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Immunovant Announces Phase 3 Study Results for Batoclimab in Thyroid Eye Disease (TED)

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Positive)

Immunovant (Nasdaq: IMVT) reported topline results from two Phase 3 studies of batoclimab in active, moderate-to-severe thyroid eye disease (TED) on April 2, 2026. Both studies failed to meet the prespecified primary endpoint of ≥2mm proptosis responder rate at Week 24.

Safety was consistent with prior findings and no new safety signals were identified. Patients showed greater proptosis improvement after the initial 12-week high-dose period versus the subsequent 12-week low-dose period. A hyperthyroid subset had thyroid hormone normalization rates similar to prior Phase 2 Graves’ disease data. Immunovant will review batoclimab with partner HanAll and advances IMVT-1402 with topline Graves’ data expected in 2027.

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Positive

  • Safety profile consistent; no new safety signals
  • Greater proptosis improvement during 12-week high-dose period
  • Hyperthyroid subset showed thyroid hormone normalization similar to Phase 2
  • IMVT-1402 program advancing; topline Graves’ data expected in 2027

Negative

  • Both Phase 3 studies failed primary endpoint (≥2mm proptosis responder at Week 24)
  • Development plan for batoclimab will be reviewed with partner HanAll
  • Primary efficacy goal unmet despite high-dose response signal

Key Figures

Phase: Phase 3 Primary endpoint threshold: ≥2 mm High-dose duration: 12 weeks +3 more
6 metrics
Phase Phase 3 Batoclimab studies in thyroid eye disease (TED)
Primary endpoint threshold ≥2 mm Proptosis responder rate at Week 24 not met in Phase 3 TED
High-dose duration 12 weeks Initial high-dose batoclimab period in TED Phase 3 studies
Low-dose duration 12 weeks Subsequent low-dose batoclimab period in TED Phase 3 studies
Phase 2 reference Phase 2 Prior batoclimab Graves’ disease study with similar thyroid normalization rates
Topline data timing 2027 Expected topline data for potentially registrational IMVT-1402 Graves’ studies

Market Reality Check

Price: $25.10 Vol: Volume 699,164 vs 20-day ...
low vol
$25.10 Last Close
Volume Volume 699,164 vs 20-day average 1,302,667 (relative volume 0.54) ahead of this news. low
Technical Price $25.10 is trading above the 200-day MA of $21.13 and 14.19% below the 52-week high of $29.25.

Peers on Argus

IMVT was up 1.05% pre-news with mixed peer moves: SLNO up 8.59%, MLYS down 5.71%...

IMVT was up 1.05% pre-news with mixed peer moves: SLNO up 8.59%, MLYS down 5.71%, SRRK down 1.06%, VKTX and APLS near flat. No coordinated sector trend indicated.

Previous Clinical trial Reports

1 past event · Latest: Oct 29 (Positive)
Same Type Pattern 1 events
Date Event Sentiment Move Catalyst
Oct 29 Clinical data preview Positive -0.2% Announcement of late-breaking Phase 2a batoclimab Graves’ data presentation.
Pattern Detected

Past clinical-trial news for IMVT showed a slightly negative move despite neutral-to-positive updates.

Recent Company History

Recent IMVT history around clinical data shows modest trading impact. A prior Oct 29, 2024 clinical-trial update on batoclimab in Graves’ disease, tied to an oral presentation at the ATA meeting, saw a -0.23% move. Today’s TED Phase 3 topline adds to the batoclimab dataset while the company simultaneously emphasizes advancing IMVT-1402 in Graves’ disease and other autoimmune indications.

Historical Comparison

-0.2% avg move · Past clinical-trial news for IMVT (avg move -0.23%) generated only mild price reaction. The TED Phas...
clinical trial
-0.2%
Average Historical Move clinical trial

Past clinical-trial news for IMVT (avg move -0.23%) generated only mild price reaction. The TED Phase 3 topline extends the batoclimab story while IMVT increasingly highlights IMVT-1402 and Graves’ disease.

Historical clinical news centered on Phase 2a batoclimab data in Graves’ disease. The current release reports Phase 3 TED results for batoclimab while reiterating a strategic shift toward IMVT-1402, including potentially registrational Graves’ disease studies with topline data expected in 2027.

Market Pulse Summary

This announcement reports that both Phase 3 TED studies of batoclimab failed their primary ≥2 mm pro...
Analysis

This announcement reports that both Phase 3 TED studies of batoclimab failed their primary ≥2 mm proptosis endpoint at Week 24, while safety remained consistent with prior findings. IMVT highlights stronger proptosis gains during the initial 12-week high-dose period and reiterates its focus on IMVT-1402, including potentially registrational Graves’ disease studies with topline data expected in 2027. Investors may watch future updates on batoclimab’s plans with HanAll and progression of IMVT-1402 across autoimmune indications.

Key Terms

thyroid eye disease, proptosis, graves’ disease, fcrn blocker
4 terms
thyroid eye disease medical
"Phase 3 studies of batoclimab in thyroid eye disease (TED) each failed to meet"
An autoimmune condition where the body’s immune system causes inflammation and swelling in the tissues around the eyes, often producing pain, redness, bulging, double vision or vision loss. Investors care because the condition creates demand for drugs, surgeries and long-term care; clinical trial results, regulatory approvals, pricing and the number of affected patients can directly affect the revenue prospects and stock value of companies developing treatments.
proptosis medical
"primary endpoint of ≥2mm proptosis responder rate at Week 24, following 12 weeks"
Proptosis is the abnormal forward bulging or protrusion of one or both eyeballs from their sockets, like a picture frame pushed out of a wall. It matters to investors because it is a visible symptom of underlying conditions (such as thyroid eye disease, tumors, inflammation or trauma) that can drive demand for drugs, surgeries, diagnostic tests and devices; the symptom’s severity and prevalence affect market size, clinical trial design, regulatory scrutiny and reimbursement prospects.
graves’ disease medical
"seen in the batoclimab Phase 2 study in Graves’ diseaseImmunovant remains focused"
An autoimmune condition in which the body's immune system wrongly stimulates the thyroid gland, causing it to run too fast and produce excess hormones that can lead to rapid heartbeat, weight loss, fatigue and eye irritation. Investors care because it creates steady demand for diagnostics, medicines, surgical and monitoring services and can drive clinical trials, regulatory decisions and healthcare spending—think of it as a thermostat stuck too high that requires ongoing fixes and products to manage.
fcrn blocker medical
"IMVT-1402, an investigational FcRn blocker, across multiple autoimmune diseases"
A fcrn blocker is a type of drug that interferes with the neonatal Fc receptor, a body ‘recycling’ system that preserves antibodies in the blood; by blocking it, the medicine lowers overall antibody levels, including harmful ones. Investors care because these drugs can treat a range of autoimmune and antibody-driven disorders; success or failure in clinical trials, regulatory approvals, or pricing can strongly affect a developer’s commercial prospects and valuation, much like a new technology that cuts demand for a common resource.

AI-generated analysis. Not financial advice.

  • Phase 3 studies of batoclimab in thyroid eye disease (TED) each failed to meet their primary endpoint; safety results were consistent with previous findings
  • Patients in the TED studies demonstrated greater levels of proptosis improvement from baseline after the initial 12-week high-dose period than after the following 12-week low-dose period, supporting the benefit of deeper IgG suppression. The hyperthyroid patients in the TED studies showed similar response rates of thyroid hormone normalization to those seen in the batoclimab Phase 2 study in Graves’ disease
  • Immunovant remains focused on rapid advancement of IMVT-1402 in multiple indications

DURHAM, N.C., April 02, 2026 (GLOBE NEWSWIRE) -- Immunovant, Inc. (Nasdaq: IMVT), a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases, today reported the topline results from its two Phase 3 (GO) clinical studies evaluating batoclimab as an investigational treatment for adults with active, moderate-to-severe thyroid eye disease (TED).

Based on the pre-specified statistical analysis plan, the studies failed to meet their primary endpoint of 2mm proptosis responder rate at Week 24, following 12 weeks of high-dose and 12 weeks of low-dose batoclimab treatment. Safety results were consistent with previous findings, and no new safety signals were identified.

Patients in the TED studies had greater levels of proptosis improvement from baseline after the initial 12-week high-dose period than after the following 12-week low-dose period, supporting the benefit of deeper IgG suppression.

The subset of hyperthyroid patients in the TED studies showed similar response rates of thyroid hormone normalization to those seen in the batoclimab Phase 2 study in Graves’ disease.

Immunovant remains focused on rapidly advancing the clinical development of IMVT-1402, an investigational FcRn blocker, across multiple autoimmune diseases with significant unmet need, with Graves’ disease as a key strategic priority. Recent Phase 2 proof-of-concept data highlighted FcRn blockade as a potentially disease-modifying approach in Graves’ disease. Topline data from the potentially registrational studies of IMVT-1402 in Graves’ disease are expected in calendar year 2027.

Immunovant intends to review future plans for the development of batoclimab with its partner HanAll Biopharma Co., Ltd. (HanAll) and to provide an update on the program, in conjunction with HanAll, at a future date.

About Immunovant, Inc.

Immunovant, Inc. is a clinical-stage immunology company dedicated to enabling normal lives for people with autoimmune diseases. As a trailblazer in anti-FcRn technology, the Company is developing innovative, targeted therapies to meet the complex and variable needs of people with autoimmune diseases. For additional information on the Company, please visit immunovant.com.

Investor Conference Call Information

Roivant will host a live conference call and webcast at 8:00 a.m. ET on Thursday, April 2, 2026, to discuss these updates.

To access the conference call by phone, please register online using this registration link. The presentation and webcast details will also be available under “Events & Presentations” in the Investors section of the Roivant website at https://investor.roivant.com/news-events/events. The archived webcast will be available on Roivant’s website after the conference call.

Forward-looking statements

This press release contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as “can, ” “may,” “might,” “will,” “would,” “should,” “expect,” “believe,” “estimate,” “design,” “plan,” “intend, ” and other similar expressions are intended to identify forward-looking statements. Such forward looking statements include Immunovant’s expectations regarding the potential clinical and therapeutic benefits of its product candidates, statements regarding Immunovant’s progress towards developing IMVT-1402 across a broad range of indications; Immunovant’s expectations regarding the availability of results of clinical trials of IMVT-1402 in Graves’ disease; and the Company’s plans with its partner HanAll. All forward-looking statements are based on estimates and assumptions by Immunovant’s management that, although Immunovant believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Immunovant expected. Such risks and uncertainties include, among others: Immunovant may not be able to protect or enforce its intellectual property rights; initial results or other preliminary analyses or results of early clinical trials may not be predictive final trial results or of the results of later clinical trials; the timing and availability of data from clinical trials; the timing of discussions with regulatory agencies, as well as regulatory submissions and potential approvals; the continued development of Immunovant’s product candidates, including the number and timing of the commencement of additional clinical trials; Immunovant’s scientific approach, clinical trial design, indication selection, and general development progress; future clinical trials may not confirm any safety, potency, or other product characteristics described or assumed in this press release; any product candidate that Immunovant develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; Immunovant’s product candidates may not be beneficial to patients, or even if approved by regulatory authorities, successfully commercialized; the potential impact of global factors, such as international trade tariffs, geopolitical tensions, and adverse macroeconomic conditions on Immunovant’s business operations and supply chain, including its clinical development plans and timelines; Immunovant’s business is heavily dependent on the successful development, regulatory approval, and commercialization of IMVT-1402; Immunovant is at various stages of clinical development for IMVT-1402 and batoclimab; and Immunovant will require additional capital to fund its operations and advance IMVT-1402 and batoclimab through clinical development. These and other risks and uncertainties are more fully described in Immunovant’s periodic and other reports filed with the Securities and Exchange Commission (SEC), including in the section titled “Risk Factors” in Immunovant’s Annual Report on Form 10-K filed with the SEC on May 29, 2025, and Immunovant’s subsequent filings with the SEC. Any forward-looking statement speaks only as of the date on which it was made. Immunovant undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts:
Investors
Keyur Parekh
keyur.parekh@roivant.com

Media
Stephanie Lee
stephanie.lee@roivant.com


FAQ

What were the Phase 3 results for Immunovant's batoclimab in TED (IMVT) announced April 2, 2026?

Both Phase 3 studies failed to meet the prespecified ≥2mm proptosis responder rate at Week 24. According to Immunovant, safety results were consistent with prior findings and no new safety signals were identified.

Did batoclimab show any positive effects in the Phase 3 TED studies (IMVT) despite missing the primary endpoint?

Yes — patients had greater proptosis improvement after the initial 12-week high-dose period than after the low-dose period. According to Immunovant, this supports benefit of deeper IgG suppression.

How did hyperthyroid patients respond in the batoclimab TED Phase 3 studies (IMVT)?

The hyperthyroid subset showed thyroid hormone normalization rates similar to prior Phase 2 Graves’ disease results. According to Immunovant, response rates matched those seen in the Phase 2 Graves’ study.

What will Immunovant do next with batoclimab after the April 2, 2026 Phase 3 results (IMVT)?

Immunovant intends to review future development plans for batoclimab with partner HanAll and provide a joint program update later. According to Immunovant, a review with HanAll is planned before next steps.

How does the batoclimab outcome affect Immunovant's pipeline and timelines for IMVT-1402 (IMVT)?

Immunovant remains focused on advancing IMVT-1402 across autoimmune indications, with topline Graves’ data expected in calendar year 2027. According to Immunovant, IMVT-1402 is a key strategic priority.
Immunovant Inc

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5.06B
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Biotechnology
Biological Products, (no Diagnostic Substances)
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United States
DURHAM