Market News / Story
IMVT, ROIV Stocks Slide As Argenx Sjögren’s Trial Failure Hits Drug Class
Stocktwits ·
Stocktwits reports: Shares of Immunovant (IMVT) sold off Thursday as traders treated Argenx’s (ARGX) failed late-stage Sjögren’s trial as a warning for its own experimental drug for the autoimmune disorder. Immunovant (IMVT) fell about 6% to $30.06 in morning trading. Its parent Roivant (ROIV) was also weaker, trading down roughly 2%. Why Did IMVT, ROIV Fall On Rival Trial? Immunovant is developing IMVT-1402 in an ongoing mid-stage study in Sjögren’s disease. Argenx’s efgartigimod works the…