Immunovant has decided to discontinue Imeroprubart, also known as IMVT-1402, for cutaneous lupus erythematosus after a 57-person clinical trial failed to show a statistically significant difference from placebo in the Week 12 change in CLASI-A scores. Numerical improvements appeared across several measures, and patients with greater IgG reductions tended to show better clinical responses. Immunovant cited market competition alongside the trial results and will continue developing Imeroprubart for Graves’ disease, refractory rheumatoid arthritis, myasthenia gravis, chronic inflammatory demyelinating polyneuropathy and Sjögren’s syndrome. Immunovant is a global partner of HanAll BioPharma, a Daewoong Pharmaceutical Group subsidiary. Immunovant shares fell 6.11% to $35.01 and Roivant Sciences shares dropped 2.93% to $37.10 in Wednesday premarket trading, according to Benzinga Pro data.