Stock Alert: Immunovant Up 7% On Positive Results From Phase 2 Trial Of Myasthenia Gravis Treatment

(RTTNews) - Shares of Immunovant, Inc. (IMVT) are currently gaining nearly 7% on Tuesday morning after the company announced positive results from a mid-stage trial of its treatment for myasthenia gravis.

IMVT is currently trading at $35.80, up $2.32 or 6.93%, on the Nasdaq.

Immunovant, a clinical-stage biopharmaceutical company focused on autoimmune diseases, announced positive topline results from ASCEND MG, a Phase 2a study of IMVT-1401 in patients with myasthenia gravis.

Myasthenia gravis is a long-term neuromuscular disease that leads to varying degrees of skeletal muscle weakness. The most commonly affected muscles are those of the eyes, face, and swallowing. It can result in double vision, drooping eyelids, trouble talking, and trouble walking.

The trial was designed to evaluate the safety, tolerability, pharmacodynamics, and efficacy of IMVT-1401 in patients with moderate-to-severe generalized myasthenia gravis.

Patients treated with IMVT-1401 showed a mean 3.8-point improvement on the on the Myasthenia Gravis Activities of Daily Living scale, which was significantly better than a mean decline of 0.6 for placebo arm.