Roivant Sciences (ROIV) Q4 2026 earnings summary

Executive summary

• Achieved significant clinical and financial milestones in FY2026, including strong execution across the development portfolio and advancing late-stage pipeline assets.

• IMVT-1402 demonstrated high ACR20/50/70 response rates (up to 73%, 55%, and 36%) in difficult-to-treat rheumatoid arthritis, with a consistent safety profile in a highly refractory population.

• Brepocitinib received Breakthrough Therapy Designation for cutaneous sarcoidosis and is preparing for commercial launch in dermatomyositis by September 2026; new indication (LPP) announced and enrolling.

• $2.25 billion global settlement reached with Moderna, with $950 million upfront expected in July 2026 and $1.3 billion contingent on litigation outcome.

• Mosliciguat advanced as a differentiated inhaled therapy for PH-ILD, with Phase 2 topline data expected in H2 2026.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $4.3 billion as of March 31, 2026, prior to Moderna settlement proceeds.

• R&D expenses for FY26 were $681.8M, with G&A expenses at $610.5M; both increased year-over-year due to program expansion and litigation costs.

• Gain on litigation settlement was $770.2M for FY26, reflecting Genevant's share of the Moderna settlement.

• No debt on the balance sheet at fiscal year-end.

• Active share repurchase program, with 3,956,362 shares repurchased for $110M in Q4 FY2026.

Outlook and guidance

• Commercial launch of brepocitinib in dermatomyositis expected by end of September 2026, pending FDA approval.

• Topline Phase 3 data for NIU and updates on IMVT-1402 and mosliciguat expected in H2 2026.

• Multiple pivotal and proof-of-concept readouts anticipated by year-end 2027, including for IMVT-1402 in Graves' disease and myasthenia gravis.

• Commercial launches and NDA/BLA filings anticipated across at least three indications by end of 2028.

• Ongoing litigation and settlement payments, including $950M from Moderna, expected to impact cash flows in 2026.