Immunovant’s shares jumped after early, open-label “compelling” Phase 2b data for IMVT-1402 in difficult-to-treat rheumatoid arthritis. The program enrolled patients who had already failed at least two prior advanced therapies, including TNF and JAK inhibitors, and reported 16-week response rates across ACR measures. The trial remains ongoing as Immunovant and parent Roivant continue processing the dataset. Company management indicated next steps include further analysis and discussions with the U.S. FDA, signaling a potential path toward a regulatory strategy if the emerging signal holds. The readout is notable because FcRn inhibition targets immunoglobulin recycling, offering a different mechanism than standard RA biologics and small molecules. —