New York, February 8, 2026, 08:54 EST — Market closed
- Roivant (ROIV) jumped more than 20% Friday after the company posted promising phase 2 data on brepocitinib for a rare skin disorder.
- The company has filed its U.S. approval submission for brepocitinib in dermatomyositis, lining up yet another possible catalyst for its already crowded 2026 slate.
- Investors are eyeing Monday’s open, bracing for fresh momentum and awaiting critical legal and clinical news due before the quarter’s end.
Roivant Sciences Ltd (ROIV.O) heads into Monday’s U.S. open after a standout Friday, when shares jumped 22.14% to finish at $25.82. Volume was striking—over 24 million shares traded, crushing the stock’s typical activity. 1
Roivant shares shot higher after the company posted robust Phase 2 results for brepocitinib in cutaneous sarcoidosis, a particularly challenging inflammatory skin disease. Alongside the data, Roivant said it’s submitted a New Drug Application to the U.S. Food and Drug Administration looking for a green light to market brepocitinib for dermatomyositis. That NDA represents the official step for drugmakers seeking new therapy approval. 2
Why it matters now: Roivant shares are back in classic pipeline territory. A single, solid mid-stage result — with a pivotal trial coming up — has the potential to flip the story fast. With no approved therapy on the market, there’s nothing to anchor pricing or gauge market share.
The BEACON trial enrolled 31 patients at 15 sites around the U.S., testing daily brepocitinib against placebo over 16 weeks. By the end, the 45 mg group’s main skin-activity score had shot up 22.3 points—barely any movement for placebo, which was up just 0.7, according to the company. That same 45 mg dose landed 62% of patients in what the company terms “functional remission.” 3
Roivant’s message balanced caution with confidence. CEO Matt Gline called the cutaneous sarcoidosis data “the first ever positive placebo-controlled trial” in the disease. At the University of Pennsylvania, physician Misha Rosenbach labeled the results “a watershed moment” for patients, the program’s statement said. 2
But the earnings report laid bare Roivant’s growing losses. In the quarter ending Dec. 31, revenue came in at only $2.0 million, while losses from continuing operations hit $313.7 million. The company ended the quarter holding $4.5 billion in consolidated cash, cash equivalents, restricted cash and marketable securities, the filing shows. 4
Roivant shares surged, outshining a strong session for biotech overall. The SPDR S&P Biotech ETF climbed about 4% on Friday. The iShares Nasdaq Biotechnology ETF tacked on nearly 3%. Even with the broader rally, Roivant set itself apart as the sector’s standout mover that day.
David Risinger at Leerink Partners called the cutaneous sarcoidosis data “exceptional,” and sees a “strong likelihood of blockbuster sales” for Roivant in that space. He figures this would come on top of the blockbuster potential analysts already expect from the drug’s initial two indications. 5
But there’s a catch traders can’t ignore: BEACON’s size. The study was small, and rare-disease trials like this one don’t always deliver the same results in larger patient populations. Another wrinkle—regulators tend to home in on safety issues with drugs targeting JAK pathways. The timing for the FDA’s dermatomyositis decision is also up in the air.
The focus shifts this week to see if Friday’s rally can hold as markets reopen Monday. Investors are also watching for any word from Roivant or its partners about advancing cutaneous sarcoidosis to Phase 3. Looking further out, the company has flagged a key date: a U.S. jury trial over Moderna’s lipid nanoparticle technology, scheduled for March 2026, could pull its ongoing legal battles back into view. 6
