U.S. Bio Executives Realize Hundreds of Billions in Profits... Stock Option Exercises Followed by Successive Stock Sales

Roivant Sciences Ltd. (NASDAQ: ROIV) filed that two of its executives—Eric Benker, President and CEO of Immunovant, and Mayuk Sukatme, President and CIO—exercised a large block of stock options between June 24 and 26 and immediately sold an equal number of common shares on the open market, realizing gains of tens of millions of dollars (hundreds of billions of Korean won).

Eric Benker exercised 200,000 options at $3.85 per share and sold the same number of shares at just under $33 each, netting a spread of approximately $5.8 million (KRW 9 billion). His direct holdings fell from about 1.8 million shares to the low‐1.6 million range, though he continues to maintain economic exposure through 200,000 options expiring in 2032.

Mayuk Sukatme exercised 1 million options over two days at the same strike price, then sold 500,000 shares each day—totaling 1 million—at an average price of around $34, realizing roughly $30 million (KRW 40 billion) in gains. After these transactions, he still holds approximately 18 million common shares and options on more than 14 million underlying shares.

In its May 20 release of fourth‐quarter fiscal 2026 results, Roivant reported earnings per share of $0.28, defying market expectations for a loss. The results were bolstered by about $770 million in gains from its settlement with Moderna, turning a year‐ago net loss into net income exceeding $300 million. The company said that of the $2.25 billion settlement, approximately $950 million will be received as a lump sum in July. It also noted that brepocitinib, co‐developed with a subsidiary, received FDA Breakthrough Therapy designation for cutaneous sarcoidosis, securing a favorable regulatory status for a key pipeline asset.

Founded in 2014 by Vivek Ramaswami in London, Roivant is a clinical‐stage biopharmaceutical and healthcare technology company that establishes “Vant” subsidiaries to develop drugs across therapeutic areas—including immunology, pulmonology, ophthalmology, and dermatology. Its pipeline in autoimmune and inflammatory diseases comprises candidates such as IMVT-1402, Musrisiguat, batoclimab, and brepocitinib. Through its Nasdaq-listed subsidiary Immunovant and other affiliates, Roivant is expanding its footprint in the U.S. biotech market.