LISRAYA Sales Reach $31 Million in Roivant’s First Five Weeks
Key Facts
Roivant Sciences said on November 9 that net revenue was $35.121 million in the three months ended September 30, 2026, compared with $1.571 million in the same period a year earlier. Most of the revenue came from LISRAYA, which generated $31.0 million in net product revenue during its first five weeks on the market, following U.S. Food and Drug Administration approval in August 2026. The launch marked the period’s first significant commercial contribution, with revenue exceeding most of the reported quarterly total. The company said cash, cash equivalents and marketable securities totaled $4.2 billion on September 30, supporting its runway through profitability. It said the balance included the payment it received from Moderna in July, a detail relevant to assessing available liquidity.
Results were not limited to revenue growth: selling, general and administrative expenses rose $11.0 million year over year to $154.1 million in the quarter ended in September, from $143.1 million a year earlier. Roivant attributed the increase primarily to the commercial launch of LISRAYA, reflecting the costs of expanding the product’s presence after regulatory approval. In the prior quarter, research and development expenses had risen $49.1 million year over year to $202.0 million in the three months ended June 30, 2026, from $152.9 million in the same period of 2025. The new revenue growth comes as the group invests in launches and clinical programs alongside a substantial liquidity position. The documented statement did not include a reliable comparison with analyst estimates for earnings or revenue.
Roivant’s portfolio includes an Immunovant trial of IMVT-1402 in patients with difficult-to-treat rheumatoid arthritis. The company said the 600 mg dose met the primary endpoint of ACR20 at week 28, with a response rate of 92.5% versus 75.6% for placebo, at a probability value of 0.0139. The study was designed to support a potential registration path, putting the next regulatory step in focus alongside the commercial product’s performance. Roivant said it plans to hold discussions with the FDA later in 2026 to determine the next steps for the drug’s registration program in this patient group. It also said Priovant intends to submit a supplemental approval application for brepocitinib to treat non-infectious uveitis in the first half of 2027.
On liquidity, Roivant said Genevant and Arbutus received $950 million from Moderna in July 2026 as an initial payment under a $2.25 billion global settlement of a patent dispute. A further $1.3 billion remained contingent on a favorable resolution of Moderna’s appeal under Section 1498, and therefore was not included as a realized cash payment in the description of what the companies received. The payment helps explain the company’s reported cash balance at the end of September, alongside LISRAYA sales and quarterly revenue. Chief Executive Matt Gline said in August that the company expected preliminary results before year-end from studies in non-infectious uveitis, pulmonary hypertension associated with interstitial lung disease, and cutaneous lupus erythematosus. Those timelines provide near-term context for what the market is tracking across the research and development portfolio.
Aura Biosciences’ CoMpass trial remains a development separate from Roivant’s results, despite appearing in initial coverage of the news. In an August update, Aura said enrollment in the Phase 3 trial of bel-sar for early-stage choroidal melanoma had reached 108 patients, exceeding its enrollment target, and that it expected preliminary data in the second half of 2027. The company had announced on June 1 that enrollment of 108 patients was complete, with results for the primary endpoint at 15 months expected in the second half of 2027. The study is being conducted under a special protocol assessment agreement with the U.S. Food and Drug Administration, covering the trial design and planned analyses for a potential biologics license application. Those results are expected later and are not part of Roivant’s results for the quarter ended in September.
In its other program for non-muscle-invasive bladder cancer, Aura said in August that interim data in intermediate-risk patients showed an objective response in 81% after 3 months, including a complete response in 69%. It added that it was reprioritizing the program to focus on eye tumors, while remaining committed to completing data collection through the protocol-specified follow-up at 12 months. The company said its revised operating plan and a workforce reduction of approximately 20%, along with disciplined capital allocation, were expected to extend its cash runway into the first half of 2029. Aura expects to provide an update on its additional eye-tumor programs, including guidance on completing the studies, in the first quarter of 2027. In trading, Aura shares closed at $6.56 and Roivant shares at $38.88 on November 6, 2026, closing prices recorded before the results announcement and not a reaction to its release.
Roivant said its next investor event will be an investor day in New York and online on December 9, 2026. The company’s schedule also listed its fiscal second-quarter results call for November 9 at 8:00 a.m. Eastern time, the time of the results announcement. While revenue currently centers on the commercial launch of LISRAYA, near-term attention turns to regulatory discussions on IMVT-1402 and clinical readouts expected before year-end. The supplemental application for brepocitinib and Aura’s plan to update its eye-tumor programs are scheduled for later in 2027. These milestones distinguish the revenue momentum reported now from the data and decisions the companies are awaiting in coming periods.