** Shares of Roivant Sciences ROIV.O fall 2.2% to $12.20 before the bell

** Co says its experimental lung disease drug, namilumab, did not meet the main and secondary goals in a mid-stage study

** Co was testing namilumab in patients with chronic active pulmonary sarcoidosis, a condition in which lumps of inflammatory cells form in the lungs

** Adds that it will stop further development of the drug to treat sarcoidosis

** As of last close, ROIV up 11% YTD

(Reporting by Bhanvi Satija in Bengaluru)

((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))