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Biohaven (BHVN) Up on Positive Data from Autoimmune Disease Drug
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Biohaven Ltd. (BHVN - Free Report) , in an 8-K filing, announced promising data on pre-clinical candidate BHV-1300, which is being developed to treat various autoimmune diseases.
BHV-1300 is a novel immunoglobulin gamma (IgG) degrader. Data from the pre-clinical studyshowed more than 90% reductions in IgG levels after repeated doses. Following this development, shares of the company were up 33.3% on Sep 27.
The company is on track to submit the investigational new drug application for BHV-1300 by the end of 2023 and aims to initiate phase II studies in 2024.
In earlier confirmatory studies, BHV-1300 was evaluated in cynomolgus monkeys, that showed a 50% reduction in IgG levels after one day compared to baseline and a 75% reduction in IgG levels after two days of treatment with BHV-1300.
These findings suggest that BHV-1300may be a more effective and faster-acting treatment for autoimmune diseases compared to the standard therapy, Vyvgart (efgartigimod alfa). Vyvgartis the first neonatal Fc receptor antagonist (FcRn) approvedtreatment of generalised myasthenia gravis.
Shares of Biohaven have soared 69.6% year to date against the industry’s 15.9% decline.
Image Source: Zacks Investment Research
Currently, Biohaven has no marketed drugs in its portfolio and is dependent on its pipeline for growth. The company focuses on developing therapies for central nervous system disorders and autoimmune diseases.
Its lead candidate, troriluzole (BHV-4157) is currently in late-stage studies being developed for spinocerebellar ataxia (SCA) and obsessive-compulsive disorder. Earlier in June, Biohaven submitted a new drug application seeking approval for troriluzole to treat SCA, an ultra-rare neurodegenerative disease associated with progressive disability. Troriluzole has been granted the Fast Track and Orphan Drug designations by the FDA in the SCA indication.
In the past 90 days, the Zacks Consensus Estimate forAnika Therapeutics has narrowed from a loss of $1.41 per share to a loss of $1.24 for 2023. The bottom-line estimate has widened from a loss of 79 cents to a loss of 82 cents for 2024 during the same time frame. Shares of the company have lost 35.2% year to date.
ANIK’s earnings beat estimates in one of the trailing four quarters and missed the mark in the remaining three, delivering an average negative surprise of 32.12%.
In the past 90 days, the Zacks Consensus Estimate for Annovis Bio has narrowed from a loss of $4.89 per share to a loss of $4.38 for 2023. The bottom-line estimate has narrowed from a loss of $3.18 to a loss of $2.77 for 2024 during the same time frame. Shares of the company have lost 29.9% year to date.
ANVS’ earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 13.40%.
In the past 90 days, the Zacks Consensus Estimate for Corcept’s earnings has gone up from 62 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 61 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 59.3% year to date.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.
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Biohaven (BHVN) Up on Positive Data from Autoimmune Disease Drug
Biohaven Ltd. (BHVN - Free Report) , in an 8-K filing, announced promising data on pre-clinical candidate BHV-1300, which is being developed to treat various autoimmune diseases.
BHV-1300 is a novel immunoglobulin gamma (IgG) degrader. Data from the pre-clinical studyshowed more than 90% reductions in IgG levels after repeated doses. Following this development, shares of the company were up 33.3% on Sep 27.
The company is on track to submit the investigational new drug application for BHV-1300 by the end of 2023 and aims to initiate phase II studies in 2024.
In earlier confirmatory studies, BHV-1300 was evaluated in cynomolgus monkeys, that showed a 50% reduction in IgG levels after one day compared to baseline and a 75% reduction in IgG levels after two days of treatment with BHV-1300.
These findings suggest that BHV-1300may be a more effective and faster-acting treatment for autoimmune diseases compared to the standard therapy, Vyvgart (efgartigimod alfa). Vyvgartis the first neonatal Fc receptor antagonist (FcRn) approvedtreatment of generalised myasthenia gravis.
Shares of Biohaven have soared 69.6% year to date against the industry’s 15.9% decline.
Image Source: Zacks Investment Research
Currently, Biohaven has no marketed drugs in its portfolio and is dependent on its pipeline for growth. The company focuses on developing therapies for central nervous system disorders and autoimmune diseases.
Its lead candidate, troriluzole (BHV-4157) is currently in late-stage studies being developed for spinocerebellar ataxia (SCA) and obsessive-compulsive disorder. Earlier in June, Biohaven submitted a new drug application seeking approval for troriluzole to treat SCA, an ultra-rare neurodegenerative disease associated with progressive disability. Troriluzole has been granted the Fast Track and Orphan Drug designations by the FDA in the SCA indication.
Biohaven Ltd. Price and Consensus
Biohaven Ltd. price-consensus-chart | Biohaven Ltd. Quote
Zacks Rank & Stocks to Consider
Biohaven currently carries a Zacks Rank #3 (Buy).
Some better-ranked stocks in the same industry are Anika Therapeutics (ANIK - Free Report) , Annovis Bio (ANVS - Free Report) and Corcept Therapeutics (CORT - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate forAnika Therapeutics has narrowed from a loss of $1.41 per share to a loss of $1.24 for 2023. The bottom-line estimate has widened from a loss of 79 cents to a loss of 82 cents for 2024 during the same time frame. Shares of the company have lost 35.2% year to date.
ANIK’s earnings beat estimates in one of the trailing four quarters and missed the mark in the remaining three, delivering an average negative surprise of 32.12%.
In the past 90 days, the Zacks Consensus Estimate for Annovis Bio has narrowed from a loss of $4.89 per share to a loss of $4.38 for 2023. The bottom-line estimate has narrowed from a loss of $3.18 to a loss of $2.77 for 2024 during the same time frame. Shares of the company have lost 29.9% year to date.
ANVS’ earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 13.40%.
In the past 90 days, the Zacks Consensus Estimate for Corcept’s earnings has gone up from 62 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 61 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 59.3% year to date.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.