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Roivant Sciences Ltd. (ROIV-1.29%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing revenue of $4.5 million, up from $3.6 million in the same quarter the previous year.
Research and development expenses increased to $143.1 million from $114.8 million, driven by higher program-specific costs and personnel-related expenses.
General and administrative expenses rose to $202.9 million from $88.6 million, primarily due to one-time cash retention awards and increased share-based compensation.
Roivant reported a net loss of $279.9 million for the quarter, compared to $331.1 million in the previous year.
The company recorded a gain of $110.4 million from the sale of Telavant net assets, related to a milestone payment achieved in June 2024.
Interest income increased significantly to $69.8 million from $14.3 million, attributed to higher cash balances and interest rates.
Roivant's cash, cash equivalents, and marketable securities were approximately $5.4 billion as of September 30, 2024.
The company completed the sale of its subsidiary Dermavant (OGN+0.35%) to Organon in October 2024, receiving $183.6 million in cash.
Roivant continues to focus on developing its pipeline, including IMVT-1402 and batoclimab, targeting autoimmune indications.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Roivant Sciences Ltd. quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.