We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Roivant (ROIV) Up on Reports of Colitis Drug Sale to Roche
Read MoreHide Full Article
Shares of Roivant (ROIV - Free Report) rose almost 12% on Thursday after a Wall Street Journal (WSJ) article reported that Roche (RHHBY - Free Report) was close to buying ROIV’s inflammatory bowel disease (IBD) candidate, RVT-3101, for more than $7 billion.
Image Source: Zacks Investment Research
RVT-3101, a once-monthly subcutaneously administered anti-TL1A antibody, is being developed in mid-stage studies for ulcerative colitis and Crohn’s disease. In the TUSCANY-2 phase IIb study in ulcerative colitis, RVT-3101 led to improved efficacy data from the induction period at week 14 to the chronic period at week 56. RVT-3101 was well tolerated in the study, with a favorable safety profile across all doses.
The data, announced last month, outperformed the company’s expectations. Roivant believes the data, if confirmed in phase III studies, has the potential to transform the treatment paradigm for IBD patients. Inflammatory bowel disease is an approximately $17 billion market in the United States alone and growing. Leading therapies generated more than $15 billion in U.S. sales in 2022.
Roivant is also conducting a phase IIb study in Crohn’s disease, the top-line data from which is expected to be released in the fourth quarter of 2024.
Roivant’s stock has risen 45.2% this year so far against a decrease of 10.1% for the industry.
The WSJ article mentioned that Roivant could announce the sale of the IBD drug to Roche “in the coming days.”
Roivant is developing RVT-3101 in partnership with Pfizer (PFE - Free Report) through a subsidiary called Telavant. Roivant also has another subsidiary with Pfizer called Priovant Therapeutics, which makes novel therapies for autoimmune diseases. Priovant Therapeutics’ lead compound, brepocitinib is being developed in a phase III study for the treatment of dermatomyositis.
Image: Bigstock
Roivant (ROIV) Up on Reports of Colitis Drug Sale to Roche
Shares of Roivant (ROIV - Free Report) rose almost 12% on Thursday after a Wall Street Journal (WSJ) article reported that Roche (RHHBY - Free Report) was close to buying ROIV’s inflammatory bowel disease (IBD) candidate, RVT-3101, for more than $7 billion.
Image Source: Zacks Investment Research
RVT-3101, a once-monthly subcutaneously administered anti-TL1A antibody, is being developed in mid-stage studies for ulcerative colitis and Crohn’s disease. In the TUSCANY-2 phase IIb study in ulcerative colitis, RVT-3101 led to improved efficacy data from the induction period at week 14 to the chronic period at week 56. RVT-3101 was well tolerated in the study, with a favorable safety profile across all doses.
The data, announced last month, outperformed the company’s expectations. Roivant believes the data, if confirmed in phase III studies, has the potential to transform the treatment paradigm for IBD patients. Inflammatory bowel disease is an approximately $17 billion market in the United States alone and growing. Leading therapies generated more than $15 billion in U.S. sales in 2022.
Roivant is also conducting a phase IIb study in Crohn’s disease, the top-line data from which is expected to be released in the fourth quarter of 2024.
Roivant’s stock has risen 45.2% this year so far against a decrease of 10.1% for the industry.
The WSJ article mentioned that Roivant could announce the sale of the IBD drug to Roche “in the coming days.”
Roivant is developing RVT-3101 in partnership with Pfizer (PFE - Free Report) through a subsidiary called Telavant. Roivant also has another subsidiary with Pfizer called Priovant Therapeutics, which makes novel therapies for autoimmune diseases. Priovant Therapeutics’ lead compound, brepocitinib is being developed in a phase III study for the treatment of dermatomyositis.
Zacks Rank
Roivant currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.