Biohaven Stock Stumbles As Protein-Degrading Drug Falls Short Of Expectations In Early-Stage Study
Portfolio Pulse from Vandana Singh
Biohaven Ltd's (NYSE:BHVN) shares dropped significantly after interim data from a Phase 1 study of their investigational drug BHV-1300 fell short of investor expectations. The drug showed a 30% and 37% reduction in Immunoglobulin G (IgG) in the 3rd and 4th cohorts, respectively, which was below the anticipated 60% reduction. Comparatively, Immunovant Inc's (NASDAQ:IMVT) IMVT-1402 showed better results, and Argenx Inc's (NASDAQ:ARGX) Vyvgart demonstrated a 50% reduction in IgG within five to seven days.
May 29, 2024 | 6:47 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Biohaven Ltd's shares fell 15.6% after interim data from the Phase 1 study of BHV-1300 did not meet investor expectations. The drug showed a 30% and 37% reduction in IgG in the 3rd and 4th cohorts, respectively, which was below the anticipated 60% reduction.
The significant drop in share price is directly linked to the disappointing interim data from the Phase 1 study of BHV-1300, which did not meet the high expectations set by investors.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Argenx Inc's Vyvgart (efgartigimod) showed a 50% reduction in IgG within five to seven days, which is comparable to Biohaven's BHV-1300's performance but achieved in a slightly longer timeframe.
Argenx's Vyvgart demonstrated comparable results to Biohaven's BHV-1300 but over a longer period. This may have a neutral impact on its stock as the results are not significantly better or worse.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Immunovant Inc's clinical results for IMVT-1402 showed better performance compared to Biohaven's BHV-1300, with 45% IgG depletion in a single ascending dose study and 63% in a multiple ascending dose study.
Immunovant's IMVT-1402 demonstrated better IgG depletion results compared to Biohaven's BHV-1300, which could positively impact its stock as investors may view it as a more promising candidate.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50