Description

Roivant Sciences’ $2.25 Billion Moderna Settlement: Can Pipeline Momentum Follow?

Roivant Sciences presented its fourth quarter and fiscal year 2025-2026 results, highlighting significant developments across its clinical and commercial programs. The company reported strong execution momentum despite a transformative and busy year marked by important data readouts, regulatory milestones, and patent settlements. A key positive was the update on the FcRn franchise’s IMVT-1402 (1402) program targeting difficult-to-treat rheumatoid arthritis (D2T RA). The open-label Phase II study enrolled a heavily refractory patient population, with 65% having failed Janus kinase inhibitors and all having previously failed tumor necrosis factor inhibitors. Preliminary data showed ACR 20 response rates around 73%, with deep responses including over 50% achieving ACR 50 and roughly one-third reaching ACR 70. These findings are notable given the high bar for response in this difficult population and suggest meaningful clinical activity with an acceptable safety profile.