Immunovant Announces Roivant President Eric Venker As New CEO: Retail’s Elated
Synopsis
Immunovant stated that these changes are part of its parent entity, Roivant, increasing operational involvement and strategic oversight of the company.
Immunovant, Inc. (IMVT) announced on Monday that Roivant President Eric Venker will succeed Pete Salzmann as the new CEO, following Salzmann's retirement from his role.
Venker, meanwhile, will continue to serve on Immunovant’s Board of Directors.
Tiago Girao will be the company’s new CFO, replacing Renee Barnett. Girao was formerly the CFO of biopharmaceutical company Telavant Holdings.
Immunovant stated that these changes are part of its parent company, Roivant, increasing operational involvement and strategic oversight of the company.
George Migausky has stepped down from the Immunovant board of directors, and Robert Susman and Jacob Bauer have joined the board, effective April 18, 2025, the company added.
Immunovant is a clinical-stage immunology company developing innovative, targeted therapies to meet the complex and variable needs of people with autoimmune diseases.
The company now plans to study its IMVT-1402, an anti-FcRn antibody for the treatment of IgG-mediated autoimmune diseases, in the treatment of Sjögren’s disease and Cutaneous Lupus Erythematosus as well. No therapies have been explicitly approved for the treatment of Sjögren’s disease to date, it said.
The company said it is beginning to conclude development activities for batoclimab, an anti-FcRn monoclonal antibody.
Venker said that Immunovant has shown “compelling efficacy data” in clinical trials for batoclimab in Myasthenia Gravis, Chronic Inflammatory Demyelinating Polyneuropathy, Graves’ Disease, and Thyroid Eye Disease.
Immunovant said that its current cash balance is expected to provide a runway till 2027.
On Stocktwits, retail sentiment around the stock jumped from ‘bearish’ to ‘bullish’ territory while message volume remained at ‘extremely low’ levels.
IMVT stock is down by over 40% so far this year and by over 45% over the past 12 months.
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