Immunovant's Autoimmune Drug Surges, Beating Expectations
Immunovant's experimental drug, IMVT-1402, has shown promising results in lowering immunoglobulin G (IgG) levels in healthy adults, indicating its potential to treat various autoimmune conditions. The drug led to dose-dependent reductions in IgG without causing negative effects on LDL cholesterol or serum albumin levels. Immunovant's stock soared to a two-year high following the announcement, while shares of Argenx, a competitor with its drug Vyvgart, slipped. Although Argenx currently has a lead in development across rare diseases, analysts believe Immunovant's drug could have implications for self-administered injections in treating rheumatoid arthritis.