What's Going On With Biohaven Stock Wednesday?
Biohaven Ltd. (NYSE:BHVN) stock is moving lower Wednesday. The company recently presented several updates in different fields such as immunology and oncology at its Annual Investor Research and Development Day.
The Details: The company announced it dosed a patient with a new possible treatment for certain cancers, showcased positive data from two different studies and presented other updates.
Biohaven started the first patient’s treatment in a Phase 1/2 trial for BHV-1510 which includes subjects with select advanced or metastatic epithelial cell tumors.
In addition, Biohaven has entered into a agreement with Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) where Biohaven will finance the planned clinical trial and Regeneron will provide Libtayo allowing the companies to explore the combination of BHV-150 and Libtayo.
“We are extremely proud to advance our first oncology clinical program with a potentially best in class ADC [Antibody Drug Conjugate],” said Nushmia Khokhar, M.D., chief medical officer of oncology at Biohaven.
“With the initiation of this monotherapy study, we are one step closer to providing differentiated and superior treatment options to people living with cancer. We are also excited to work with Regeneron and efficiently explore BHV-1510 in combination with its PD-1 inhibitor Libtayo® across a range of tumors.”
Biohaven released positive Phase 1 data regarding BHV-8000 including positive regulatory input, allowing the start of programs aiming to prevent amyloid-related imaging abnormalities associated with certain medications and Parkinson’s disease.
Biohaven started five new clinical trials with BHV-7000 which is aimed at targeting two types of epilepsy, bipolar disorder, and major depressive disorder.
Also, the company reported positive interim data from its ongoing Phase 1 study of BHV-1300 focused on investigating a new drug. Biohaven anticipates to have Myostatin program data for Phase 3 spinal muscular atrophy in the second half of 2024.
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BHVN Price Action: Biohaven shares are trading 18.9% lower at $30.75 at the time of publication, per data from Benzinga Pro.
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