Roivant Sciences Ltd.: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 6 August 2026: press release. Guidance figures: 3 new, 7 kept. The quarter’s numbers.

Key takeaways

Net loss widened to $290.6 million: The company reported a net loss of $290.6 million, or $0.26 per share, against a loss of $273.9 million, or $0.33 per share, a year earlier. Net loss attributable to Roivant Sciences Ltd. was $189.8 million. Source
R&D rose on program and bonus costs: R&D expense was $202.0 million, up $49.1 million. Program-specific costs rose $49.4 million, and personnel costs rose $3.8 million, including $4.1 million of Moderna settlement bonuses. Source
Dermatomyositis launch set for September: Commercial preparations for brepocitinib in dermatomyositis are described as progressing well, with launch targeted by the end of September 2026. The company describes this as a potential launch. Source
Cutaneous sarcoidosis Phase 3 enrolling: First patients were enrolled in BEACON+, a Part B to the Phase 2 BEACON trial. It randomizes patients 3:2 to brepocitinib 45mg or placebo, with a 50% CSAMI-A reduction at Week 16 as primary endpoint. Source
Moderna paid $950 million in July: Genevant and Arbutus received $950 million from Moderna in July 2026 under the $2.25 billion settlement. A further $1.3 billion is contingent on a favorable resolution of the Section 1498 appeal. Source
Suits filed against Pfizer and BioNTech: In July 2026 Genevant and Arbutus filed three international suits against Pfizer and BioNTech, one in Canada and two before the UPC, covering 21 jurisdictions in total on lipid nanoparticle patents. Source
Cash position of $3.9 billion: Cash, cash equivalents, restricted cash and marketable securities were $3.9 billion at June 30, 2026, excluding the July Moderna payment, down from $4.3 billion at March 31, 2026. Management cited cash runway into profitability. Source

“This quarter has been a moment of relative quiet between our incredibly busy last twelve months and our even busier year ahead,”
Matt Gline, CEO of Roivant

Guidance

Area	Period	Figure	Against last quarter
Commercial launch (brepocitinib, dermatomyositis) Source	By end of September 2026	by the end of September 2026	Kept
Phase 3 topline data (non-infectious uveitis) Source	Second half of calendar 2026	second half of calendar year 2026	Kept
Phase 3 topline data (cutaneous sarcoidosis) Source	Calendar 2028	calendar year 2028	New
Proof-of-concept topline data (cutaneous lupus) Source	Second half of calendar 2026	second half of calendar year 2026	Kept
D2T RA program update (IMVT-1402) Source	Second half of calendar 2026	second half of calendar year 2026	Kept
Phase 2 topline data (mosliciguat, PH-ILD) Source	Second half of calendar 2026	second half of calendar year 2026	Kept
Registrational topline data (GD and MG, IMVT-1402) Source	Calendar 2027	calendar year 2027	Kept
Registrational topline data (CIDP and SjD, IMVT-1402) Source	Calendar 2028	calendar year 2028	New
Phase 3 enrollment (BEACON+, cutaneous sarcoidosis) Source	Phase 3 study	approximately 140 patients across approximately 70 sites	New
Contingent litigation payment (Moderna) Source	Contingent on Section 1498 appeal	$1.3 billion	Kept

What changed from last quarter

New guidance: Topline timing for the cutaneous sarcoidosis Phase 3 study is given as calendar 2028; the prior release gave no topline date. Source
New guidance: Topline timing for the CIDP and Sjögren's disease registrational trials of IMVT-1402 is given as calendar 2028; the prior release gave no date. Source
New: First patients were enrolled in the cutaneous sarcoidosis Phase 3 study; the prior release expected the program to start in the second half of 2026. Source
New: Genevant and Arbutus received the $950 million Moderna payment in July 2026, which the prior release had said would be paid in July 2026. Source
New: Genevant and Arbutus filed new international lawsuits against Pfizer and BioNTech in July 2026, not reported in the prior release. Source
New: The company repurchased 7.3 million common shares in the quarter, a buyback not reported in the prior release. Source

Results and cost drivers

Net loss widened to $290.6 million: The company reported a net loss of $290.6 million, or $0.26 per share, against a loss of $273.9 million, or $0.33 per share, a year earlier. Net loss attributable to Roivant Sciences Ltd. was $189.8 million. Source
Non-GAAP net loss was $243.7 million: Non-GAAP net loss was $243.7 million, against $170.1 million a year earlier. The measure excludes share-based compensation, depreciation and amortization, and a $36.6 million gain on equity investments. Source
R&D rose on program and bonus costs: R&D expense was $202.0 million, up $49.1 million. Program-specific costs rose $49.4 million, and personnel costs rose $3.8 million, including $4.1 million of Moderna settlement bonuses. Source
G&A rose on settlement bonuses: G&A expense was $165.5 million, up $31.5 million. The increase included $18.8 million of Moderna-related employee bonuses and $6.3 million of employer payroll taxes on equity awards. Source

Priovant brepocitinib programs

Dermatomyositis launch set for September: Commercial preparations for brepocitinib in dermatomyositis are described as progressing well, with launch targeted by the end of September 2026. The company describes this as a potential launch. Source
Cutaneous sarcoidosis Phase 3 enrolling: First patients were enrolled in BEACON+, a Part B to the Phase 2 BEACON trial. It randomizes patients 3:2 to brepocitinib 45mg or placebo, with a 50% CSAMI-A reduction at Week 16 as primary endpoint. Source
Phase 2 sarcoidosis result cited: In the Phase 2 study, 77% of patients on brepocitinib 45mg reached the 50% CSAMI-A endpoint at Week 16, against 0% on placebo. The FDA granted Breakthrough Therapy Designation for CS on this basis. Source

“Our teams are deep in preparation for the potential launch of brepocitinib in dermatomyositis,”
Matt Gline, CEO of Roivant

Immunovant and Pulmovant programs

IMVT-1402 timelines held on track: Timelines remain on track for IMVT-1402 across announced indications, including potentially registrational trials in GD, MG, CIDP, D2T RA and SjD, and a proof-of-concept trial in CLE. Source
Registrational readouts run to 2028: Potentially registrational topline data for IMVT-1402 are expected in 2027 for GD and MG, and in 2028 for CIDP and SjD. Source
CLE readout and D2T RA update due: Topline data from the CLE proof-of-concept trial are expected in the second half of calendar 2026. An update on the D2T RA potentially registrational program is also expected then. Source
Anti-FcRn costs drove program spend: Program-specific costs rose mainly because of the anti-FcRn franchise, which accounted for $44.8 million of the increase, reflecting the progression of the programs. Source
Mosliciguat PH-ILD on track: The Phase 2 study of mosliciguat in PH-ILD remains on track, with topline data expected in the second half of calendar 2026. Mosliciguat program costs rose $4.7 million in the quarter. Source

Genevant and Moderna settlement

Moderna paid $950 million in July: Genevant and Arbutus received $950 million from Moderna in July 2026 under the $2.25 billion settlement. A further $1.3 billion is contingent on a favorable resolution of the Section 1498 appeal. Source
Suits filed against Pfizer and BioNTech: In July 2026 Genevant and Arbutus filed three international suits against Pfizer and BioNTech, one in Canada and two before the UPC, covering 21 jurisdictions in total on lipid nanoparticle patents. Source
U.S. Pfizer case still in discovery: The discovery phase of the U.S. case against Pfizer and BioNTech is ongoing, the company said. Source

“if we are successful across even some of these endeavors, we will look radically different on the other side.”
Matt Gline, CEO of Roivant

Cash and share repurchases

Cash position of $3.9 billion: Cash, cash equivalents, restricted cash and marketable securities were $3.9 billion at June 30, 2026, excluding the July Moderna payment, down from $4.3 billion at March 31, 2026. Management cited cash runway into profitability. Source
Buybacks of 7.3 million shares: The company repurchased 7.3 million common shares for an aggregate price of approximately $208.7 million in the three months ended June 30, 2026. Source
Weighted share count rose: Weighted average basic and diluted shares were 720.8 million, against 680.3 million a year earlier. Source

Pipeline breadth and subsidiary model

Non-infectious uveitis readout pending: Topline data from the Phase 3 study of brepocitinib in non-infectious uveitis are expected in the second half of calendar 2026. Source
Lichen planopilaris enrollment progressing: Enrollment in Part 1 of the Phase 2b/3 study of brepocitinib in lichen planopilaris is progressing well. Source
Other brepocitinib indications explored: The company continues to actively explore other indications for brepocitinib beyond the programs listed. Source
Vant subsidiary model: Roivant says it advances its pipeline by creating nimble subsidiaries, called Vants, to develop and commercialize its medicines and technologies. Source

Coming up, as management said on 6 August 2026

Dermatomyositis launch by September end: Launch of brepocitinib in dermatomyositis is expected by the end of September 2026. Source
Uveitis Phase 3 topline data: Topline data from the Phase 3 study in non-infectious uveitis are expected in the second half of calendar 2026. Source
CLE readout and D2T RA update: Immunovant expects to report topline data from the proof-of-concept trial of IMVT-1402 in CLE in the second half of calendar 2026, with a D2T RA update in the same period. Source
Mosliciguat PH-ILD topline data: Topline data from the ongoing Phase 2 trial of mosliciguat in PH-ILD are expected in the second half of calendar 2026. Source
Moderna appeal decides further payment: The additional $1.3 billion depends on the outcome of Moderna's Section 1498 appeal. Source
Registrational readouts in 2027: Topline data across potentially registrational IMVT-1402 trials in GD and MG are expected in calendar 2027. Source
Brepocitinib indication work continues: The company continues to explore other brepocitinib indications. Source

Figures management reported

Figure	Reported
GAAP R&D expense Source	$202.0 million, three months ended June 30, 2026
Non-GAAP R&D expense Source	$192.9 million
Brepocitinib dermatomyositis launch Source	by end of September 2026
Regulatory status, brepocitinib DM Source	under FDA review
Phase 3 cutaneous sarcoidosis enrollment Source	approximately 140 patients, approximately 70 sites
Phase 2 cutaneous sarcoidosis response Source	77% vs 0% placebo
Trial readouts, second half 2026 Source	NIU Phase 3, CLE proof-of-concept, PH-ILD Phase 2
Patent litigation settlement (Moderna) Source	$2.25 billion

Risks management discussed

Regulatory: Brepocitinib is described as under FDA review for dermatomyositis, so the launch is described as potential rather than confirmed. Source
Financial: A further $1.3 billion from the Moderna settlement depends on a favorable outcome of Moderna's Section 1498 appeal. Source
External: The U.S. Pfizer and BioNTech patent case remains in its discovery phase. Source

Earlier plans management reported on

On track: Management said launch preparations are on track for launch by the end of September 2026. Source
On track: Management said timelines remain on track across announced IMVT-1402 indications. Source
On track: Management said the mosliciguat Phase 2 study remains on track for topline data in the second half of 2026. Source
Met: The prior release said Moderna would pay $950 million in July 2026; the current release reports receipt in July. Source
Not stated: The prior release expected the Phase 3 program to start in the second half of 2026; first patients are now enrolled. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

Roivant Reports Financial Results for the First Quarter Ended June 30, 2026, and Provides Business Update

Commercial preparations for brepocitinib in dermatomyositis (DM) are progressing well and on track for launch by the end of September 2026; topline data from Phase 3 study in non-infectious uveitis (NIU) expected in the second half of calendar year 2026
First patients enrolled in the Phase 3 study of brepocitinib in cutaneous sarcoidosis (CS), with topline data expected in calendar year 2028; enrollment in Part 1 of the Phase 2b/3 study in lichen planopilaris (LPP) is progressing well
IMVT-1402 proof-of-concept trial in cutaneous lupus erythematosus (CLE) topline data expected in the second half of calendar year 2026; all clinical development timelines remain on track for IMVT-1402
Mosliciguat Phase 2 study in pulmonary hypertension associated with interstitial lung disease (PH-ILD) remains on track, with topline data expected in the second half of calendar year 2026
Genevant and Arbutus received $950 million from Moderna in July 2026 under $2.25 billion settlement, with additional $1.3 billion contingent on favorable resolution of Moderna’s § 1498 appeal; filed new international lawsuits against Pfizer and BioNTech covering 21 jurisdictions
Roivant reported consolidated cash, cash equivalents, restricted cash and marketable securities of $3.9 billion as of June 30, 2026, excluding the cash payment received from Moderna in July, supporting cash runway into profitability
Roivant will host a live conference call and webcast at 8:00 a.m. ET on Thursday, August 6, 2026, to report its financial results for the first quarter ended June 30, 2026, and provide a business update

BASEL,

Switzerland and LONDON and NEW YORK, August 6, 2026 - Roivant (Nasdaq: ROIV) today reported its financial results for the first quarter ended June 30, 2026, and provided a business update.

“This quarter has been a moment of relative quiet between our incredibly busy last twelve months and our even busier year ahead,” said Matt Gline, CEO of Roivant. “Our teams are deep in preparation for the potential launch of brepocitinib in dermatomyositis, we have enrolled the first patients in a new Phase 3 trial in cutaneous sarcoidosis, and we expect topline readouts from our NIU, PH-ILD and CLE studies before year end. We remain focused on delivering for patients across each of these programs, and if we are successful across even some of these endeavors, we will look radically different on the other side.”

Recent Developments

Priovant: Commercial preparations for brepocitinib in dermatomyositis (DM) are progressing well and on track for launch by the end of September 2026. The first patients have been enrolled in the Phase 3 study of brepocitinib in cutaneous sarcoidosis (CS). This follows brepocitinib’s Phase 2 study, the first positive placebo-controlled study in CS, which led to FDA Breakthrough Therapy Designation.

The Phase 3 study (BEACON+) will be conducted as a Part B to the positive Phase 2 BEACON trial. BEACON+ will enroll approximately 140 patients with CS across approximately 70 sites globally. Patients will be randomized 3:2 between brepocitinib 45mg once daily and placebo. The primary endpoint is the proportion of patients achieving a 50% or greater reduction in the Cutaneous Sarcoidosis Activity and Morphology Instrument - Activity Score (CSAMI-A) at Week 16. In Phase 2, 77% of brepocitinib 45mg patients achieved this endpoint compared to 0% of placebo patients.

CS is an inflammatory granulomatous skin disease affecting approximately 40,000 adults in the United States. The condition disproportionately impacts Black Americans. Unlike many inflammatory skin diseases, inadequately treated cutaneous sarcoidosis can rapidly cause permanent scarring and destruction of bone, cartilage and hair follicles. Despite this significant unmet therapeutic need, there are currently no FDA-approved therapies for CS.

Additionally, enrollment in Part 1 of the Phase 2b/3 study in lichen planopilaris (LPP) is progressing well.

Immunovant: All clinical development timelines remain on track for IMVT-1402 across announced indications, including potentially registrational trials in Graves’ disease (GD), myasthenia gravis (MG), chronic inflammatory demyelinating polyneuropathy (CIDP), difficult-to-treat rheumatoid arthritis (D2T RA) and Sjögren’s disease (SjD), and a proof-of-concept trial in cutaneous lupus erythematosus (CLE).
Pulmovant: Phase 2 study of mosliciguat in pulmonary hypertension associated with interstitial lung disease (PH-ILD) remains on track.
Genevant: In July 2026, Genevant Sciences GmbH (Genevant) and Arbutus received $950 million from Moderna, the initial payment under the global $2.25 billion patent infringement settlement, and filed new international lawsuits against Pfizer and BioNTech.
Roivant: Roivant reported consolidated cash, cash equivalents, restricted cash and marketable securities of $3.9 billion as of June 30, 2026, excluding the cash payment received from Moderna in July, supporting cash runway into profitability. For the three months ended June 30, 2026, Roivant repurchased 7.3 million common shares for an aggregate repurchase price of approximately $208.7 million.

Major Upcoming Milestones

Priovant expects the commercial launch of brepocitinib in DM by the end of September 2026 and topline data from the Phase 3 study in NIU and Phase 3 study in CS in the second half of calendar year 2026 and calendar year 2028, respectively. Roivant continues to actively explore other indications for brepocitinib.
Immunovant expects to report topline data from the proof-of-concept trial of IMVT-1402 in CLE and provide an update on the potentially registrational program of IMVT-1402 in D2T RA in the second half of calendar year 2026. In calendar year 2027, topline data are expected across potentially registrational trials of IMVT-1402 in GD and MG. In calendar year 2028, topline data are expected across potentially registrational trials of IMVT-1402 in CIDP and SjD.
Pulmovant expects to report topline data from the ongoing Phase 2 trial of mosliciguat in PH-ILD in the second half of calendar year 2026.
Genevant LNP litigation continues to progress. An additional $1.3 billion payment under the Moderna settlement is contingent upon a resolution of Moderna's Section 1498 appeal favorable to Genevant and Arbutus. Separately, in July 2026 they filed three international lawsuits against Pfizer and BioNTech - one in Canada and two before the UPC - seeking to enforce patents protecting their innovative lipid nanoparticle technology. The actions seek relief across 20 European countries (including France, Germany, Italy and the Netherlands) which, together with the Canadian action, cover 21 jurisdictions in total. The discovery phase of the U.S. Pfizer/BioNTech case is ongoing.

First Quarter Ended June 30, 2026 Financial Summary

Cash Position and Marketable Securities

As of June 30, 2026, the Company had consolidated cash, cash equivalents, restricted cash and marketable securities of $3.9 billion.

Research and Development Expenses

Research and development (R&D) expenses increased by $49.1 million to $202.0 million for the three months ended June 30, 2026, compared to $152.9 million for the three months ended June 30, 2025. This increase was primarily driven by an increase in program-specific costs of $49.4 million and personnel-related expenses of $3.8 million.

The increase of $49.4 million in program-specific costs was primarily driven by increases of $44.8 million related to the anti-FcRn franchise and $4.7 million related to mosliciguat, reflecting the progression of our programs. The increase of $3.8 million in personnel-related expenses was primarily driven by $4.1 million in employee bonuses related to the global settlement reached with Moderna in March 2026.

The majority of share-based compensation and personnel-related expenses, which are unallocated internal costs, were related to the anti-FcRn franchise activities at Immunovant during the three months ended June 30, 2026 and 2025.

Non-GAAP R&D expenses were $192.9 million for the three months ended June 30, 2026, compared to $141.0 million for the three months ended June 30, 2025.

General and Administrative Expenses

General and administrative (G&A) expenses increased by $31.5 million to $165.5 million for the three months ended June 30, 2026, compared to $134.0 million for the three months ended June 30, 2025. This increase was primarily due to an increase in personnel-related expense of $26.1 million, largely resulting from $18.8 million in employee bonuses related to the global settlement reached with Moderna in March 2026 and $6.3 million of employer payroll taxes associated with equity award activity.

Non-GAAP G&A expenses were $90.7 million for the three months ended June 30, 2026, compared to $62.6 million for the three months ended June 30, 2025.

Net Loss

Net loss was $290.6 million for the three months ended June 30, 2026, compared to $273.9 million for the three months ended June 30, 2025. On a per common share basis, net loss was $0.26 and $0.33, respectively, for the three months ended June 30, 2026 and 2025. Non-GAAP net loss was $243.7 million for the three months ended June 30, 2026, compared to $170.1 million for the three months ended June 30, 2025.

Selected Balance Sheet Data

(unaudited, in thousands)

	June 30, 2026	March 31, 2026
Cash and cash equivalents	$1,248,456	$1,419,232
Marketable securities	2,593,626	2,872,601
Litigation settlement receivable	771,627	770,235
Total assets	5,306,493	5,708,687
Total liabilities	384,624	416,275
Total shareholders’ equity	4,921,869	5,292,412
Total liabilities and shareholders’ equity	5,306,493	5,708,687

Condensed Consolidated Statements of Operations

(unaudited, in thousands, except share and per share amounts)

	Three Months Ended June 30,
	2026	2025
Revenue	$1,442	$2,170
Operating expenses:
Cost of revenues	284	154
Research and development (includes $8,721 and $11,099 of share-based compensation expense for the three months ended June 30, 2026 and 2025, respectively)	202,016	152,919
General and administrative (includes $74,621 and $71,079 of share-based compensation expense for the three months ended June 30, 2026 and 2025, respectively)	165,527	134,019
Total operating expenses	367,827	287,092
Gain on litigation settlement	392	-
Loss from operations	(365,993)	(284,922)
Change in fair value of investments	(36,637)	19,125
Change in fair value of liability instruments	-	2,329
Interest income	(36,922)	(48,322)
Other expense, net	2,130	11,208
Loss before income taxes	(294,564)	(269,262)
Income tax (benefit) expense	(3,958)	4,649
Net loss	(290,606)	(273,911)
Net loss attributable to noncontrolling interests	(100,769)	(50,556)
Net loss attributable to Roivant Sciences Ltd.	$(189,837)	$(223,355)
Net loss per common share - basic and diluted	$(0.26)	$(0.33)
Weighted average shares outstanding - basic and diluted	720,776,739	680,286,922

Reconciliation of GAAP to Non-GAAP Financial Measures

(unaudited, in thousands)

		Three Months Ended June 30,
	Note	2026	2025
Net loss		$(290,606)	$(273,911)
Adjustments:
Research and development:
Share-based compensation	(1)	8,721	11,099
Depreciation and amortization	(2)	346	786
General and administrative:
Share-based compensation	(1)	74,621	71,079
Depreciation and amortization	(2)	254	312
Gain on litigation settlement	(3)	(392)	-
Other:
Change in fair value of investments	(4)	(36,637)	19,125
Change in fair value of liability instruments	(5)	-	2,329
Estimated income tax impact from adjustments	(6)	-	(943)
Adjusted net loss (Non-GAAP)		$(243,693)	$(170,124)

		Three Months Ended June 30,
	Note	2026	2025
Research and development expenses		$202,016	$152,919
Adjustments:
Share-based compensation	(1)	8,721	11,099
Depreciation and amortization	(2)	346	786
Adjusted research and development expenses (Non-GAAP)		$192,949	$141,034

		Three Months Ended June 30,
	Note	2026	2025
General and administrative expenses		$165,527	$134,019
Adjustments:
Share-based compensation	(1)	74,621	71,079
Depreciation and amortization	(2)	254	312
Adjusted general and administrative expenses (Non-GAAP)		$90,652	$62,628

Notes to non-GAAP financial measures:

(1)Represents non-cash share-based compensation expense.

(2)Represents non-cash depreciation and amortization expense.

(3)As a result of the global settlement with Moderna entered in March 2026, the Company recognized a gain for Genevant’s expected portion of a non-contingent, non-creditable and non-refundable payment to be made by Moderna to Genevant and Arbutus during the year ended March 31, 2026. The Company recognized an additional gain during the three months ended June 30, 2026, reflecting the final allocation to Genevant once litigation costs incurred were finalized.

(4)Represents the unrealized (gain) loss on equity investments in unconsolidated entities that are accounted for at fair value with changes in value reported in earnings.

(5)Represents the change in fair value of liability instruments, which is non-cash and primarily includes the loss relating to the measurement and recognition of fair value on a recurring basis of certain liabilities.

(6)Represents the estimated tax effect of the adjustments.

Investor Conference Call Information

Roivant will host a live conference call and webcast at 8:00 a.m. ET on Thursday, August 6, 2026, to report its financial results for the first quarter ended June 30, 2026, and provide a business update.

To access the conference call by phone, please register online using this registration link. The presentation and webcast details will also be available under “Events & Presentations” in the Investors section of the Roivant website at https://investor.roivant.com/news-events/events. The archived webcast will be available on Roivant’s website after the conference call.

About Roivant

Roivant (Nasdaq: ROIV) is a biopharmaceutical company that aims to improve the lives of patients by accelerating the development and commercialization of medicines that matter. Roivant’s pipeline includes brepocitinib, a potent small molecule inhibitor of JAK1 and TYK2 currently under review at the FDA for the treatment of dermatomyositis and also in late stage development for the treatment of non-infectious uveitis, cutaneous sarcoidosis and lichen planopilaris; IMVT-1402, a fully human monoclonal antibody targeting FcRn in development across several IgG-mediated autoimmune indications; and mosliciguat, an inhaled sGC activator in development for pulmonary hypertension associated with interstitial lung disease. We advance our pipeline by creating nimble subsidiaries or “Vants” to develop and commercialize our medicines and technologies. For more information, visit www.roivant.com.

Roivant Forward-Looking Statements

This press release contains forward-looking statements. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are usually identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and variations of such words or similar expressions. The words may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act.

Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, and statements that are not historical facts, including statements about the clinical and therapeutic potential of our product candidates, the availability and success of topline results from our ongoing clinical trials, any commercial potential of our product candidates following applicable regulatory approvals and the outcome of any pending litigation. In addition, any statements that refer to projections, forecasts or other characterizations of future events, results or circumstances, including any underlying assumptions, are forward-looking statements. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors.

Although we believe that our plans, intentions, expectations and strategies as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to, those risks set forth in the Risk Factors section of our filings with the U.S. Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment in which new risks emerge from time to time. These forward-looking statements are based upon the current expectations and beliefs of our management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as required by applicable law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts
Keyur Parekh keyur.parekh@roivant.com
Stephanie Lee stephanie.lee@roivant.com