Why Did Roivant Sciences Stock Gain 9% Pre-Market Today?
Synopsis
The company reported the Phase 2 clinical results for its experimental oral therapy brepocitinib, along with third-quarter financial data.
Roivant Sciences (ROIV) on Friday reported encouraging Phase 2 clinical results for its experimental oral therapy brepocitinib in adults with cutaneous sarcoidosis, while also releasing its fiscal third quarter (Q3) earnings.
The company reported a Q3 revenue of $1.9 million and a loss per share (EPS) of $0.38. Revenue came in below the analysts’ consensus estimate of $6.14 million, while EPS surpassed the consensus, according to Fiscal AI data.
Positive BEACON Trial Outcomes
In the BEACON study, patients receiving the higher 45 mg dose of brepocitinib saw substantial reductions in skin disease activity compared with placebo, demonstrating statistically meaningful benefits as early as four weeks and maintained through week 16.
Following the update, Roivant stock traded over 9% higher in Friday’s pre-market.
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