For people suffering from myasthenia gravis (mg) and other debilitating autoimmune disorders, daily life can be miserable. Patients suffering from mg complain about extreme muscle weakness and fatigue, which can make routine activities like chewing and swallowing very difficult to accomplish.
Immunovant (NASDAQ: IMVT) just reported after early-stage data from its experimental antibody treatment exceeded analysts’ expectations.
The drug developer, trading at $36, was set to add nearly $2 billion to its market capitalization if gains hold.
Immunovant is developing its antibody drug, IMVT-1402, as an under-the-skin injection to potentially treat autoimmune diseases.
The early data hit a “home-run” scenario, said J.P. Morgan analyst Brian Cheng, adding it supports the drug’s potential to be the best in its class if it succeeds in later studies. (Source: Reuters)
About Immunovant (IMVT):
Immunovant’s primary focus is on developing monoclonal antibody therapies to treat autoimmune diseases and other conditions related to the immune system.
These autoimmune disorders include:
- Myasthenia Gravis. Myasthenia gravis (MG)
- Chronic Inflammatory Demyelinating Polyneuropathy
- Thyroid Eye Disease
- Graves’ Disease
Shares of Immunovantskyrocketed over 100% from $19 to $40 on this news.
Can Immunovant continue to rise or will shares come back down to earth?
Stay tuned to Global Investment Daily as we monitor IMVT on our watchlist.