Skip to content

ROIV · Roivant Sciences

5 filings

10-K

ROIV 10-K Annual Reports

Roivant Sciences - 5 annual reports

Filing record · 2021–202610-K510-Q168-K82

2026
Roivant Sciences Annual Report, Year Ended Mar 31, 2026
Roivant Sciences Ltd. reported a net loss attributable to Roivant Sciences Ltd. of $299.8 million for the fiscal year ended March 31, 2026, compared with a net loss of $172.0 million in fiscal 2025. Results were driven by a $770.2 million gain on litigation settlement recognized for Genevant's expected share of Moderna's $950 million fixed payment, offset by research and development expense of $681.8 million and general and administrative expense of $610.5 million. Cash, cash equivalents and marketable securities totaled approximately $4.3 billion at March 31, 2026, and the company states it does not currently need additional capital under its current operating plans, though it may need capital in the future. The pipeline is centered on brepocitinib (Priovant), with an FDA decision in dermatomyositis expected in the third quarter of calendar 2026 under Priority Review and a commercial launch targeted by the end of September 2026 if approved. IMVT-1402 (Immunovant) is the lead anti-FcRn program across several indications, while batoclimab was discontinued after two Phase 3 thyroid eye disease studies missed their primary endpoints. Mosliciguat (Pulmovant) has a Phase 2 PH-ILD readout expected in the second half of calendar 2026. Key risks include the contingent $1.3 billion Moderna payment tied to the Section 1498 appeal, a possible dispute with HanAll over batoclimab rights, the Vant structure and related dilution, BIOSECURE Act and tariff exposure, and an accumulated deficit of $501.8 million. The company also reported $890.3 million remaining authorization for share repurchases and repurchased $314.9 million of common shares over the twelve months ended March 31, 2026.
May 20, 2026
2025
Roivant Sciences Annual Report, Year Ended Mar 31, 2025
Roivant Sciences Ltd. (ROIV) reports its fiscal year ended March 31, 2025 with a net loss attributable to Roivant Sciences Ltd. of $171.98 million, compared with net income of $4.35 billion in the prior year, which included the $5.35 billion gain on the sale of Telavant net assets. Revenue was $29.1 million, and research and development expenses rose to $550.4 million and general and administrative expenses to $591.4 million, largely reflecting share-based and cash retention awards under the 2024 Senior Executive Compensation Program. Interest income of $258.4 million and a $373.0 million gain from discontinued operations (the Dermavant sale to Organon) partially offset operating losses. The company had cash, cash equivalents and marketable securities of approximately $4.9 billion and retained earnings of $116.1 million at March 31, 2025. The company operates as a holding company that develops medicines through subsidiaries called Vants. Its lead pipeline programs are brepocitinib (Priovant; Phase 3 in dermatomyositis with topline data expected in the second half of calendar 2025, and in non-infectious uveitis with data expected in the first half of calendar 2027), the anti-FcRn franchise IMVT-1402 and batoclimab (Immunovant), and mosliciguat (Pulmovant; Phase 2 in PH-ILD with data expected in the second half of calendar 2026). During the year, Roivant repurchased 128.4 million common shares for $1.3 billion, reducing shares outstanding by 14%. The filing states that the company does not currently need additional capital under its current operating plans, while noting it may require capital in the future. Key risks highlighted in the filing include the company's lack of approved products following the Dermavant sale, reliance on in-licensed assets and third-party manufacturers and CROs, pending patent litigation against Moderna and Pfizer/BioNTech, the Vant structure's dilution and governance complexity, and significant exposure to U.S. policy and regulatory uncertainty.
May 29, 2025
2024
Roivant Sciences Annual Report, Year Ended Mar 31, 2024
Roivant Sciences Ltd. (Nasdaq: ROIV) reported its fiscal year ended March 31, 2024 in this Form 10-K filed May 30, 2024. The company is a commercial-stage biopharmaceutical company that develops medicines through subsidiaries it calls "Vants." Its only approved product is VTAMA (tapinarof), which generated net product revenue of $75.1 million in fiscal 2024, up from $28.0 million, and an sNDA for atopic dermatitis is pending with a PDUFA action expected in the fourth quarter of calendar 2024. Total revenue was $124.8 million, and research and development expense was $501.7 million while selling, general and administrative expense rose to $687.4 million. Financial results were dominated by a one-time gain of $5.3 billion on the sale of Telavant to Roche, which contributed to income from continuing operations of $4.2 billion, compared with a loss of $1.2 billion in the prior year. Cash, cash equivalents and restricted cash were approximately $6.6 billion at March 31, 2024, and retained earnings turned positive at $576.2 million. The company also authorized a share repurchase program of up to $1.5 billion and used approximately $648.4 million to buy back Sumitomo Pharma's entire stake in April 2024. Investors should weigh the strong balance sheet against substantial operating losses from the core business and the company's dependence on VTAMA's commercial success and pipeline readouts. The filing also discloses a May 2024 renegotiation of Dermavant's debt obligations, which reduces potential cash payments by over $300 million in aggregate, and ongoing patent litigation against Moderna and Pfizer/BioNTech.
May 30, 2024
2023
Roivant Sciences Annual Report, Year Ended Mar 31, 2023
Roivant Sciences Ltd. (ROIV) reports its fiscal year ended March 31, 2023 as a commercial-stage biopharmaceutical company whose pipeline is concentrated in inflammation and immunology, organized through subsidiaries it calls "Vants." Its first commercial product, VTAMA (tapinarof), was approved by the FDA in May 2022 for plaque psoriasis, and the company generated product revenue, net of $28.0 million for the fiscal year. Total revenue was $61.3 million, while loss from continuing operations was $1.23 billion and net loss attributable to Roivant was $1.01 billion. Accumulated deficit reached approximately $3.8 billion, and cash and cash equivalents were approximately $1.7 billion, which the company expects to support cash runway into the second half of calendar 2025. The filing highlights several late-stage catalysts, including Phase 3 data for batoclimab in myasthenia gravis expected in the second half of calendar 2024, an sNDA for VTAMA in atopic dermatitis planned for the first quarter of 2024, and a Phase 2B topline readout for brepocitinib in systemic lupus erythematosus expected in 4Q 2023. The company also reports net proceeds of approximately $216.9 million from a February 2023 public offering and an at-the-market program with $400.0 million of remaining capacity. Investors should weigh the company's heavy losses, reliance on external capital, and single approved product against a diversified pipeline and a Vant structure that spreads development risk across subsidiaries. The filing also identifies material concentration and governance considerations. Sumitomo Pharma sold 15,116,277 common shares in a June 2023 private transaction, and lock-up agreements run through February 29, 2024. Large shareholders held approximately 70.7% of issued and outstanding common shares as of March 31, 2023. The company is an emerging growth company and a smaller reporting company, and it is incorporated in Bermuda with principal executive offices in London.
Jun 28, 2023
2022
Roivant Sciences Annual Report, Year Ended Mar 31, 2022
Roivant Sciences Ltd. (ROIV) reports that its first commercial product, VTAMA (tapinarof) cream 1%, was approved by the FDA in May 2022 for plaque psoriasis in adults and launched that month, with the company's sales force of approximately 100 specialty representatives. For fiscal year ended March 31, 2022, the company reported revenue, net of $55.3 million (versus $23.8 million), a net loss of $924.1 million, and a net loss attributable to Roivant Sciences Ltd. of $845.3 million. Cash and cash equivalents were approximately $2.1 billion and the accumulated deficit approximately $2.8 billion. General and administrative expenses rose to $775.0 million, including a one-time share-based compensation catch-up tied to the September 2021 Business Combination with Montes Archimedes Acquisition Corp. The company operates a "Vant" model of subsidiary biotech companies. Key pipeline items include batoclimab (Immunovant) in Phase 3 for myasthenia gravis, brepocitinib (Priovant) in a Phase 3 trial in dermatomyositis and a Phase 2B trial in systemic lupus erythematosus, and VTAMA Phase 3 trials in atopic dermatitis with topline data expected in the first half of calendar 2023. The filing also discloses the wind-down of ARU-1801 and several other programs under a cost optimization initiative. Management states that existing cash is expected to fund committed operating expenses for at least the next twelve months, while acknowledging the need to raise additional capital over time. Investors should weigh the substantial operating losses and dependence on a single approved product, VTAMA, against a diversified pipeline and significant cash reserves. The filing also highlights material legal exposure, including a securities class action against subsidiary Immunovant that names the company as a defendant, and patent litigation involving Genevant and Arbutus against Moderna and Acuitas.
Jun 28, 2022