Roivant Reports $31.0 Million in First Five Weeks of LISRAYA Sales as Arthritis Trial Hits Primary Goal
Roivant Sciences said Monday that its newly approved drug LISRAYA (brepocitinib) generated $31.0 million in net product revenue in its first five weeks of launch, the headline figure in results for the second quarter ended Sept. 30, 2026, according to an earnings release filed with an 8-K.
LISRAYA became commercially available in the U.S. in August 2026 following FDA approval. Roivant had no product revenue in the year-earlier quarter. Total net revenues came to $35.1 million, compared with $1.6 million a year ago.
CEO Matt Gline said the launch is "off to a strong start," reflecting "strong early patient and prescriber demand."
Net loss attributable to Roivant widened to $191.6 million, or $0.27 per share, from $113.5 million, or $0.17 per share. The latest quarter included $95.9 million tied to distributions on outstanding restricted stock units and options of Genevant Sciences Ltd., which participated in the distribution of Moderna settlement proceeds through dividend-equivalent rights. Those distributions added $0.13 to the per-share loss, the company said.
Loss from continuing operations, net of tax, narrowed to $153.0 million from $166.0 million. On an adjusted basis, a non-GAAP measure, the loss from continuing operations was $133.4 million, compared with $187.8 million.
Research and development expenses fell $18.8 million to $145.7 million, driven in part by lower personnel costs and program-specific spending. Selling, general and administrative expenses rose $11.0 million to $154.1 million, mainly because of the LISRAYA commercial launch.
The pipeline update carried its own news. In Immunovant's potentially registrational trial in difficult-to-treat rheumatoid arthritis, IMVT-1402 at 600 mg met the primary endpoint, with 92.5% of patients maintaining an ACR20 response at Week 28 versus 75.6% on placebo. The 300 mg dose did not show a difference from placebo. Immunovant plans to meet with the FDA later this year on the path forward.
Roivant also said it is unlikely to advance IMVT-1402 in Sjögren's disease beyond the ongoing, fully enrolled Phase 2 trial. Priovant plans to file a supplemental New Drug Application for brepocitinib in non-infectious uveitis in the first half of calendar 2027, and Pulmovant has started the Phase 3 PHrontier study of mosliciguat.
Roivant ended the quarter with $4.2 billion in consolidated cash, cash equivalents and marketable securities, including a July cash payment from Moderna, which it said supports a "cash runway into profitability." Genevant and Arbutus received $950 million from Moderna in July as the initial payment under a $2.25 billion patent settlement. An additional $1.3 billion depends on a favorable resolution of Moderna's Section 1498 appeal, which was argued Nov. 5.
During the quarter, Roivant repurchased 2.1 million common shares for an estimated $72.5 million, the company said. It will hold an investor day on Dec. 9.
By the numbers
- LISRAYA net product revenue: $31.0 million in first five weeks
- Total net revenues: $35.1 million, up from $1.6 million
- Net loss attributable to Roivant: $191.6 million, or $0.27 per share
- Cash, cash equivalents and marketable securities: $4.2 billion
Sources
- Roivant Sciences Form 8-K with results for the second quarter ended Sept. 30, 2026 (Exhibit 99.1), filed Nov. 9, 2026 (accession 0001635088-26-000130)
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