Roivant Sciences Reports $397.9 Million Net Loss for Fiscal Year 2026

Roivant Sciences Ltd. reported a net loss of $397.9 million for the fiscal year ended March 31, 2026, compared to a net loss of $356.7 million for the previous fiscal year. However, the company reported a net income of $4.23 billion for the year ended March 31, 2024. The company's revenue decreased to $8.3 million in fiscal year 2026 from $29.1 million in fiscal year 2025 and $32.7 million in fiscal year 2024. Research and development expenses increased to $681.8 million, compared to $550.4 million in fiscal year 2025 and $439.9 million in fiscal year 2024. General and administrative expenses also increased to $610.5 million from $591.4 million in fiscal year 2025 and $416.1 million in fiscal year 2024.

The decrease in revenue and increase in research and development expenses were offset by a $770.2 million gain on litigation settlement. This gain resulted from a settlement agreement between Genevant Sciences GmbH, Arbutus Biopharma Corporation, and Moderna, Inc. regarding patent infringement litigation. The company also reported a decrease in interest income to $178.1 million, compared to $258.4 million in fiscal year 2025 and an increase in income tax expense to $133.3 million, compared to $48.2 million in fiscal year 2025. The company's cash, cash equivalents, and marketable securities totaled $4.3 billion as of March 31, 2026.

Strategic developments included positive Phase 3 data for brepocitinib in dermatomyositis, leading to FDA acceptance of its New Drug Application with Priority Review. The company also completed enrollment in the Phase 3 CLARITY study for brepocitinib in non-infectious uveitis and announced positive Phase 2 results for brepocitinib in cutaneous sarcoidosis, resulting in Breakthrough Therapy Designation from the FDA. Immunovant secured approximately $550 million in gross proceeds through a financing round, extending its cash runway to the potential launch of IMVT-1402 in Graves’ disease. However, the company discontinued further development of batoclimab across all indications after Phase 3 trials for thyroid eye disease did not meet the primary endpoint.

Key operational developments included the completion of enrollment in the Phase 2 PHocus study of mosliciguat for pulmonary hypertension associated with interstitial lung disease. The company also announced a $2.25 billion global settlement with Moderna, ending all pending patent-infringement litigation. As of March 31, 2026, Roivant owned 72% of Priovant, 56% of Immunovant, 97% of Pulmovant, 83% of Genevant, and 94% of Covant on a basic ownership basis. The company anticipates a PDUFA date for brepocitinib in dermatomyositis in the third quarter of calendar year 2026 and expects topline data from several Phase 2 and Phase 3 trials in the second half of calendar year 2026.