Roivant Sciences Ltd. (ROIV) is a biopharmaceutical company dedicated to improving patient health by accelerating the development and commercialization of innovative medicines and technologies. The company operates through a unique model of creating subsidiaries, known as "Vants," which focus on specific medicines and technologies. Roivant's offerings include FDA-approved treatments for dermatological conditions and collaborations in drug development, alongside investments in health technology startups.
- Product Revenue - Generates income primarily from the sale of VTAMA\u00ae (tapinarof), a topical treatment for plaque psoriasis in adults, with additional potential applications for atopic dermatitis pending regulatory approval.
- License, Milestone, and Other Revenue - Includes income from licensing agreements and milestone payments, such as collaborations with partners like Japan Tobacco Inc..
- Technology Vants - Develops and deploys health technology solutions aimed at improving the efficiency of drug development and commercialization processes.
- Incubation of Startups - Supports discovery-stage companies and health technology startups that align with its mission to enhance healthcare innovation.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Eric Venker Executive | President and Chief Operating Officer | Board Member at Immunovant, Inc. and several private biopharmaceutical companies | Eric Venker joined Roivant in 2014 and has held various roles, including COO. He has a background in medicine and pharmacy, with degrees from Yale and St. Louis College of Pharmacy. | |
Matthew Gline Executive | Chief Executive Officer | Board Member at Datavant | Matthew Gline has been the CEO of Roivant since January 2021. He joined Roivant in March 2016 and previously served as CFO. He has a background in finance and risk analytics, having worked at Goldman Sachs and co-founded Fourthree. | View Report → |
Mayukh Sukhatme Executive | President and Chief Investment Officer | Board Member at Immunovant, Inc. and several private biopharmaceutical companies | Mayukh Sukhatme joined Roivant in 2015. He has been instrumental in capital allocation and development strategies, leading to multiple FDA approvals and positive Phase 3 studies. He holds an M.D. from Harvard Medical School. | |
Rakhi Kumar Executive | Chief Accounting Officer | Board Member at NeuroPace, Inc. and Roivant Social Ventures | Rakhi Kumar has been CAO since August 2018, leading accounting and financial operations. She has prior experience at The Medicines Company and Ernst & Young. | |
Richard Pulik Executive | Chief Financial Officer | None | Richard Pulik became CFO in October 2021. He previously held senior roles at Novartis and has a background in finance and business development. | |
Daniel Gold Board | Director | CEO of QVT Financial LP, Board Member at Okeanis Eco Tankers Corp., Awilco Drilling PLC, NAXS AB | Daniel Gold has been a Director since 2020. He is the founder and CEO of QVT Financial LP and has a background in investment across various industries. | |
Ilan Oren Board | Chair of the Board of Directors | Co-CEO of Dexcel Pharma, Board Member at Clexio Biosciences and Kriya Therapeutics | Ilan Oren has been a Director since 2014 and Chair since 2023. He has extensive experience in the pharmaceutical industry and holds an A.B. in Economics from Harvard. | |
James C. Momtazee Board | Director | Managing Partner of Patient Square Capital, Board Member at BridgeBio Pharma, Apollo Therapeutics, Kriya Therapeutics, Medical Device Manufacturers Association | James C. Momtazee has been a Director since September 2021. He has over 28 years of investment experience, primarily in healthcare. | |
Meghan FitzGerald Board | Director | Board Member at Tenet Healthcare, Founder of K2HealthVentures, Adjunct Professor at Columbia University | Meghan FitzGerald joined the Board in March 2023. She has extensive experience in healthcare strategy and investment. | |
Melissa Epperly Board | Director | Board Member at Kinnate Biopharma Inc. and Nautilus Biotechnology | Melissa Epperly joined as a Director in June 2022. She has a background in finance, having served as CFO at Zentalis Pharmaceuticals and other companies. |
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Can you elaborate on your commitment to advance 1402 into myasthenia gravis (MG) and chronic inflammatory demyelinating polyneuropathy (CIDP), regardless of the upcoming data from the high-dose batoclimab studies? Will you proceed with pivotal studies in both indications even if the data doesn't meet expectations?
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Given the recent investment you made in Immunovant before the release of critical data, can you explain the rationale behind this timing? If you believe the valuation is attractive, why not acquire the entire asset now and capitalize on the potential pricing dislocation?
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With the initiation of the Phase II BEACON study in cutaneous sarcoidosis, which seems relatively small, can you discuss how the trial is powered, particularly on the CSAMI score? How do you anticipate the placebo group will perform, and does this indication leverage existing infrastructure from Kinevant?
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As you await the top-line dermatomyositis (DM) Phase III readout in the second half of 2025, how do you assess the competitive landscape, especially if Argenx successfully completes its own Phase III in DM? What are your expectations for brepocitinib in this context?
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Regarding the upcoming LNP litigation summary judgment, can you help us understand the possible range of outcomes? Is there a scenario where Moderna or the U.S. government would be liable for all patent infringement liabilities, or could there be partial liability based on contract terms?
Research analysts who have asked questions during Roivant Sciences earnings calls.
Brian Cheng
JPMorgan Chase & Co.
4 questions for ROIV
Douglas Tsao
H.C. Wainwright & Co.
4 questions for ROIV
David Risinger
Leerink Partners
3 questions for ROIV
Dennis Ding
Jefferies Financial Group Inc.
3 questions for ROIV
Yaron Werber
TD Cowen
3 questions for ROIV
Yatin Suneja
Guggenheim Partners
3 questions for ROIV
Andy Chen
Wolfe Research, LLC
2 questions for ROIV
Emma Gutstein
Wolfe Research
2 questions for ROIV
Prakhar Agrawal
Cantor Fitzgerald
2 questions for ROIV
Sam Slutsky
LifeSci Capital, LLC
2 questions for ROIV
Yasmeen Rahimi
Piper Sandler & Co.
2 questions for ROIV
Anthea
Jefferies
1 question for ROIV
Corinne Johnson
Goldman Sachs
1 question for ROIV
Craig McLean
Goldman Sachs
1 question for ROIV
Joyce Zhou
TD Cowen
1 question for ROIV
Louise Chen
Cantor Fitzgerald
1 question for ROIV
Thomas J. Smith
Leerink Partners
1 question for ROIV
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
ZORYVE (roflumilast) | A topical PDE4 inhibitor, identified as a potential competitor to VTAMA. |
OPZELURA (ruxolitinib) | A topical Janus kinase inhibitor, identified as a potential competitor to VTAMA. |
VYVGART (efgartigimod alfa-fcab) and VYVGART Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) | Neonatal Fc receptor blockers, identified as potential competitors to IMVT-1402 and batoclimab. |
Nipocalimab and RYSTIGGO (rozanolixizumab-noli) | Anti-FcRn antibodies, identified as potential competitors to IMVT-1402 and batoclimab. |
TEPEZZA (teprotumumab-trbw) | An insulin-like growth factor-1 receptor inhibitor, identified as a potential competitor to batoclimab. |
Dazukibart | An interferon beta (IFN-beta) inhibitor, identified as a potential competitor to brepocitinib. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Silicon Therapeutics LLC | 2021 | Completed in March 2021, the deal was valued at approximately $450.0 million with a structured payment of $350.0 million in common stock at closing and a $100.0 million tranche made later in cash and shares, with the fair value of the consideration being $402.4 million mainly attributed to IPR&D. |
CF Principal Investments, LLC | 2022 | Planned as of February 2022, the agreement established a committed equity facility of up to $250.0 million with an initial issuance of 145,986 common shares priced at 99% of VWAP, which was later terminated on September 21, 2022 in favor of a new sales agreement. |
Recent press releases and 8-K filings for ROIV.
- Roivant announced positive BREPO data for Dermatomyositis (DM), positioning it as the first novel targeted therapy successful in a late-stage study for DM, targeting an estimated 35,000 to 40,000 treated patients. The drug has IP protection through 2039 and is also in registrational studies for non-infectious uveitis (NIU), with data expected H1 2027.
- The company is developing RVL-1402 for Graves' disease, with Phase 2 data showing 56% of patients achieved T3/T4 normalization and were off ATDs at week 12. This therapy aims to address a significant prevalent patient population of 330,000 uncontrolled patients on methimazole.
- Roivant is engaged in LMP litigation with Moderna, where the applicability of the Section 1498 government contractor defense is a key issue, potentially covering $2.4 billion of the $5 billion in damages. A ruling on this is anticipated from the judge, potentially this fall or early next year. Claim construction rulings in the Pfizer matter were favorable to Roivant.
- The company is also advancing its FcRn program in Myasthenia Gravis (MG) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP), and its SGC program in PH-ILD, with Phase 2 data for the latter expected H2 2026.
- Roivant's Priovant subsidiary announced successful Phase 3 VALOR study results for Brepocitinib in Dermatomyositis (DM), marking the first successful registrational trial for a targeted therapy in DM.
- The study demonstrated highly significant, robust, and consistent data across primary and all key secondary endpoints. Brepocitinib 30 mg showed a mean Total Improvement Score (TIS) of 46.5 compared to 31.2 for placebo at week 52 (p=0.0006).
- A FDA filing for Brepocitinib in DM is planned for 1H 2026, positioning it as the first novel oral DM drug with a multi-year lead over other late-stage programs.
- The safety profile of Brepocitinib 30 mg in VALOR was consistent with prior clinical studies, and responses were rapid, deep, and broad, showing clinically meaningful benefit to both muscle and skin symptoms.
- Roivant and Priovant Therapeutics announced positive results from the Phase 3 VALOR study evaluating brepocitinib in dermatomyositis (DM).
- Brepocitinib 30 mg demonstrated clinically meaningful and statistically significant improvement compared to placebo on the primary endpoint, achieving a week 52 mean Total Improvement Score (TIS) of 46.5 compared to 31.2 for placebo (p=0.0006).
- The safety profile of brepocitinib 30 mg was consistent with previous clinical trials, and an NDA filing is planned for calendar 1H 2026.
- This study represents the first ever positive outcome for a 52-week placebo-controlled trial in DM and the first positive registrational trial for a targeted therapy in DM.
- Immunovant, a Roivant company, announced positive six-month off-treatment data for batoclimab in uncontrolled Graves' disease, with ~80% (17/21) of patients maintaining normal thyroid function and ~50% (8/17) of responders achieving anti-thyroid drug (ATD) free remission.
- These results indicate batoclimab's potential as the first-ever disease-modifying therapy for uncontrolled Graves' disease patients.
- Immunovant is currently enrolling two potentially registrational trials for IMVT-1402, with topline readouts anticipated in 2027.
- Roivant Sciences reported a net loss of $170 million and cash utilization of approximately $200 million in Q1 2026, while maintaining a strong balance sheet with $4.5 billion in cash and no debt as of June 30.
- The company completed its $1 billion share repurchase program by June 2025, repurchasing just under 150 million shares at an average price of just over $10 per share, and authorized an additional $500 million repurchase program.
- Key clinical data for brepcitinib in dermatomyositis is expected in the second half of 2025, with a potential commercial launch to follow.
- Progress continues with Immunovant's IVT-1402, which has five ongoing registrational trials, and the LNP litigation with Moderna is scheduled for trial in March 2026.
- Roivant highlighted its progress in advancing brevacitinib through a Phase III study in dermatomyositis, focusing on a novel TIS endpoint and an aggressive steroid taper design.
- The company is also progressing its NIU (non-infectious uveitis) and cutaneous sarcoidosis programs, with robust Phase II data supporting these indications.
- Roivant detailed market opportunities in Graves’ disease and myasthenia gravis, noting potential pricing benchmarks compared to IVIG and FcRn therapies, while emphasizing the value of deeper IgG suppression data.
- Updates were provided on the upcoming Moderna litigation timeline and capital strategies, including significant stock buybacks and pipeline funding.
- Robust pipeline progress with advancements on multiple clinical fronts, notably the anti-FcRn program with IMVT-1402 targeting indications like MG, CIDP, and Graves' disease, and promising data expected for brepocitinib in dermatomyositis and other indications.
- Upcoming investor event on June 17 will detail the DM study design and potential registrational opportunities for brepocitinib, underscoring the company’s strategy in high unmet need markets.
- Strong capital position with nearly $5 billion cash on hand and a recent $1.3 billion share repurchase, reinforcing its focus on pipeline expansion and commercial readiness.
- Leadership Changes: Immunovant’s CEO Pete Salzmann is retiring; Eric Venker is the new CEO and Tiago Girao has been appointed CFO to drive the company's next phase
- Pipeline Focus & Expansion: The company is narrowing development to 6 indications—including registrational programs in Graves' disease, MG, and CIDP, plus POC studies in CLE—and expanding IMVT-1402 to target Sjögren’s Disease and Cutaneous Lupus Erythematosus to support growth
- Financial Guidance: Immunovant expects its cash runway to extend through major trial data readouts through 2027, with multiple catalyst events from 2026 onward
- Investor Call: A live investor call is scheduled for April 21, 2025, at 8 a.m. EDT to discuss these updates
- Phase 3 MG Study: Batoclimab met its primary endpoint in AChR+ myasthenia gravis patients with a 5.6-point improvement in MG-ADL at Week 12 for the 680mg arm and a 4.7-point improvement for the 340mg arm, demonstrating robust efficacy compared to placebo.
- Phase 2b CIDP Study: Initial data showed a 1.8-point improvement in aINCAT scores at Week 12 and an 84% responder rate among patients achieving >70% IgG reduction, indicating meaningful benefit in CIDP.
- The announcement underscores the company’s strategic focus on advancing next-generation FcRn inhibitors, with plans to leverage these results to guide further development of assets like IMVT-1402, while batoclimab is not being pursued for regulatory approval in these indications.