Pande Atul sold $65K of IMVT

Argenx (ARGX) shares fell 8.7% in pre-market trading after discontinuing a Phase 3 study for futility. Other stocks moving lower include Caribou Biosciences (CRBU), down 3.7% after a downgrade, and several others with declines ranging from 1.8% to 7.4%.

Immunovant (IMVT) reported a Phase 2b trial failure for IMVT-1402 in CLE, discontinuing development. Despite missing the primary endpoint, the drug showed positive trends and a favorable safety profile. IMVT-1402 is still being tested in five other autoimmune diseases, with data expected from 2027. The company has $797.8M in cash, and hedge fund interest has increased.

Immunovant stock fell 6.1% to $35.00 after its IMVT-1402 drug failed to meet the primary endpoint in a cutaneous lupus erythematosus trial. The company discontinued the program, though other indications remain unaffected. Parent company Roivant Sciences also saw shares decline. The broader market was slightly lower.

Immunovant (IMVT) shares dropped 6% after its IMVT-1402 drug failed to meet the primary endpoint in a lupus study. The company will halt development for this indication but continues other trials. The study enrolled 57 patients and showed numerical trends favoring IMVT-1402, though not statistically significant.

Roivant (ROIV) fell premarket after its subsidiary Immunovant (IMVT) reported a failed trial for IMVT-1402, a treatment for cutaneous lupus erythematosus, based on 12-week data.

Immunovant (IMVT) shares dropped 6% after its lupus drug trial failed to meet the primary endpoint. The study did not show statistical significance in improving CLE symptoms. The company plans to halt development of IMVT-1402 for this indication but will continue trials for other autoimmune diseases. According to Immunovant, the drug showed a favorable safety profile.