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Immunovant Fiscal Q1 Net Loss Widens; Current Cash Balance Provides Runway Into 2025

MT Newswires ·  {{timeTz}}

08:05 AM EDT, 08/05/2022 (MT Newswires) -- Immunovant (IMVT) reported a fiscal Q1 net loss Friday of $0.35 per diluted share, widening from a $0.31 loss a year earlier.

Analysts polled by Capital IQ expected a loss of $0.40 per share.

As expected, no revenue for the quarter ended June 30 was reported.

At the end of June, the company had a cash balance of $427 million, which it expects to provide cash runway into 2025.

Shares of the clinical stage biopharma firm were up more than 3% in recent pre-market trading.

Price: 4.52, Change: +0.14, Percent Change: +3.2

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