aibioRoivant posts $290.6M quarterly loss, $3.9B cash, and keeps buying back stock
Tickers ROIV
The holding company's June quarter showed higher research spending, almost no product revenue and a $950 million Moderna payment that arrived after quarter end.
Key facts
- Company
- Roivant Sciences Ltd. (NASDAQ: ROIV)
- News type
- Financings
- Primary source
- Roivant Sciences (SEC 8-K)
Roivant Sciences reported a net loss of $290.6 million for the quarter ended June 30, 2026, the first quarter of its fiscal year, compared with $273.9 million a year earlier. Net loss attributable to Roivant shareholders was $189.8 million, or $0.26 per share, against $223.4 million. The company reported consolidated cash and marketable securities of $3.9 billion, excluding a $950 million payment from Moderna that arrived in July.
CEO Matt Gline described the period as a "moment of relative quiet", according to the release.
The details
Revenue was $1.44 million, down from $2.17 million. Research and development spending rose to $202.0 million from $152.9 million. General and administrative expense was $165.5 million against $134.0 million. Total operating expenses were $367.8 million. Non-GAAP net loss was $243.7 million, up from $170.1 million.
The company bought back 7.3 million shares for about $208.7 million in the quarter. Its 10-Q said about $681.7 million remained on a program of up to $1.0 billion, authorized in June 2025 and increased in March 2026. The 10-Q put cash, cash equivalents and marketable securities at $3,842.1 million. It also carried a $771.6 million litigation settlement receivable, which is Genevant's share of the Moderna payment received after quarter end.
Roivant's subsidiaries reported their own numbers. Immunovant had $797.8 million in cash at June 30, down from $902.1 million at March 31, and a quarterly net loss of $153.2 million. It said its cash covers the period to a potential launch of IMVT-1402 in Graves' disease.
Context
The June quarter fell before the August approval of Lisraya, so product revenue is not in these numbers. The release listed a series of dated events for the second half of 2026: topline data from Priovant's phase 3 trial of brepocitinib in non-infectious uveitis, topline data from Pulmovant's phase 2 trial of mosliciguat in pulmonary hypertension with interstitial lung disease, and, at Immunovant, proof-of-concept data in cutaneous lupus and an update on the difficult-to-treat rheumatoid arthritis program. Graves' disease and myasthenia gravis data for IMVT-1402 are due in 2027, with CIDP and Sjogren's disease in 2028, per the release.
Roivant also said Genevant filed three suits against Pfizer and BioNTech in July, one in Canada and two before the Unified Patent Court, bringing the total to 21 jurisdictions. The first payment under the Moderna settlement is covered in a separate report.
What it means for investors
The statements show a holding company that spends heavily and has little product revenue. Operating expenses of $367.8 million in a quarter are being funded by the balance sheet, which the Moderna payment strengthened after the quarter closed. The buyback is a use of that cash, and the size of the remaining authorization is $681.7 million.
The expense growth is real. R&D was up about 32% and non-GAAP G&A rose to $90.7 million from $62.6 million. The release does not break out the cause. The losses will only narrow if Lisraya sells and the Immunovant and Priovant late-stage trials produce results. The 10-Q itself says Roivant expects to incur additional losses.
What to watch
The next dated items are the second-half 2026 readouts: brepocitinib in uveitis, mosliciguat in PH-ILD, and IMVT-1402 in cutaneous lupus and difficult-to-treat rheumatoid arthritis.