ROIV Stock Recent News

BASEL, Switzerland and LONDON and NEW YORK and BOSTON, June 26, 2023 (GLOBE NEWSWIRE) -- Roivant Sciences (Nasdaq: ROIV) today announced that it will host a live conference call and webcast at 8:00 a.m. ET on Wednesday, June 28, 2023, to report its financial results for the fourth quarter and fiscal year ended March 31, 2023, and provide business update.

Roivant Sciences announced positive long-term data for its midstage ulcerative colitis drug. Investors are bidding the biopharma's shares up in response to this latest clinical update.

Shares of Roivant Sciences Ltd. ROIV, -2.66% gained 14% in premarket trading Thursday after the company released new long-duration data from a study of its monoclonal antibody RVT-3101 in adults with ulcerative colitis.

Roivant Sciences recently won approval for a topical cream, VTAMA, that looks set to achieve blockbuster (>$1bn per annum) sales. The company has several other highly promising late-stage clinical assets with blockbuster potential, and multiple data readouts upcoming.

Last December, Pfizer formed a new company with Roivant Sciences to trial an experimental IBD medication. The therapy sports a novel mechanism of action and it could be used to treat dozens of high-value indications.

Merck's decision to pay top dollar for a late-stage asset is sparking a wave of bargain buying in biotech today. Agenus, Inovio Pharmaceuticals, and Roivant Sciences are three of the biggest beneficiaries of the industrywide trend.

Roivant Sciences shares took off on the news that Merck is acquiring Prometheus Biosciences in a $10.8 billion deal as investors placed their bets on which of the two companies could be first to bring to market their promising bowel disease drug candidate.   The acquisition adds Prometheus' monoclonal antibody treatment PRA023 being developed for ulcerative colitis (UC), Crohn's disease, and systematic sclerosis-associated interstitial lung disease to Merck's drug pipeline.

Roivant Sciences Ltd. (ROIV) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Roivant Sciences' shares are up more than 42% over the past year. The company recently released a report on a phase 3 trial of its atopic dermatitis treatment.

Roivant Sciences Limited saw its shares rise after its subsidiary Dermavant Sciences reported positive topline results from ADORING 2, one of two Phase 3 studies to evaluate the effectiveness and safety of topical VTAMA (tapinarof) cream. The Long Beach, California-based biopharma said both adult and pediatric atopic dermatitis (AD) subjects received the VTAMA cream, and 1% received the same dose and dose regimen as the cream is already approved for in adults with plaque psoriasis.