April 2 (Reuters) – Immunovant said on Thursday that its therapy to treat a type of eye disease failed to meet the main goals in two late-stage studies.
Shares of the company were down 12% in premarket trading.
The studies were testing its experimental drug batoclimab in patients with moderate-to-severe thyroid eye disease, an autoimmune disorder that can cause dry eyes, eye irritation and in severe cases, double vision or vision loss.
The company said it intends to review future plans for the development of batoclimab with its partner HanAll Biopharma and provide an update on the program at a future date.
(Reporting by Sneha S K; Editing by Nivedita Bhattacharjee)
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