Shares of Roivant rose on positive results from phase 3 trials evaluating a treatment for non-infectious uveitis (NIU), a condition that's a leading cause of blindness.
The stock gained 8.1% to $37.74 in premarket trading on Wednesday. At Tuesday's market close, shares were already up 61% year to date.
The treatment--called brepocitinib--met the primary endpoint for two phase 3 trials, with a once-daily 45 milligram dose showing a statistically significant benefit in time to treatment failure when compared to a placebo.
Brepocitinib also achieved statistically significant and clinically meaningful benefits on all key secondary endpoints, including quiescence and resolution of macular edema, the company said.
NIU, an ocular inflammation, can result in permanent vision loss when undertreated. NIU is frequently associated with ocular pain, floaters and visual impairment that can interfere with everyday activities like reading, driving, socializing and working. It is estimated to affect 70,000 to 190,000 adults in the U.S., Roivant said.
Priovant Therapeutics, which is owned by Roivant, plans to file a supplemental new drug application for brepocitinib for treatment of NIU in the first half of 2027.
Comments