Immunovant, Inc(NASDAQ:IMVT) 
Immunovant, Inc., a clinical-stage biopharmaceutical company, develops monoclonal antibodies for the treatment of autoimmune diseases. It develops IMVT-1401, a novel fully human monoclonal antibody that selectively binds to and inhibits the neonatal fragment crystallizable receptor, which is in Phas...
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating expenses: | |||||||||||||||||||||||||||
research and development | 98,924,000 | 114,249,000 | 101,200,000 | 93,651,000 | 94,520,000 | 97,272,000 | 75,473,000 | 66,056,000 | 48,338,000 | 47,959,000 | 50,575,000 | 51,837,000 | 42,252,000 | 37,739,000 | 28,429,000 | 31,986,000 | 29,756,000 | 21,361,000 | 18,705,000 | 18,615,000 | 21,091,000 | 11,976,000 | 16,922,000 | 14,168,000 | 4,953,000 | ||
general and administrative | 15,438,000 | 17,513,000 | 26,024,000 | 20,174,000 | 19,782,000 | 18,471,000 | 18,808,000 | 14,823,000 | 13,215,000 | 13,841,000 | 15,402,000 | 12,422,000 | 11,775,000 | 11,875,000 | 11,946,000 | 15,241,000 | 11,515,000 | 16,289,000 | 11,181,000 | 10,302,000 | 10,549,000 | 8,998,000 | 9,664,000 | 6,315,000 | 6,088,000 | ||
total operating expenses | 114,362,000 | 131,762,000 | 127,224,000 | 113,825,000 | 114,302,000 | 115,743,000 | 94,281,000 | 80,879,000 | 61,553,000 | 61,800,000 | 78,477,000 | 64,259,000 | 64,027,000 | 49,614,000 | 40,375,000 | 47,227,000 | 41,271,000 | 37,650,000 | 29,886,000 | 28,917,000 | 31,640,000 | 20,974,000 | 26,586,000 | 20,483,000 | 11,041,000 | ||
interest income | -5,333,000 | -5,604,000 | -6,337,000 | -6,888,000 | -4,590,000 | -6,073,000 | -7,180,000 | -8,379,000 | -8,933,000 | -3,572,000 | -4,065,000 | -3,480,000 | -2,944,000 | -1,154,000 | 683,140 | 341,558 | |||||||||||
other expense | 54,000 | -1,071,000 | 1,258,000 | 2,587,000 | -1,094,000 | -356,000 | 1,757,000 | -793,000 | -354,000 | -44,000 | 114,000 | 84,000 | 626,000 | 88,000 | 503,000 | 74,000 | 127,000 | -221,000 | |||||||||
income before provision for income taxes | -109,083,000 | -125,908,000 | -119,700,000 | -105,866,000 | -110,970,000 | -109,041,000 | -87,073,000 | -75,087,000 | -51,526,000 | -58,208,000 | -73,948,000 | -60,423,000 | -62,840,000 | -47,667,000 | -40,021,000 | -37,734,000 | -30,512,000 | -28,237,000 | -32,143,000 | -20,749,000 | -26,660,000 | -20,610,000 | -11,196,000 | 263,383 | 249,216 | ||
provision for income taxes | 1,552,000 | 594,000 | 913,000 | 583,000 | 152,000 | 78,000 | 77,000 | 232,000 | -108,000 | 454,000 | -11,000 | -991,000 | 387,000 | 261,000 | 352,000 | -31,000 | -41,000 | -79,000 | -367,000 | 40,000 | 48,000 | -138,293 | -66,467 | ||||
net income | -110,635,000 | -126,502,000 | -120,613,000 | -106,449,000 | -111,122,000 | -109,119,000 | -87,150,000 | -75,319,000 | -51,418,000 | -58,662,000 | -73,937,000 | -59,432,000 | -63,227,000 | -47,928,000 | -40,373,000 | -47,171,000 | -41,385,000 | -37,703,000 | -30,471,000 | -28,158,000 | -31,776,000 | -20,789,000 | -26,708,000 | -20,551,000 | -11,296,000 | 125,090 | 182,749 |
yoy | -0.44% | 15.93% | 38.40% | 41.33% | 116.11% | 86.01% | 17.87% | 26.73% | -18.68% | 22.40% | 83.13% | 25.99% | 52.78% | 27.12% | 32.50% | 67.52% | 30.24% | 81.36% | 14.09% | 37.02% | 181.30% | -16719.23% | -14714.58% | ||||
qoq | -12.54% | 4.88% | 13.31% | -4.21% | 1.84% | 25.21% | 15.71% | 46.48% | -12.35% | -20.66% | 24.41% | -6.00% | 31.92% | 18.71% | -14.41% | 13.98% | 9.77% | 23.73% | 8.21% | -11.39% | 52.85% | -22.16% | 29.96% | 81.93% | -9130.30% | -31.55% | |
net loss per common share – basic and diluted | -610 | -730 | -710 | -525 | -760 | -740 | -600 | -340 | -360 | -450 | -570 | -315 | -490 | -410 | -350 | -255 | -360 | -350 | -310 | -235 | -320 | -250 | -380 | -290 | -280 | ||
weighted-average common shares outstanding – basic and diluted | 181,513,386,000 | 173,643,829,000 | 170,872,994,000 | 146,922,338,000 | 146,468,991,000 | 146,085,729,000 | 144,523,034,000 | 131,155,642,000 | 130,503,264,000 | 128,574,190,000 | 116,572,820,000 | 116,557,508,000 | 115,025,191,000 | 109,078,427,000 | 97,976,982,000 | 97,920,460,000 | 84,353,438,000 | 70,818,867,000 | 41,035,055,000 | ||||||||
other income | -250,000 | -1,187,000 | -629,000 | -28,000 | -20,000 | -464,000 | -225,000 | ||||||||||||||||||||
acquired in-process research and development | 12,500,000 | 10,000,000 | |||||||||||||||||||||||||
loss before benefit for income taxes | -47,183,000 | -41,385,000 | |||||||||||||||||||||||||
benefit for income taxes | -12,000 | ||||||||||||||||||||||||||
interest expense | 376,000 | ||||||||||||||||||||||||||
income tax expense | 39,000 | 100,000 | |||||||||||||||||||||||||
operating costs | 395,157 | 67,742 | |||||||||||||||||||||||||
franchise taxes | 24,600 | 24,600 | |||||||||||||||||||||||||
income from operations | -419,757 | -92,342 | |||||||||||||||||||||||||
yoy | |||||||||||||||||||||||||||
qoq | 354.57% | ||||||||||||||||||||||||||
other income: | |||||||||||||||||||||||||||
weighted-average shares outstanding of redeemable common stock | 11,500,000 | 11,500,000 | |||||||||||||||||||||||||
basic and diluted net income per share, redeemable common stock | 0.05 | 0.02 | |||||||||||||||||||||||||
weighted-average shares outstanding of non-redeemable common stock | 2,875,000 | 2,875,000 | |||||||||||||||||||||||||
basic and diluted net loss per share, non-redeemable common stock | -0.14 | -0.02 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||
current assets: | |||||||||||||||||||||||||||
cash and cash equivalents | 902,110,000 | 994,525,000 | 521,870,000 | 598,912,000 | 713,971,000 | 374,685,000 | 472,941,000 | 560,005,000 | 635,365,000 | 690,937,000 | 269,928,000 | 329,960,000 | 376,532,000 | 432,608,000 | 405,773,000 | ||||||||||||
accounts receivable | 1,133,000 | 1,643,000 | 1,970,000 | 1,936,000 | 2,084,000 | 2,224,000 | 1,876,000 | 2,417,000 | 5,337,000 | 1,029,000 | 1,421,000 | 823,000 | 700,000 | 704,000 | 3,782,000 | 13,177,000 | 12,229,000 | ||||||||||
prepaid expenses and other current assets | 42,763,000 | 46,771,000 | 49,706,000 | 50,915,000 | 51,180,000 | 35,632,000 | 32,555,000 | 26,625,000 | 24,902,000 | 18,810,000 | 19,828,000 | 19,232,000 | 26,916,000 | 21,110,000 | 16,536,000 | 15,922,000 | 6,253,000 | 13,477,000 | 4,840,000 | 5,821,000 | |||||||
income tax receivable | 2,813,000 | 427,000 | 166,000 | 185,000 | 632,000 | 548,000 | 481,000 | 40,000 | 24,000 | 36,000 | |||||||||||||||||
total current assets | 948,819,000 | 1,042,939,000 | 573,546,000 | 651,763,000 | 767,662,000 | 412,541,000 | 507,372,000 | 589,047,000 | 665,770,000 | 710,776,000 | 291,177,000 | 350,015,000 | 404,333,000 | 454,422,000 | 426,091,000 | 456,304,000 | 512,931,000 | 540,480,000 | 563,792,000 | 384,826,000 | 409,006,000 | 429,428,000 | 450,266,000 | 286,116,000 | 109,076,000 | 126,570,000 | 1,762,453 |
operating lease right-of-use assets | 72,000 | 98,000 | 22,000 | 45,000 | 66,000 | 133,000 | 294,000 | 589,000 | 882,000 | 1,172,000 | 1,459,000 | 1,743,000 | 2,024,000 | 2,303,000 | 2,452,000 | 2,731,000 | 3,008,000 | 3,282,000 | 3,469,000 | 3,493,000 | 4,063,000 | ||||||
property and equipment | 443,000 | 531,000 | 632,000 | 737,000 | 844,000 | 752,000 | 671,000 | 565,000 | 462,000 | 376,000 | 304,000 | 325,000 | 333,000 | 362,000 | 312,000 | 328,000 | 330,000 | 250,000 | 209,000 | 193,000 | 201,000 | 132,000 | 136,000 | 112,000 | 65,000 | 49,000 | |
other assets | 7,680,000 | 8,922,000 | 8,781,000 | 8,940,000 | 7,618,000 | 7,617,000 | 7,619,000 | ||||||||||||||||||||
total assets | 957,014,000 | 1,052,392,000 | 582,959,000 | 661,440,000 | 776,222,000 | 420,932,000 | 515,707,000 | 589,678,000 | 666,365,000 | 711,446,000 | 292,070,000 | 351,222,000 | 405,838,000 | 456,243,000 | 428,146,000 | 458,656,000 | 515,564,000 | 543,182,000 | 566,732,000 | 388,027,000 | 412,489,000 | 433,029,000 | 453,895,000 | 290,291,000 | 109,387,000 | 126,619,000 | 117,787,151 |
liabilities and stockholders’ equity | |||||||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||||||
accounts payable | 7,541,000 | 8,616,000 | 6,916,000 | 7,843,000 | 17,656,000 | 19,816,000 | 20,727,000 | 11,035,000 | 7,155,000 | 3,910,000 | 7,511,000 | 26,459,000 | 1,353,000 | 14,004,000 | 7,461,000 | 1,066,000 | 18,629,000 | 3,827,000 | 4,243,000 | 3,107,000 | 2,432,000 | 2,100,000 | 5,787,000 | 8,011,000 | 1,190,000 | 2,812,000 | |
accrued expenses | 96,634,000 | 50,748,000 | 48,476,000 | 45,879,000 | 33,914,000 | 41,300,000 | 27,886,000 | 32,134,000 | 23,979,000 | 40,421,000 | 26,050,000 | 23,138,000 | 19,013,000 | 24,575,000 | 31,448,000 | 23,058,000 | 16,331,000 | 15,160,000 | 13,281,000 | 5,787,000 | 10,095,000 | 10,938,000 | 8,705,000 | 306,115 | |||
current portion of operating lease liabilities | 72,000 | 98,000 | 23,000 | 47,000 | 69,000 | 138,000 | 306,000 | 614,000 | 919,000 | 1,173,000 | 1,205,000 | 1,185,000 | 1,165,000 | 1,145,000 | 1,079,000 | 1,082,000 | 1,085,000 | 1,179,000 | 1,104,000 | 1,102,000 | 1,102,000 | ||||||
due to roivant sciences ltd. | 175,000 | 273,000 | 15,000 | 350,000 | 171,000 | 134,000 | 336,000 | 3,190,000 | 3,134,000 | ||||||||||||||||||
total current liabilities | 104,422,000 | 66,257,000 | 63,254,000 | 52,900,000 | 68,775,000 | 68,315,000 | 66,653,000 | 45,018,000 | 48,608,000 | 32,102,000 | 40,259,000 | 51,357,000 | 43,297,000 | 41,259,000 | 31,784,000 | 21,244,000 | 44,520,000 | 36,354,000 | 28,383,000 | 20,523,000 | 18,771,000 | 16,485,000 | 12,810,000 | 19,544,000 | 337,625 | ||
total liabilities | 104,422,000 | 66,257,000 | 63,254,000 | 52,900,000 | 68,775,000 | 68,315,000 | 66,653,000 | 45,018,000 | 48,608,000 | 32,102,000 | 40,259,000 | 51,357,000 | 43,344,000 | 41,565,000 | 32,398,000 | 22,163,000 | 45,739,000 | 38,034,000 | 30,335,000 | 22,495,000 | 21,009,000 | 18,877,000 | 15,489,000 | 22,516,000 | 15,318,000 | 14,757,000 | 4,362,625 |
commitments and contingencies | |||||||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||||||
series a preferred stock, par value 0.0001... | |||||||||||||||||||||||||||
preferred stock, par value 0.0001... | |||||||||||||||||||||||||||
common stock, par value 0.0001... | 20,000 | 20,000 | 17,000 | 16,000 | 16,000 | 14,000 | 14,000 | 14,000 | 14,000 | 14,000 | 13,000 | 13,000 | 13,000 | 13,000 | 12,000 | 12,000 | 12,000 | 12,000 | 12,000 | 10,000 | 10,000 | 10,000 | 10,000 | 8,000 | 5,000 | 5,000 | |
additional paid-in capital | 2,596,971,000 | 2,582,191,000 | 2,004,876,000 | 1,966,923,000 | 1,945,495,000 | 1,483,198,000 | 1,469,082,000 | 1,455,659,000 | 1,441,518,000 | 1,430,294,000 | 950,231,000 | 939,554,000 | 927,976,000 | 920,197,000 | 840,661,000 | 832,504,000 | 824,796,000 | 812,933,000 | 802,774,000 | 594,377,000 | 590,425,000 | 584,174,000 | 577,341,000 | 385,691,000 | 185,306,000 | 182,679,000 | 4,692,712 |
accumulated other comprehensive income | 730,000 | 1,197,000 | 1,450,000 | 1,737,000 | 1,459,000 | 2,479,000 | 1,910,000 | 1,820,000 | 1,908,000 | -600,000 | 513,000 | 582,000 | 852,000 | 1,383,000 | -1,237,000 | -263,000 | 404,000 | 419,000 | 442,000 | 273,000 | 467,000 | 10,000 | -16,000 | -147,000 | |||
accumulated deficit | -1,745,129,000 | -1,597,273,000 | -1,486,638,000 | -1,360,136,000 | -1,239,523,000 | -1,133,074,000 | -1,021,952,000 | -912,833,000 | -825,683,000 | -750,364,000 | -698,946,000 | -640,284,000 | -566,347,000 | -506,915,000 | -443,688,000 | -395,760,000 | -355,387,000 | -308,216,000 | -266,831,000 | -229,128,000 | -198,657,000 | -170,499,000 | -138,723,000 | -117,934,000 | -91,226,000 | -70,675,000 | |
total stockholders’ equity | 852,592,000 | 986,135,000 | 519,705,000 | 608,540,000 | 707,447,000 | 352,617,000 | 449,054,000 | 544,660,000 | 617,757,000 | 679,344,000 | 251,811,000 | 299,865,000 | 362,494,000 | 414,678,000 | 395,748,000 | 436,493,000 | 469,825,000 | 505,148,000 | 536,397,000 | 365,532,000 | 391,480,000 | 414,152,000 | 438,406,000 | 267,775,000 | 94,069,000 | 111,862,000 | 5,000,006 |
total liabilities and stockholders’ equity | 957,014,000 | 1,052,392,000 | 582,959,000 | 661,440,000 | 776,222,000 | 420,932,000 | 515,707,000 | 589,678,000 | 666,365,000 | 711,446,000 | 292,070,000 | 351,222,000 | 405,838,000 | 456,243,000 | 428,146,000 | 458,656,000 | 515,564,000 | 543,182,000 | 566,732,000 | 388,027,000 | 412,489,000 | 433,029,000 | 453,895,000 | 290,291,000 | 109,387,000 | 126,619,000 | 117,787,151 |
accrued expenses and other current liabilities | 57,641,000 | 56,338,000 | 45,057,000 | ||||||||||||||||||||||||
operating lease liabilities, net of current portion | 47,000 | 306,000 | 614,000 | 919,000 | 1,219,000 | 1,972,000 | 2,238,000 | 2,392,000 | 2,679,000 | 2,972,000 | |||||||||||||||||
cash | 427,205,000 | 493,817,000 | 527,003,000 | 558,952,000 | 379,005,000 | 400,146,000 | 421,974,000 | 444,372,000 | 280,279,000 | 100,571,000 | 123,530,000 | 1,610,350 | |||||||||||||||
operating lease liabilities, net of current portion, and other noncurrent liabilities | 1,680,000 | 1,952,000 | |||||||||||||||||||||||||
prepaid expenses | 8,312,000 | 6,973,000 | 5,854,000 | 5,813,000 | 5,460,000 | 44,000 | 152,103 | ||||||||||||||||||||
value-added tax receivable | 3,009,000 | 2,996,000 | |||||||||||||||||||||||||
deferred offering costs | 246,000 | ||||||||||||||||||||||||||
accumulated other comprehensive loss | -298,000 | -222,000 | |||||||||||||||||||||||||
common stock subscribed | |||||||||||||||||||||||||||
income tax payable | 106,000 | ||||||||||||||||||||||||||
stockholders’ equity:* | |||||||||||||||||||||||||||
current assets | |||||||||||||||||||||||||||
cash and marketable securities held in trust account | 116,024,698 | ||||||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||||||
accrued offering costs | |||||||||||||||||||||||||||
income taxes payable | 31,510 | ||||||||||||||||||||||||||
promissory note – related party | |||||||||||||||||||||||||||
deferred underwriting fee payable | 4,025,000 | ||||||||||||||||||||||||||
common stock subject to possible redemption, 10,842,452 shares at redemption value | 108,424,520 | ||||||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||||||
common stock, 0.0001 par value... | 353 | ||||||||||||||||||||||||||
retained earnings/ | 306,941 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||||||
net loss | -147,856,000 | -110,635,000 | -126,502,000 | -120,613,000 | -106,449,000 | -111,122,000 | -109,119,000 | -87,150,000 | -75,319,000 | -51,418,000 | -58,662,000 | -73,937,000 | -59,432,000 | -63,227,000 | -47,928,000 | -40,373,000 | -47,171,000 | -41,385,000 | -37,703,000 | -30,471,000 | -28,158,000 | -31,776,000 | -20,789,000 | -26,708,000 | -20,551,000 |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||
stock-based compensation | 11,141,000 | 12,715,000 | 13,358,000 | 18,510,000 | 11,687,000 | 11,652,000 | 12,693,000 | 13,455,000 | 9,679,000 | 10,220,000 | 10,529,000 | 10,688,000 | 7,546,000 | 8,906,000 | 8,157,000 | 7,687,000 | 11,863,000 | 10,159,000 | 8,361,000 | 3,861,000 | 5,488,000 | 5,992,000 | 3,361,000 | 3,981,000 | |
depreciation on property and equipment | 96,000 | 101,000 | 105,000 | 107,000 | 109,000 | 99,000 | 89,000 | 80,000 | 64,000 | 58,000 | 56,000 | 53,000 | 54,000 | 49,000 | 46,000 | 44,000 | 39,000 | 33,000 | 28,000 | 26,000 | 22,000 | 19,000 | 14,000 | 10,000 | |
non-cash lease expense | 26,000 | 25,000 | 24,000 | 24,000 | 22,000 | 23,000 | 22,000 | 66,000 | 252,000 | 295,000 | 293,000 | 290,000 | 287,000 | 284,000 | 281,000 | 279,000 | 275,000 | 280,000 | 277,000 | 274,000 | 219,000 | ||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||
accounts receivable | 563,000 | 319,000 | -25,000 | 129,000 | 85,000 | -197,000 | 417,000 | 2,927,000 | -4,140,000 | 266,000 | -561,000 | -142,000 | 2,000 | 2,945,000 | 9,764,000 | -947,000 | |||||||||
prepaid expenses and other current assets | 4,313,000 | 2,869,000 | 1,164,000 | 498,000 | -15,210,000 | -5,239,000 | -4,692,000 | -1,849,000 | -8,518,000 | 2,836,000 | -1,022,000 | 8,262,000 | -6,236,000 | -4,171,000 | -925,000 | -9,201,000 | 5,946,000 | -7,830,000 | 982,000 | 3,039,000 | |||||
income tax receivable | -67,000 | -441,000 | -16,000 | 12,000 | -36,000 | ||||||||||||||||||||
other assets | 1,301,000 | -38,000 | 167,000 | -1,361,000 | -195,000 | 530,000 | |||||||||||||||||||
accounts payable | -1,349,000 | 1,563,000 | -1,065,000 | -9,401,000 | -2,304,000 | -260,000 | 9,369,000 | 3,879,000 | 3,392,000 | -3,704,000 | -18,915,000 | 25,011,000 | -12,629,000 | 6,472,000 | 6,518,000 | -17,485,000 | 14,871,000 | -427,000 | 1,135,000 | 675,000 | 337,000 | -3,823,000 | -2,074,000 | 6,811,000 | -1,637,000 |
accrued expenses | 1,647,000 | 4,146,000 | 10,668,000 | -7,538,000 | 15,459,000 | -5,343,000 | 8,527,000 | -17,294,000 | 14,290,000 | 2,635,000 | 4,185,000 | -5,542,000 | -6,716,000 | 8,290,000 | 6,727,000 | 1,171,000 | 1,878,000 | 7,756,000 | -4,569,000 | -597,000 | 2,675,000 | ||||
operating lease liabilities | -23,000 | -23,000 | -23,000 | -69,000 | -258,000 | -308,000 | -305,000 | -301,000 | -292,000 | -288,000 | -284,000 | -281,000 | -360,000 | -111,000 | -544,000 | -2,000 | -141,000 | ||||||||
due to roivant sciences ltd. | 56,000 | ||||||||||||||||||||||||
net cash from operating activities | -95,059,000 | -92,325,000 | -102,515,000 | -117,411,000 | -110,637,000 | -100,391,000 | -88,647,000 | -76,199,000 | -59,699,000 | -47,098,000 | -60,060,000 | -47,370,000 | -55,793,000 | -46,395,000 | -20,186,000 | -65,819,000 | -32,956,000 | -31,895,000 | -20,047,000 | -21,214,000 | -22,496,000 | -22,815,000 | -24,218,000 | -13,798,000 | -23,050,000 |
capital expenditures | 0 | 0 | 0 | 0 | -180,000 | -196,000 | -182,000 | 0 | -131,000 | -34,000 | -45,000 | 0 | -98,000 | -31,000 | -42,000 | 0 | -74,000 | -44,000 | -18,000 | 0 | -29,000 | -39,000 | -28,000 | 0 | |
free cash flows | -95,059,000 | -92,325,000 | -102,515,000 | -110,637,000 | -100,571,000 | -88,843,000 | -76,381,000 | -59,699,000 | -47,229,000 | -60,094,000 | -47,415,000 | -55,793,000 | -46,493,000 | -20,217,000 | -65,861,000 | -32,956,000 | -31,969,000 | -20,091,000 | -21,232,000 | -22,496,000 | -22,844,000 | -24,257,000 | -13,826,000 | -23,050,000 | |
cash flows from investing activities | |||||||||||||||||||||||||
purchases of property and equipment | |||||||||||||||||||||||||
net cash from investing activities | -201,000 | -180,000 | -196,000 | -182,000 | -150,000 | -131,000 | -34,000 | -45,000 | -26,000 | -98,000 | -31,000 | -42,000 | -118,000 | -74,000 | -44,000 | -18,000 | -95,000 | -29,000 | -39,000 | -47,000 | -10,000 | ||||
cash flows from financing activities | |||||||||||||||||||||||||
proceeds from issuance of common stock upon underwritten offering, net of underwriter discounts and commissions, and private placement | |||||||||||||||||||||||||
payment of offering and private placement costs | 0 | ||||||||||||||||||||||||
proceeds from stock options exercised | 3,558,000 | 20,995,000 | 24,595,000 | 2,918,000 | 931,000 | 2,464,000 | 730,000 | 686,000 | 1,545,000 | 3,111,000 | 148,000 | 890,000 | 233,000 | 403,000 | 0 | 21,000 | 0 | 725,000 | 119,000 | 63,000 | |||||
net cash from financing activities | 3,640,000 | 564,603,000 | 24,595,000 | 2,918,000 | 450,612,000 | 2,464,000 | 730,000 | 686,000 | 1,545,000 | 469,844,000 | 148,000 | 890,000 | 233,000 | 70,631,000 | 0 | 21,000 | 0 | 0 | 200,038,000 | 91,000 | 763,000 | 446,000 | 188,350,000 | 193,553,000 | 101,000 |
effect of exchange rate changes on cash and cash equivalents | -988,000 | 377,000 | 878,000 | -566,000 | -488,000 | -149,000 | 1,049,000 | 335,000 | 2,732,000 | -1,606,000 | -86,000 | -47,000 | -490,000 | 2,697,000 | |||||||||||
net change in cash and cash equivalents | -92,415,000 | 472,655,000 | -77,042,000 | -115,059,000 | 339,286,000 | -98,256,000 | -87,064,000 | -75,360,000 | -55,572,000 | 421,009,000 | -60,032,000 | -46,572,000 | -56,076,000 | 26,835,000 | |||||||||||
cash and cash equivalents – beginning of period | 0 | 0 | 0 | 713,971,000 | 0 | 0 | 0 | 635,365,000 | 0 | 0 | 0 | 376,532,000 | 0 | 0 | |||||||||||
cash and cash equivalents – end of period | -92,415,000 | 472,655,000 | -77,042,000 | 598,912,000 | 339,286,000 | -98,256,000 | -87,064,000 | 560,005,000 | -55,572,000 | 421,009,000 | -60,032,000 | 329,960,000 | -56,076,000 | 26,835,000 | |||||||||||
non-cash operating activity | |||||||||||||||||||||||||
operating lease right-of-use assets obtained in exchange for operating lease liabilities | 0 | ||||||||||||||||||||||||
supplemental disclosure of cash paid: | |||||||||||||||||||||||||
income taxes | -51,000 | 1,636,000 | 901,000 | 0 | 0 | 74,000 | |||||||||||||||||||
accrued expenses and other current liabilities | 756,000 | 10,259,000 | -5,304,000 | ||||||||||||||||||||||
purchase of property and equipment | -180,000 | -196,000 | -182,000 | -131,000 | -34,000 | -45,000 | -98,000 | -31,000 | -42,000 | -74,000 | -44,000 | -18,000 | -29,000 | -39,000 | -47,000 | ||||||||||
proceeds from issuance of common stock upon underwritten offering, net of underwriter discounts and commissions | |||||||||||||||||||||||||
payment of offering costs | 0 | ||||||||||||||||||||||||
proceeds from issuance of common stock upon underwritten offering and private placement | |||||||||||||||||||||||||
proceeds from issuance of common stock upon underwritten public offering and private placement | |||||||||||||||||||||||||
proceeds from issuance of common stock upon underwritten offering | 0 | ||||||||||||||||||||||||
proceeds from investment by roivant sciences ltd. | 0 | 0 | |||||||||||||||||||||||
capital contributions | 0 | 0 | 38,000 | 91,000 | 763,000 | 116,000 | 53,000 | 164,000 | 291,000 | ||||||||||||||||
other non-cash items | |||||||||||||||||||||||||
effect of exchange rate changes on cash | -772,000 | -112,000 | |||||||||||||||||||||||
net change in cash | -66,612,000 | -33,186,000 | -31,949,000 | 179,947,000 | -21,141,000 | -21,828,000 | -22,398,000 | 164,093,000 | 179,708,000 | -22,959,000 | |||||||||||||||
cash – beginning of period | 493,817,000 | 0 | 0 | 0 | 400,146,000 | 0 | 0 | 0 | 100,571,000 | 0 | |||||||||||||||
cash – end of period | 427,205,000 | -33,186,000 | -31,949,000 | 179,947,000 | 379,005,000 | -21,828,000 | -22,398,000 | 164,093,000 | 280,279,000 | -22,959,000 | |||||||||||||||
proceeds from issuance of common stock upon underwritten public offering | 0 | 0 | 188,753,000 | 131,030,000 | |||||||||||||||||||||
proceeds from issuance of common stock upon warrant redemption | 0 | 0 | 0 | 65,752,000 | |||||||||||||||||||||
payment of deferred offering costs | 0 | -261,000 | -373,000 | -602,000 | |||||||||||||||||||||
repayment of note payable to roivant sciences ltd. | -202,000 | -2,854,000 | |||||||||||||||||||||||
operating lease and other noncurrent liabilities | -275,000 | ||||||||||||||||||||||||
foreign currency translation adjustments | 571,000 | -765,000 | 689,000 | -232,000 | 26,000 | ||||||||||||||||||||
loss on disposal of property and equipment | 0 | ||||||||||||||||||||||||
gain on extinguishment of convertible notes | |||||||||||||||||||||||||
write-off of deferred offering costs | 0 | ||||||||||||||||||||||||
prepaid expenses | -1,339,000 | -1,119,000 | -41,000 | -353,000 | -5,415,000 | ||||||||||||||||||||
value-added tax receivable | 0 | 0 | 0 | 3,009,000 | -13,000 | ||||||||||||||||||||
proceeds from notes payable to roivant sciences ltd. | 0 | ||||||||||||||||||||||||
repayment of convertible promissory note payable to roivant sciences ltd. | 0 | ||||||||||||||||||||||||
proceeds from convertible promissory notes | |||||||||||||||||||||||||
repayment of convertible promissory notes | |||||||||||||||||||||||||
settlement of common stock subscribed | 0 | ||||||||||||||||||||||||
recapitalization transaction | 0 | ||||||||||||||||||||||||
operating lease right-of-use assets obtained and exchanged for operating lease liabilities | 32,000 | 259,000 | -291,000 | 4,215,000 | |||||||||||||||||||||
non-cash investing activity | |||||||||||||||||||||||||
payable for purchase of property and equipment | |||||||||||||||||||||||||
non-cash financing activity | |||||||||||||||||||||||||
conversion of convertible promissory notes to common stock | 0 | ||||||||||||||||||||||||
deferred offering costs in accrued expenses | -328,000 | ||||||||||||||||||||||||
cancellation of interest on convertible promissory notes recorded in equity | |||||||||||||||||||||||||
total non-cash financing activity | |||||||||||||||||||||||||
gain on extinguishment of convertible notes payable | |||||||||||||||||||||||||
income tax payable | |||||||||||||||||||||||||
proceeds from convertible promissory notes payable | |||||||||||||||||||||||||
repayment of convertible promissory notes payable | |||||||||||||||||||||||||
noncash lease expense | 279,000 | 152,000 | |||||||||||||||||||||||
other | |||||||||||||||||||||||||
proceeds from note payable to roivant sciences ltd. | |||||||||||||||||||||||||
purchase of property and equipment in accounts payable | 19,000 | ||||||||||||||||||||||||
non-cash investing and financing activities | |||||||||||||||||||||||||
net parent investment | |||||||||||||||||||||||||
proceeds from issuance of common stock | |||||||||||||||||||||||||
non-cash investing activities | |||||||||||||||||||||||||
non-cash financing activities | |||||||||||||||||||||||||
reclassification of net parent investment to accumulated deficit | |||||||||||||||||||||||||
common stock issuance costs in accrued expenses | |||||||||||||||||||||||||
cancelation of interest on convertible promissory notes recorded in equity | |||||||||||||||||||||||||
stock-based compensation expense | |||||||||||||||||||||||||
depreciation expense | |||||||||||||||||||||||||
unrealized currency translation adjustment | |||||||||||||||||||||||||
purchase of property and equipment in accounts payable and amounts due to roivant sciences ltd. |