Roivant Sciences and its majority-owned subsidiary Immunovant are discontinuing the development of their experimental drug, IMVT-1402, for treating cutaneous lupus erythematosus (CLE). The decision came after a proof-of-concept study involving 57 patients failed to meet its primary goal.
The trial did not show a statistically significant improvement in skin condition severity for patients receiving the drug compared to a placebo at 12 weeks. Although the drug showed a favorable safety profile and some positive numerical trends, Immunovant cited the results and the competitive landscape as reasons for halting the program for this specific condition.
Following the announcement, both Roivant's and Immunovant's stocks traded lower. Immunovant confirmed that it will continue to develop IMVT-1402 for several other autoimmune diseases, and those clinical development timelines are not affected.