Roivant Sciences (ROIV) Q1 2027 earnings summary

Executive summary

• Significant progress across the pipeline, including brepocitinib, IMVT-1402, and mosliciguat, with commercial preparations for brepocitinib in dermatomyositis on track for launch by end of September 2026 and multiple late-stage clinical programs advancing.

• Received $950 million from Moderna in July 2026 as part of a global patent settlement, with potential for an additional $1.3 billion contingent on litigation outcomes; ongoing international lawsuits filed against Pfizer and BioNTech.

• Maintains strong liquidity with $3.9 billion in cash, cash equivalents, restricted cash, and marketable securities as of June 30, 2026, excluding the Moderna payment.

Financial highlights

• R&D expenses for the quarter were $202 million, up from $152.9 million year-over-year, mainly due to program progression and personnel costs.

• G&A expenses rose to $166 million, driven by employee bonuses and payroll taxes related to the Moderna settlement.

• Net loss was $290.6 million for the quarter, with non-GAAP net loss at $243.7 million.

• Cash, cash equivalents, and marketable securities totaled $3.9 billion as of June 30, 2026, excluding the $950 million Moderna payment received in July.

• Repurchased 7.3 million shares for $208.7 million during the quarter.

Outlook and guidance

• Commercial launch of brepocitinib in dermatomyositis expected by end of September 2026, with commercial and patient support teams ready.

• Multiple pivotal and proof-of-concept study readouts expected in the second half of 2026, including for brepocitinib, IMVT-1402, and mosliciguat.

• By end of 2028, expects three or more commercial launches, nine or more clinical readouts, and multiple regulatory filings across 7+ indications.

• Cash runway projected to support operations into profitability.