Immunovant Inc (NASDAQ:IMVT) shares are trading higher on Wednesday even though the company posted a wider fourth‑quarter loss than analysts expected.
- Immunovant shares are testing new highs. Why are IMVT shares at highs?
Strong Trial Results Take Center Stage
The company reported a quarterly loss of 73 cents per share, falling short of the 60 cents consensus estimate. Even so, traders pushed the stock higher as attention may have shifted to new results from the IMVT‑1402 program in difficult‑to‑treat rheumatoid arthritis (D2T RA). According to the filing, the therapy produced Week 16 ACR20, ACR50 and ACR70 response rates of 72.7%, 54.5% and 35.8%, respectively.
The document states that 86.7% of participants had failed two prior mechanisms of treatment, and the average time since diagnosis was nearly 13 years.