IMVT Immunovant Inc

$IMVT Two Seas Capital added 1.46 million shares in Q3, up 46.5 percent, taking its Immunovant stake to 4.6 million shares worth about 155.8 million dollars. The fund's sixth largest holding, per its SEC filing. The timing is the signal. Q3 included the September 24 cutaneous lupus trial failure that sent the stock down 7 percent to 34.70, its worst day in over a year. Two Seas bought through the washout, not before it. The scrapped program was one indication. Imeroprubart's registrational trials in Graves' disease, rheumatoid arthritis, myasthenia gravis and Sjogren's all remain on track, per the company. Institutions were already accumulating. BlackRock opened a 276.7 million dollar position in Q2, Bank of America added 1.18 million shares, and institutions own 47 percent of the stock. Two Seas is betting the CLE miss was a single-indication problem, not a platform one. Shares near 32, up about 26 percent this year. Tracking the Graves' Phase 3 readouts next.

$IMVT: Immunovant announces that IMVT-1402 missed its primary endpoint in a CLE trial, prompting the company to discontinue development for that indication.

Immunovant Pulls Plug On Lupus Program After Study Misses Primary Goal — IMVT Stock Heads For Over 3-Month Lows $IMVT $XBI https://stocktwits.com/news/equity/markets/immunovant-pulls-plug-on-lupus-program-after-study-misses-primary-goal-imvt-stock-heads-for-over-3-month-lows/cZMEuqwRBJh

$IMVT Immunovant announces IMVT-1402 study did not achieve statistical significance Immunovant announced topline results from Period 1 of its proof-of-concept trial evaluating IMVT-1402 for the treatment of cutaneous lupus erythematosus, CLE. The study did not achieve statistical significance on its primary endpoint of percent change from baseline in the Cutaneous Lupus Erythematosus Disease Area and Severity Index Activity score at Week 12. Numerical trends favoring IMVT-1402 over placebo were observed across multiple endpoints, and patients who achieved deeper IgG reductions from baseline were more likely to achieve improved clinical responses. However, due to the competitive landscape and the clinical results observed, Immunovant plans to stop development in CLE.