Roivant Sciences Ltd.
said Wednesday it had a net loss of $33.6 million, or 20 cents a share, for its fiscal fourth quarter to March 31, narrower than the loss of $270.1 million, o4 39 cent a share, in the year-earlier period. Revenue came to $27.4 million, up from $9.2 million a year ago. The FactSet consensus was for a loss of 36 cents and revenue of $18.2 million. The company, which is development treatments in the immunology, oncology, hematology, and dermatology areas, had about $1.7 billion in cash and cash equivalents as of quarter end. R&D costs fell by $3.2 million to $131.9 million for the quarter. The stock rose 3.7% premarket.