Roivant Sciences Ltd. (ROIV) stock is soaring 5.13% in intraday trading, outperforming the broader market's positive trend. The biotechnology company's shares are gaining momentum following the release of its fourth-quarter financial results and updates on its clinical trials.

Roivant reported a narrower-than-expected loss for the quarter ended March 31, 2025. The company posted a net loss of $0.29 per share, beating analysts' expectations of a $0.31 loss. However, revenue fell short of estimates, coming in at $7.57 million compared to the expected $54.07 million. Despite the revenue miss, investors seem to be focusing on the company's ability to control costs and narrow its losses.

Adding to the positive sentiment, Roivant announced that its Valor Phase 3 study evaluating brepocitinib in patients with dermatomyositis is now fully enrolled. This milestone in the clinical development of brepocitinib, a potential treatment for autoimmune diseases, signals progress in the company's pipeline. The broader market optimism, with the NASDAQ Composite Index and Dow Jones Industrial Average both rising, may also be contributing to Roivant's stock performance today.