Roivant Sciences Ltd at Guggenheim Global Healthcare Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : <_ALACRA_META_ABSTRACT>So to start, why don't you give us an overview of the company and tell us what are the upcoming milestones that we should be interesting and focusing on?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : And that's actually -- why don't we start from there because that was an interesting deal. And we would like to get your opinion about what went into the decision of selling VTAMA and how are you considering the opportunity overall. Because we considered the upfront payment seems a little bit lower than our expectations. So how are you thinking about the royalties coming up and the overall opportunity?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Yes, got it. And since they are taking over the -- for the development of the drug, what's your expectation in terms of cost savings?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Thank you for all those details. And just curious, was it the competitive bidding, can you give us any color on that?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Okay. So as you rightfully pointed out, you have a very strong balance sheet. And that is a conversation we have with investors all the time, how are you considering like deploying this cash. So previously, you have disclosed that ideally, you are thinking about 1:1:1 between internal R&D allocation and external licensing and buyback, cash buyback. Are you still thinking in that direction? Or have you revised your view?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Got it. So we'll go back later into Immunovant and the other programs and dig more into that. But I would just get more color, if possible, on the possible areas where you're thinking of expanding. Like do you have any preferential type of area or assets that you're looking for and any budget indication?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Yes, that makes a lot of sense. And looking specifically at [Purmovant]. So as you mentioned, the Phase 1b data were very promising. But can you contextualize them in relationship to the competitive landscape? Especially because you are -- so the Phase 1 was in PAH, but then you are thinking of moving into PH for further development. So if you can clarify what's the strategy behind and your view about the commercial opportunity, that would be helpful.

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Got it. And how translatable are the data in PH to PH-ILD?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : And do you expect to see any differentiation? Like, can you get even higher efficacy than Tyvaso based on the profile of the drug?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Okay. And moving on to Immunovant. As you were saying, a lot of exciting news. Recently, they got the five IND approved for cleared for potential five registrational programs, and they disclosed IRA as first indication. But we just spoke with Pete and he was saying that was our fourth disclosing indication, not necessarily the ones we are prioritizing. So I am curious to hear from you, like what's the Roivant perspective, what's your view on that?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : In terms of prioritization between different indication, different programs for 1402?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : And for Graves, you showed a very robust data from the Phase 2, but it seems like there is a disconnect from -- with investors in terms of commercial opportunity. So it's like an undervalued opportunity in your view? And why -- where is the disconnect there? Why is it underappreciated?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Because of the large amount of data.

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : And if you can disclose it, what's your internal bar for proceeding, let's say, with batoclimab in indication like MG and CIDP or switching to 1402 for those indications. And by a regulatory perspective, how are you thinking about the transition? What will be the time lines there? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 11, 2024 / 9:00PM, ROIV.OQ - Roivant Sciences Ltd at Guggenheim Global Healthcare Conference

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : And what are your expectations in terms of commercial positioning for rheumatoid arthritis that was recently announced?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Got it. And how robust is the evidence that higher IgG suppression would lead to stronger efficacy? And if there is an indication in this specific subtype of patients?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Makes sense. And moving to brepo now. So you are -- you have completed enrollment in dermatomyositis. And I think you have guided for data for the second half of next year. So is that still your guidance, first of all? And like tofacitinib as highly as the risk, I would say, this indication. So is there any possibility for brepo to show even higher efficacy than what tofacitinib has shown before? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 11, 2024 / 9:00PM, ROIV.OQ - Roivant Sciences Ltd at Guggenheim Global Healthcare Conference

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Got it. IVIg are approved in this indication, right? So how are you thinking about positioning?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Got it. And for the study design, how is it powered? Have you disclosed that?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Okay. And what have you guided for NIU for the readout?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Okay. And switching to namilumab as additional program. So you are expecting to read out this quarter, the sarcoidosis data. So it's a very risky indication and what are the internal expectation for that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 11, 2024 / 9:00PM, ROIV.OQ - Roivant Sciences Ltd at Guggenheim Global Healthcare Conference

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Can you remind us the scientific rationale there?

Question: Delma Caiati - Guggenheim Securities LLC - Analyst : Okay. Thank you. That's helpful. I think we are out of time. So I appreciate it. Thank you so much for being here.