Roivant Sciences Ltd. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Roivant Sciences Ltd. filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing financial performance and operational updates.</b>

AI Summary

Roivant Sciences Ltd. (ROIV) filed a Quarterly Report (10-Q) with the SEC on February 13, 2024. Roivant Sciences Ltd. filed its 10-Q report for the period ending December 31, 2023. The filing covers the period from April 1, 2023, to December 31, 2023. Key financial data points and segment revenues are detailed within the report. The company's fiscal year ends on March 31st. The report includes information on common stock, retained earnings, and additional paid-in capital.

Why It Matters

For investors and stakeholders tracking Roivant Sciences Ltd., this filing contains several important signals. This filing provides investors with the latest financial snapshot of Roivant Sciences, crucial for understanding its performance and strategic direction. The 10-Q report contains specific financial figures and segment data that are essential for valuation and investment decisions.

Risk Assessment

Risk Level: — Roivant Sciences Ltd. shows moderate risk based on this filing. The company operates in the pharmaceutical industry, which is subject to significant regulatory hurdles, lengthy development cycles, and intense competition, posing inherent risks to financial performance and market position.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to assess Roivant Sciences' current financial health and future prospects.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-13 — Filing Date (Date the report was filed)
• 03-31 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• Roivant Sciences Ltd. (company) — Filer of the 10-Q report
• 20231231 (date) — Period of report end date
• 20240213 (date) — Filing date
• 0001140361-24-007260 (other) — Accession Number
• 2834 (other) — Standard Industrial Classification (SIC) code for Pharmaceutical Preparations

FAQ

Industry Context

Roivant Sciences operates within the pharmaceutical and biotechnology industry, focusing on developing and commercializing medicines.

Regulatory Implications

As a publicly traded company, Roivant Sciences is subject to SEC regulations and reporting requirements, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the detailed financial statements within the 10-Q for the period ending December 31, 2023.
2. Analyze any disclosed segment revenues and expenses to understand business unit performance.
3. Examine the risk factors section for any new or updated material risks.

Key Dates

• 2023-12-31: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-13: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, following previous filings which would include quarterly and annual reports.

Key Financial Figures

• $0.0000000341740141 — nge on which registered Common Shares, $0.0000000341740141 per share ROIV The Nasdaq Global Se

Filing Documents

• ef20015327_10q.htm (10-Q) — 2746KB
• ef20015327_ex31-1.htm (EX-31.1) — 15KB
• ef20015327_ex31-2.htm (EX-31.2) — 14KB
• ef20015327_ex32-1.htm (EX-32.1) — 6KB
• ef20015327_ex32-2.htm (EX-32.2) — 6KB
• 0001140361-24-007260.txt (&nbsp;) — 9787KB
• roiv-20231231.xsd (EX-101.SCH) — 76KB
• roiv-20231231_cal.xml (EX-101.CAL) — 73KB
• roiv-20231231_def.xml (EX-101.DEF) — 371KB
• roiv-20231231_lab.xml (EX-101.LAB) — 934KB
• roiv-20231231_pre.xml (EX-101.PRE) — 511KB
• ef20015327_10q_htm.xml (XML) — 1303KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 7 Condensed Consolidated Balance Sheets as of December 31, 2023 and March 31, 2023 7 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended December 31, 2023 and 2022 8 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended December 31, 2023 and 2022 9 Condensed Consolidated Statements of Shareholders' Equity and Redeemable Noncontrolling Interest for the Three and Nine Months Ended December 31, 2023 and 2022 10 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2023 and 2022 12 Notes to Condensed Consolidated Financial Statements 13 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 48

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 49 Item 1A.

Risk Factors

Risk Factors 49 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 108 Item 3. Defaults Upon Senior Securities 108 Item 4. Mine Safety Disclosures 108 Item 5. Other Information 109 Item 6. Exhibits 110

SIGNATURES

SIGNATURES 111 2 Table of Contents Where You Can Find More Information Investors and others should note that we may announce material business and financial information to our investors using our investor relations website (https://investor.roivant.com), filings we make with the Securities and Exchange Commission (the "SEC"), our corporate twitter account (@Roivant), other social media platforms, webcasts, press releases and conference calls. Similarly, our subsidiary Immunovant, Inc. may announce material business and financial information to its investors and others using its investor relations website (https://immunovant.com/investors), filings it makes with the SEC, social media platforms, webcasts, press releases and conference calls. We and our public company subsidiaries use these mediums to communicate with our and our public company subsidiaries' shareholders and the public about our company, our subsidiaries, our product candidates and other matters. It is possible that the information that we make available in this manner may be deemed to be material information. We therefore encourage investors and others interested in our company and our public company subsidiaries to review this information. The above-referenced information is not incorporated by reference into this filing and the website addresses and Twitter account name are provided only as inactive textual references. Summary

Risk Factors

Risk Factors You should consider carefully the risks described under "Risk Factors" in Part II, Item 1.A of this Quarterly Report on Form 10-Q. Unless the context otherwise requires, references in this section to "we," "us," "our," "Roivant" and the "Company" refer to Roivant Sciences Ltd. and its consolidated subsidiaries, as the context requires. A summary of the risks that could materially and adversely affect our business, financial condition, operating results and prospects include the following: Risks Related to Our Business and Industry Our limited operating history and the inherent uncertainties and risks involved in biopharmaceutical product development may make it difficult for us to execute on our business model and for you to assess our future viability. We have not generated significant revenue from our operations since inception, and there is no guarantee that we will do so in the future. We may never achieve sustained profitability. We have limited experience as a commercial company and the marketing and sale of VTAMA (tapinarof) or any future products may be unsuccessful or less successful than anticipated. We may not be successful in our efforts to acquire or in-license new product candidates. Our drug discovery efforts may not be successful in identifying new product candidates. We face risks associated with the allocation of capital and personnel across our businesses. We face risks associated with the Vant structure. We face risks associated with potential future payments related to our products and product candidates. Our business strategy and potential for future growth relies on a number of assumptions, some or all of which may not be realized. We may engage in strategic transactions that could impact our liquidity, increase our expenses and present significant distractions to our management. Our management has broad discretion in respect of use of our cash and cash equivalents, including the proceeds from the Roche Transaction. I

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited). ROIVANT SCIENCES LTD. Condensed Consolidated Balance Sheets (unaudited, in thousands, except share and per share amounts) December 31, 2023 March 31, 2023 Assets Current assets: Cash and cash equivalents $ 6,670,810 $ 1,676,813 Other current assets 135,923 121,774 Total current assets 6,806,733 1,798,587 Property and equipment, net 21,857 39,086 Operating lease right-of-use assets 46,898 53,251 Investments measured at fair value 239,927 304,317 Intangible assets, net 150,415 144,881 Other assets 46,849 49,482 Total assets $ 7,312,679 $ 2,389,604 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 35,226 $ 37,830 Accrued expenses 122,148 167,129 Operating lease liabilities 10,477 11,693 Current portion of long-term debt (includes $ 26,950 and $ 26,940 accounted for under the fair value option at December 31, 2023 and March 31, 2023 , respectively) 45,706 40,720 Other current liabilities 31,342 15,076 Total current liabilities 244,899 272,448 Liability instruments measured at fair value 28,374 63,546 Operating lease liabilities, noncurrent 47,059 53,476 Long-term debt, net of current portion (includes $ 194,560 and $ 180,700 accounted for under the fair value option at December 31 , 2023 and March 31, 2023 , respectively) 403,337 375,515 Other liabilities 4,428 17,032 Total liabilities 728,097 782,017 Commitments and contingencies (Note 11) Shareholders' equity: Common shares, par value $ 0.0000000341740141 per share, 7,000,000,000 shares authorized and 804,890,910 and 760,143,393 shares issued and outstanding at December 31 , 2023 and March 31, 2023 , respectively — — Additional paid-in capital 5,390,260 4,933,137 Retained earnings / (accumulated deficit) 727,287 ( 3,772,754 ) Accumulated other comprehensive loss ( 27,784 ) ( 2,617 ) Shareholders' equity attributable

View Full Filing

View this 10-Q filing on SEC EDGAR