Roivant Sciences Files 2024 10-K

TL;DR

Roivant Sciences filed its 2024 10-K. Full financials and biz details inside.

AI Summary

Roivant Sciences Ltd. filed its 2024 10-K report, detailing its fiscal year ending March 31, 2024. The company, operating in pharmaceutical preparations, is headquartered in Hamilton, Bermuda. The filing covers financial performance and business operations for the period, with specific financial data and operational details available within the document.

Why It Matters

This 10-K filing provides a comprehensive overview of Roivant Sciences' financial health and strategic direction for the fiscal year, offering insights into its performance and future prospects for investors and stakeholders.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Roivant Sciences faces inherent risks related to drug development, regulatory approvals, and market competition, which are detailed in its 10-K filing.

Key Numbers

• 2024-03-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-05-30 — Filing Date (The date the 10-K was officially submitted to the SEC.)
• 001-40782 — SEC File Number (The company's SEC registration number.)

Key Players & Entities

• Roivant Sciences Ltd. (company) — Filer of the 10-K report
• 2024-03-31 (date) — Fiscal year end date
• 2024-05-30 (date) — Filing date
• Hamilton HM11 (location) — Company's business address

FAQ

Key Financial Figures

• $0.0000000341740141 — ge on which registered Common Shares, $0.0000000341740141 per share ROIV The Nasdaq Global Se
• $11.68 — Global Market on September 29, 2023 of $11.68 per share. As of May 28, 2024 there we
• $300 million — nts due under these obligations by over $300 million in aggregate, of which an expected redu
• $225 million — an expected reduction of approximately $225 million would be achieved over the next three f

Filing Documents

• ef20026301_10k.htm (10-K) — 3726KB
• ef20026301_ex21-1.htm (EX-21.1) — 17KB
• ef20026301_ex23-1.htm (EX-23.1) — 6KB
• ef20026301_ex31-1.htm (EX-31.1) — 14KB
• ef20026301_ex31-2.htm (EX-31.2) — 14KB
• ef20026301_ex32-1.htm (EX-32.1) — 6KB
• ef20026301_ex32-2.htm (EX-32.2) — 6KB
• ef20026301_ex97.htm (EX-97) — 40KB
• image01.jpg (GRAPHIC) — 23KB
• image02.jpg (GRAPHIC) — 18KB
• image03.jpg (GRAPHIC) — 41KB
• image04.jpg (GRAPHIC) — 31KB
• image05.jpg (GRAPHIC) — 432KB
• image06.jpg (GRAPHIC) — 237KB
• image07.jpg (GRAPHIC) — 483KB
• 0001140361-24-028145.txt ( ) — 17666KB
• roiv-20240331.xsd (EX-101.SCH) — 106KB
• roiv-20240331_cal.xml (EX-101.CAL) — 111KB
• roiv-20240331_def.xml (EX-101.DEF) — 552KB
• roiv-20240331_lab.xml (EX-101.LAB) — 1372KB
• roiv-20240331_pre.xml (EX-101.PRE) — 780KB
• ef20026301_10k_htm.xml (XML) — 1966KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 52 Item 1B. Unresolved Staff Comments 116 Item 1C. Cybersecurity 116 Item 2.

Properties

Properties 116 Item 3.

Legal Proceedings

Legal Proceedings 117 Item 4. Mine Safety Disclosures 117 PART II . Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 118 Item 6. [Reserved] 119 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 119 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 134 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 135 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 173 Item 9A.

Controls and Procedures

Controls and Procedures 173 Item 9B. Other Information 174 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 175 Part III . Item 10. Directors, Executive Officers and Corporate Governance 176 Item 11.

Executive Compensation

Executive Compensation 176 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 176 Item 13. Certain Relationships and Related Transactions, and Director Independence 176 Item 14. Principal Accountant Fees and Services 176 Part IV . Item 15. Exhibits, Financial Statement Schedules 177 Item 16. Form 10-K Summary 182

Signatures

Signatures 183 i Table of Contents Summary Risk Factors You should consider carefully the risks described under "Risk Factors" in Part I, Item 1A of this Annual Report on Form 10-K. Unless the context otherwise requires, references in this section to "we," "us," "our," "Roivant" and the "Company" refer to Roivant Sciences Ltd. and its subsidiaries and affiliates, 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 and commercialization may make it difficult for us to execute on our business model and for you to assess our future viability. We have generated limited revenue from our operations since inception, and there is no guarantee that we will generate significant revenues in the future. We may never achieve sustained profitability. We have relatively limited experience as a commercial-stage company and the marketing and sale of VTAMA (tapinarof) or any future products may be unsuccessful or less successful than anticipated. Our business is dependent to a significant extent on the successful commercialization of VTAMA and the development, regulatory approval and commercialization of our current and future products and product candidates. We may not be successful in our efforts to acquire or in-license new product candidates, and newly acquired or in-licensed product candidates may not perform as expected in clinical trials or be successful in eventually achieving marketing approvals. 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 poten

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains statements, including matters discussed under Part I, Item 1A. "Risk Factors," Part I, Item 3. "Legal Proceedings" and Part II, Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations" and in other sections of this report, that are "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, and statements that are not historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this Annual Report on Form 10-K are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to risk associated with: our relatively limited experience as a commercial-stage company and ability to successfully commercialize VTAMA (tapinarof); our ability to acquire or

BUSINESS

BUSINESS References to "Roivant," the "Company," "we," "us" or "our" in the following section refer to Roivant Sciences Ltd. and its consolidated subsidiaries, unless the context otherwise requires. Overview Roivant is a commercial-stage biopharmaceutical company that aims to improve the lives of patients by accelerating the development and commercialization of medicines that matter. Today, Roivant's pipeline is concentrated in inflammation and immunology and includes VTAMA, a novel topical approved for the treatment of psoriasis and in development for the treatment of atopic dermatitis; IMVT-1402 and batoclimab, fully human monoclonal antibodies targeting the neonatal Fc receptor ("FcRn") in development across several IgG-mediated autoimmune indications; and brepocitinib, a potent small molecule inhibitor of TYK2 and JAK1 for the treatment of dermatomyositis and non-infectious uveitis, in addition to several other therapies in various stages of clinical development. We advance our pipeline by creating nimble subsidiaries or "Vants" to develop and commercialize our medicines and technologies. Beyond therapeutics, Roivant also incubates discovery-stage companies and health technology startups complementary to its biopharmaceutical business. The following table summarizes selected commercial and development-stage pipeline products and product candidates. Product/Product Candidate Indication Vant Modality Phase VTAMA (tapinarof) Psoriasis Dermavant Topical Commercial VTAMA (tapinarof) Atopic Dermatitis Dermavant Topical sNDA Filed Batoclimab Myasthenia Gravis Immunovant Biologic Phase 3* Batoclimab Thyroid Eye Disease Immunovant Biologic Phase 3* Batoclimab Chronic Inflammatory Demyelinating Polyneuropathy Immunovant Biologic Phase 2* Batoclimab Graves' Disease Immunovant Biologic Phase 2 IMVT-1402 Numerous Indications Immunovant Biologic Phase 1 Brepocitinib Dermatomyositis Priovant Small Molecule Phase 3* Brepocitinib

View Full Filing

View this 10-K filing on SEC EDGAR