Roivant Sciences (ROIV) Hits New All-Time High as Drug Candidate Clinical Trial Posts Impressive Results

We recently published All-Time Rush: 8 of 10 Big Names Hit Fresh Record Highs. Roivant Sciences Ltd. (NASDAQ:ROIV) is one of the best performers on Tuesday.

Roivant Sciences jumped to a new all-time high on Wednesday, as investors cheered impressive results from the third phase of its clinical trial for its drug treatment for an autoimmune disease.

At intra-day session, Roivant Sciences Ltd. (NASDAQ:ROIV) soared to as high as $16.05 before trimming gains to end the day just up by 7.76 percent at $15.28.

This followed positive results from the phase 3 clinical trial of drug candidate Brepocitinib for the treatment of dermatomyositis (DM), where it saw significant and constant developments in as early as week 4.

The clinical trial was in partnership with Priovant Therapeutics.

Roivant Sciences Ltd. (NASDAQ:ROIV) said Brepocitinib 30 mg achieved a total improvement score (TIS) of 46.5 as compared with the 31.2 for the placebo.

Additionally, the drug candidate demonstrated clinically meaningful improvement over placebo across all nine key secondary endpoints.

It said adverse events of special interest (AESIs), which included malignancy, cardiovascular events, and thromboembolic events, did not occur with higher frequency of taking the brepocitinib 30 mg.

Dermatomyositis (DM) is a multi-organ idiopathic inflammatory condition that affects approximately 50,000 adults in the United States. It is characterized by debilitating muscle weakness and skin lesions.

While we acknowledge the potential of ROIV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.