Roivant Sciences Files Q2 2024 10-Q

TL;DR

Roivant's Q2 10-Q is in, check financials for latest performance.

AI Summary

Roivant Sciences Ltd. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the second quarter and the first half of its fiscal year. Specific financial figures and operational details are provided within the filing, which covers the period from July 1, 2024, to September 30, 2024, and the six months ended September 30, 2024.

Why It Matters

This filing provides investors with an update on Roivant Sciences' financial performance and operational status for the second quarter of fiscal year 2024, crucial for understanding the company's trajectory.

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 SEC filings.

Key Numbers

• Q2 2024 — Fiscal Quarter (Reporting period for the 10-Q)
• 2024-09-30 — Period End Date (The end date of the financial reporting period)
• 2024-11-12 — Filing Date (The date the 10-Q was submitted to the SEC)

Key Players & Entities

• Roivant Sciences Ltd. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-12 (date) — Filing date
• 0001140361-24-046019 (other) — Accession number for the filing

FAQ

Key Financial Figures

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

Filing Documents

• ef20034554_10q.htm (10-Q) — 2656KB
• ef20034554_ex10-45.htm (EX-10.45) — 315KB
• ef20034554_ex10-46.htm (EX-10.46) — 15KB
• ef20034554_ex31-1.htm (EX-31.1) — 15KB
• ef20034554_ex31-2.htm (EX-31.2) — 15KB
• ef20034554_ex32-1.htm (EX-32.1) — 6KB
• ef20034554_ex32-2.htm (EX-32.2) — 6KB
• 0001140361-24-046019.txt ( ) — 10357KB
• roiv-20240930.xsd (EX-101.SCH) — 74KB
• roiv-20240930_cal.xml (EX-101.CAL) — 87KB
• roiv-20240930_def.xml (EX-101.DEF) — 358KB
• roiv-20240930_lab.xml (EX-101.LAB) — 919KB
• roiv-20240930_pre.xml (EX-101.PRE) — 522KB
• ef20034554_10q_htm.xml (XML) — 1425KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets as of September 30, 2024 and March 31, 2024 5 Condensed Consolidated Statements of Operations for the Three and Six Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Shareholders' Equity for the Three and Six Months Ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Cash Flows for the Six Months Ended September 30, 2024 and 2023 10 Notes to Condensed Consolidated Financial Statements 11 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 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 45

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 46 Item 1A.

Risk Factors

Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 102 Item 3. Defaults Upon Senior Securities 102 Item 4. Mine Safety Disclosures 102 Item 5. Other Information 102 Item 6. Exhibits 103

SIGNATURES

SIGNATURES 104 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 account on the social media platform X (formerly Twitter) (@Roivant), other social media platforms, webcasts, press releases and conference calls. Similarly, Immunovant, Inc., as well as our other subsidiaries, 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 subsidiaries use these mediums to communicate with our and our 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 subsidiaries to review this information. The above-referenced information is not incorporated by reference into this filing and the website addresses and X account name are provided only as inactive textual references. Summary Risk Factors You should consider carefully the risks described under "Risk Factors" in Part II, Item 1A. 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 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 Indust

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q contains statements, including matters discussed under Part I, Item 2. "Management's Discussion and Analysis of Financial Condition and Results of Operations," Part II, Item 1. "Legal Proceedings," Part II, Item 1A. "Risk Factors" 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 Quarterly Report on Form 10-Q 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 operating history and the inherent uncertainties and risks involved in biopharmaceutical product development and commercializ

—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) September 30, 2024 March 31, 2024 Assets Current assets: Cash and cash equivalents $ 1,958,633 $ 6,494,953 Marketable securities 3,428,021 — Other current assets 94,226 80,605 Current assets of discontinued operations (Note 6) 320,239 156,270 Total current assets 5,801,119 6,731,828 Property and equipment, net 13,674 15,322 Operating lease right-of-use assets 42,977 44,002 Investments measured at fair value 311,354 247,753 Other assets 36,904 37,701 Noncurrent assets of discontinued operations (Note 6) — 145,876 Total assets $ 6,206,028 $ 7,222,482 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 25,127 $ 14,029 Accrued expenses 111,469 119,417 Operating lease liabilities 9,519 8,966 Other current liabilities 8,921 13,941 Current liabilities of discontinued operations (Note 6) 401,213 110,405 Total current liabilities 556,249 266,758 Liability instruments measured at fair value 26,252 25,737 Operating lease liabilities, noncurrent 43,190 45,020 Other liabilities 295 2,493 Noncurrent liabilities of discontinued operations (Note 6) — 433,945 Total liabilities 625,986 773,953 Commitments and contingencies (Note 11) Shareholders' equity: Common shares, par value $ 0.0000000341740141 per share, 7,000,000,000 shares authorized and 733,328,375 and 806,677,954 shares issued and outstanding at September 30 , 2024 and March 31, 2024 , respectively — — Additional paid-in capital 4,775,411 5,396,492 Retained earnings 395,580 576,172 Accumulated other comprehensive loss ( 18,036 ) ( 4,083 ) Shareholders' equity attributable to Roivant Sciences Ltd. 5,152,955 5,968,581 Noncontrolling interests 427,087 479,948 Total shareholders' equity

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View this 10-Q filing on SEC EDGAR