | Press Release | $37.58 $36.13 | ▼ −3.86% | ▼ −3.35% | $36.05 (−4.07%) |
Aug 26, 2026 8w ago | Press Release | $36.75 $38.99 | ▲ +6.10% | ▲ +4.89% | $36.05 (−1.90%) |
Aug 6, 2026 11w ago | 8-K | $35.12 $34.41 | ▼ −2.02% | ▼ −2.62% | $36.05 (+2.65%) |
US Market Status
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