Immunovant (IMVT) Stock Jumps After $550 Million Share Offering as Graves’ Disease Launch Comes Into Focus
Immunovant shares rose 9% to $25.75 Thursday after the company announced a $550 million common stock offering to fund development and possible launch of its lead drug, IMVT‑1402, for Graves’ disease. The offering priced at $21 per share, an 11% discount, and is expected to close December 12. Roivant Sciences will participate. Immunovant’s market value reached about $4 billion.