Roivant Sciences Ltd. (ROIV) shares tumbled 6.11% in pre-market trading on Monday following the release of its second-quarter financial results for the period ended September 30, 2025. The biopharmaceutical company reported disappointing earnings that fell short of analyst expectations, coupled with mixed updates on its drug pipeline.
The company posted a quarterly revenue of $1.571 million, significantly below the FactSet estimate of $5.6 million. Roivant's net loss for the quarter was $166.039 million, or $0.17 per share, which was better than the expected loss of $0.33 per share. However, the income from operations came in at -$306.233 million, missing the IBES estimate of -$277.8 million.
Despite the earnings miss, Roivant highlighted positive developments in its drug pipeline. The company reported favorable results from its Phase 3 VALOR study of brepocitinib in dermatomyositis, with plans to file a New Drug Application (NDA) in the first half of 2026. Additionally, Roivant's subsidiary Immunovant shared promising data on its treatment for Graves' disease. However, the company announced a delay in reporting results from its thyroid eye disease studies, now expected in the first half of 2026, citing "evolving competitive dynamics." This mixed bag of clinical updates, combined with the financial underperformance, appears to have unsettled investors, leading to the pre-market decline.
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