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Immunovant Stock Surges on Positive Clinical Trial Results for Grave’s Disease Treatment
Immunovant Stock Surges on Positive Clinical Trial Results for Grave’s Disease Treatment
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BTCCSquare news:
Immunovant shares soared nearly 11% Wednesday, dramatically outperforming the S&P 500's modest 0.5% gain, after releasing promising data for its experimental drug batoclimab. The biotech firm reported that 17 of 21 Grave's disease patients maintained normal thyroid function six months post-treatment in a proof-of-concept study.
CEO Eric Venker called the results "potentially transformative," suggesting the treatment could address significant unmet needs if approved by regulators. Grave's disease—a chronic autoimmune disorder causing hyperthyroidism—represents a compelling market opportunity for advanced therapies like batoclimab.
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