Roivant Sciences earnings: September 2026 quarter

Roivant Sciences sold its first approved drug in the September 2026 quarter. Sales rose to $35.1 million from $1.6 million a year ago, almost all from five weeks of LISRAYA. The loss from running the business narrowed, but costs are still many times sales. A one-off payout from its Moderna settlement money made the loss to shareholders look worse than the business itself. ¹

Against what analysts expected

Roivant lost $0.27 a share as reported; the single analyst forecast on Nasdaq's earnings calendar was a loss of $0.52, so, set against that reported figure, the loss was about 48% smaller than expected. ¹²

The strong points

• Roivant's first approved drug, LISRAYA, brought in $31.0 million in its first five weeks on sale, turning a company with almost no sales a year ago into one with a product on the market. ¹
• The loss from running the business narrowed to $268.0 million from $306.2 million a year ago, helped by lower research spending. ¹
• The company ended September with $4.2 billion in cash and marketable securities, which it says will last until it makes a profit. ¹

The weak points

• Sales covered only about 12% of the quarter's operating costs of $303.2 million, so Roivant is still losing far more than it earns. ¹
• Part of the Moderna settlement money, $95.9 million, went to holders of share awards in the parent company of Genevant rather than staying with Roivant's shareholders. ¹

What the company expects

• After its trials of brepocitinib in a form of eye inflammation (non-infectious uveitis) met their goals, Roivant now plans to apply for US approval in the first half of 2027. ¹
• Roivant now thinks it is unlikely to take its drug IMVT-1402 further in Sjögren's disease, dropping a larger trial it had expected to report in 2028, because of changes in the treatment field. ¹

Our verdict on the quarter

A strong report. The loss per share was much smaller than analysts expected and the first drug sales arrived while the business lost less than a year ago, though Roivant gives no sales or profit forecast and remains deep in the red.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Notes

1. Roivant Sciences' results release, 9 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 9 November 2026. ↩