Immunovant stock loses half its value after pausing dosing in trial of thyroid eye disease treatment

Shares of Immunovant Inc. IMVT, -37.62% plunged 49.8% to pace all premarket losers Tuesday, after the biopharmaceutical company said it has paused dosing in its phase 2b trial for IMVT-1401, a treatment for thyroid eye disease (TED).