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Here's Why Immunovant (IMVT) Merits A Look

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Immunovant Inc. (IMVT), which began trading on the NASDAQ on December 19, 2019, has since gained nearly 13 percent.

Immunovant Inc. is the result of the merger between publicly-traded Health Sciences Acquisitions Corp. and privately held Immunovant Sciences Ltd. last December.

The Company's lead product candidate is IMVT-1401, a novel, fully human monoclonal antibody targeting the neonatal Fc receptor (FcRn), with the potential to address a variety of immunoglobulin G (IgG)-mediated autoimmune diseases as a subcutaneous injection.

IMVT-1401 is being evaluated as a treatment for Graves' ophthalmopathy, myasthenia gravis, and warm autoimmune hemolytic anemia, and is considered as a "pipeline in itself".

The ongoing clinical trials with IMVT-1401 include:

-- A phase IIa clinical trial of IMVT-1401 for the treatment of Graves' ophthalmopathy, dubbed ASCEND-GO 1.

-- A phase IIb clinical trial of IMVT-1401 for the treatment of Graves' ophthalmopathy, dubbed ASCEND-GO 2.

Graves' Ophthalmopathy, also known as Thyroid Eye disease, is a problem that usually develops in people with an overactive thyroid caused by Graves' disease.

The Thyroid Eye disease is caused by irritation or grittiness in the eyes, redness or inflammation of the conjunctiva (the white part of the eyeball), excessive tearing or dry eyes, swelling of the eyelids, sensitivity to light, forward displacement or bulging of the eyes (called proptosis), and double vision (Source: American Thyroid Association). In January of this year, the FDA granted approval to Horizon Therapeutics' (HZNP) TEPEZZA, becoming the first and only approved medicine for the treatment of Thyroid Eye disease.

-- A phase IIa clinical trial of IMVT-1401 for the treatment of myasthenia gravis, known as ASCEND-MG.

Myasthenia gravis (MG) is a rare, chronic autoimmune disorder characterized by skeletal muscle weakness. About 36,000 to 60,000 people in the United States have myasthenia gravis. There are approved drugs to treat this condition.

The global myasthenia gravis market, which was estimated to be worth $836.5 million in 2018, is expected to grow at a compound annual growth rate (CAGR) of 8.7% to reach $1.9 billion by 2028, according to GlobalData, a data and analytics firm.

-- A phase IIa clinical trial of IMVT-1401 for the treatment of warm autoimmune hemolytic anemia, dubbed ASCEND WAHA.

Warm autoimmune hemolytic anemia (wAIHA) is a rare hematologic disease in which autoantibodies destroy the red blood cells, resulting in severe anemia, which in turn leads to weakness and fatigue. It is said that up to 8% of wAIHA patients die prematurely, and there are no approved treatments for this rare autoimmune disease.

Anticipated Milestones:

** Initial results from ASCEND-GO 1, the phase IIa clinical trial of IMVT-1401 for the treatment of Graves' ophthalmopathy, are due in the first quarter.

** Topline results from ASCEND-MG, the phase IIaa clinical trial of IMVT-1401 for the treatment of myasthenia gravis, are expected in 1H 2020.

** Initial results from ASCEND WAHA, the phase IIa clinical trial of IMVT-1401 for the treatment of warm autoimmune hemolytic anemia, are expected in Q4 2020.

** Topline results from ASCEND-GO 2, the phase IIb clinical trial of IMVT-1401 for the treatment of Graves' ophthalmopathy, are expected in early 2021.

Cash Position:

The Company ended the year 2019 with cash of $123.5 million.

IMVT closed Monday's trading at $16.04, down 0.74%.

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