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February 16 , 2021 IMMUNOVANT® Immunovant Reports Financial Results for the Quarter and Nine Months Ended December 31 , 2020 Company Ended the Quarter With Cash of Approximately $ 422 Million NEW YORK , Feb. 16 , 2021 ( GLOBE NEWSWIRE ) -- Immunovant , Inc. ( Nasdaq : IMVT ) , a clinical - stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases , today reported financial results for its fiscal third quarter and nine months ended December 31 , 2020. Immunovant ended the quarter with approximately $ 422 million in cash . In February 2021 , we voluntarily paused dosing in our clinical trials for IMVT - 1401 due to elevated total cholesterol and LDL levels observed in patients treated with IMVT - 1401 . We have informed our regulators and investigators of this voluntary pause of dosing in ASCEND GO - 2 , a Phase 2b trial in Thyroid Eye Disease and ASCEND - WAIHA , a Phase 2 trial in Warm Autoimmune Hemolytic Anemia . In order to better characterize the observed lipid findings , we have begun to conduct a program - wide data review with input from external scientific experts . Our unblinded analysis of the data from ASCEND GO - 2 trial remains ongoing . The full set of data is now being collected , quality - controlled and consolidated . In the open label ASCEND - WAIHA trial , we also plan to conduct an interim data review from participants in Cohort 1 ( 680 mg weekly ) after similarly consolidating and quality - controlling the data . We expect to continue development of IMVT - 1401 and plan to progress discussions with regulatory authorities to align on the next steps in its continued development . We expect to provide a further update on our current and future indications and timelines in the second quarter of calendar year 2021 . Financial Highlights for Fiscal Third Quarter Ended December 31 , 2020 R & D Expenses : Research and development expenses increased by $ 16.1 million , from $ 5.0 million for the three months ended December 31 , 2019 to $ 21.1 million for the three months ended December 31 , 2020. This year - over - year increase was primarily due to an $ 8.9 million increase in contract manufacturing costs driven by the expansion of our clinical trial programs for the treatment of autoimmune disease , and $ 1.4 million and $ 0.9 million increases in costs related to clinical studies and clinical research , respectively , due to expansion of clinical trials . G & A Expenses : General and administrative expenses increased by $ 4.4 million , from $ 6.1 million for the three months ended December 31 , 2019 to $ 10.5 million for the three months ended December 31 , 2020. The year - over - year increase was primarily due to personnel- related costs ( including stock - based compensation expense ) resulting from higher headcount .