Immunovant, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

Stock-Based Compensation (Tables)

9 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

A summary of the stock option activity under the Company’s equity incentive plans is as follows:


	Options Outstanding
	Number of options			Weighted- Average Exercise Price		Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands)
Balance – March 31, 2019		189,269		$	4.12		9.64	$	707
Granted		4,590,731		$	8.04
Cancelled		(570,427	)	$	7.13

Balance – December 31, 2019		4,209,573		$	7.86		9.50	$	33,177

Exercisable – December 31, 2019		169,275		$	6.93		7.40	$	1,514

Schedule of fair value assumptions

The Company estimated the fair value of each option on the date of grant using the Black-Scholes option pricing model applying the weighted-average assumptions in the following table:


	Three Months Ended December 31,						Nine Months Ended December 31,
	2019			2018			2019			2018
Risk-free interest rate		1.61% – 1.78	%		2.97	%		1.61% – 2.25	%		2.97	%
Expected term, in years		5.97 – 6.11			6.04			5.75 – 6.11			6.04
Expected volatility		75.55% – 76.01	%		74.79	%		74.69% – 76.01	%		74.79	%
Expected dividend yield		—	%		—	%		—	%		—	%

Summary of stock-based compensation expense

For the three and nine months ended December 31, 2019 and 2018, stock-based compensation expense under the Company’s equity incentive plans was as follows (in thousands):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2019		2018		2019		2018
Research and development expenses	$	311	$	10	$	2,680	$	11
General and administrative expenses		1,021		2		2,308		2

Total stock-based compensation	$	1,332	$	12	$	4,988	$	13