IMVT - Biohaven Stock Stumbles As Protein-Degrading Drug Falls Short Of Expectations In Early-Stage Study | Benzinga
Biohaven Ltd’s (NYSE:BHVN) shares are trading lower on Wednesday. The company reported new interim data from the ongoing Phase 1 study of BHV-1300, Biohaven’s lead investigational drug, from its Molecular Degrader of Extracellular Proteins (MoDE) platform.
Shares plunged as the data fell short of investor expectations.
The drug demonstrated a 30% reduction of Immunoglobulin G (IgG), a type of blood protein, in the 3rd and a 37% reduction in the 4th cohorts within 96 hours.
William Blair analyst, writes, “While this is below the high bar for 60% IgG lowering we had heard as a single-dose bogey from many investors, the results for each cohort are in line with the ...