Immunovant Shares Drop as Eye Disease Therapy Fails Trials
Immunovant shares fell 14.3% as its therapy failed to meet goals in two late-stage trials. The firm will review the program with partner HanAll Biopharma.
Shares of IMMUNOVANT INC fell 14.3% in premarket trading on Thursday after the company reported that its treatment for thyroid eye disease failed to meet its primary goals in two late-stage clinical trials. The studies were evaluating batoclimab, a therapy designed to treat the autoimmune disorder that causes proptosis, or eye bulging, and can lead to vision loss in severe cases.
The trials failed to achieve the main objective of a 2 millimeter reduction in eye bulging after a 24-week treatment cycle, which consisted of 12 weeks of high-dose followed by 12 weeks of low-dose therapy. Batoclimab is designed to block a protein that keeps harmful antibodies in circulation, helping the body clear them. While the efficacy targets were not met, the company noted that the safety profile remained stable and consistent with previous findings.
