In the premarket session, Immunovant Inc. (IMVT) stock was trading in the red as it fell dramatically 60% to $17.00. Meanwhile, a stock recorded a -12.22% loss in the past month and a 91.51% gain in the past six months. Recent volatility for IMVT is estimated to have been 8.25% in the past week and 6.59% in the past month.
What happened recently…
Today, it was revealed that in the ongoing clinical trials for IMVT-1401, Immunovant (Nasdaq: IMVT) announced a voluntary pause in dosing.
The Company has observed elevated total cholesterol and low-density lipoprotein cholesterol levels in IMVT-1401-treated patients in ASCEND GO-2, a Phase 2b trial in Thyroid Eye Disease (TED). A previous clinical trial involving IMVT-1401 in Myasthenia Gravis (MG) and controls did not include any cholesterol levels measurement. To be cautious, the Company will adjust the monitoring procedure for both TED and Warm Autoimmune Hemolytic Anemia while educating patients, investigators, and regulators.
To learn more about the mechanism of these lipid changes and their effect across indications, the Company will work closely with regulators and scientific experts. With the consent of regulators, the Company aims to continue developing IMVT-1401.
On February 2 at 8:00 EST, Immunovant will host a conference call. Following prepared remarks, the call will include a live question-and-answer session for the investment community.