Immunovant Raises $450 Million Through Share Purchase Agreement

An update from Immunovant ( (IMVT) ) is now available.

Immunovant, Inc. has entered into a share purchase agreement with several institutional accredited investors to sell 22,500,000 shares at $20.00 each, raising approximately $450 million in a private placement expected to close by January 15, 2025. The funds will be used for advancing its development pipeline and other corporate purposes, with the shares to be registered for resale with the SEC.

More about Immunovant

Immunovant, Inc. is a clinical-stage immunology company focused on developing innovative, targeted therapies for autoimmune diseases. The company is a leader in anti-FcRn technology, aiming to address the complex needs of individuals with these conditions.

YTD Price Performance: -6.79%

Average Trading Volume: 858,127

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $3.45B

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