Roivant reports positive Phase 2 NIU data; authorizes $1.5B buyback, repurchases Sumitomo's 9% stake

Roivant Sciences Ltd.

Phase 2 NEPTUNE: brepocitinib 45mg arm had 29% Treatment Failure at week 24 (vs 44% for 15mg), best observed in NIU studies.
All secondary endpoints positive; 43% of patients with baseline macular edema achieved resolution by week 24 on 45mg.
Board authorized up to $1.5B share repurchase; $648.4M to buy Sumitomo's 71.3M shares at $9.10, reducing shares outstanding by ~9%.
Phase 3 program in NIU to start H2 2024; Phase 3 dermatomyositis study fully enrolled Q3 2024, data expected 2025.

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