Roivant Sciences shares surge 20.01% intraday after exceptional Phase 2 results for brepocitinib in cutaneous sarcoidosis.

Roivant Sciences surged 20.01% intraday after announcing "exceptional" Phase 2 results for brepocitinib in treating cutaneous sarcoidosis, with patients showing a 22.3-point improvement in disease activity. The trial demonstrated statistically significant efficacy and strong safety data, positioning brepocitinib as a potential first-in-class therapy for the condition. Despite a Q3 earnings miss—reporting a $0.38 loss per share and $1.99M revenue shortfall—investors focused on the drug’s promising pipeline and $4.5B cash reserves. Pre-market trading had already shown a 14.52% surge, reflecting confidence in the compound’s potential and the company’s strategic focus on orphan inflammatory diseases. The stock’s intraday rally aligned with positive sentiment from the clinical data, overshadowing short-term financial underperformance.