Biohaven reports second quarter 2024 financial results and recent business developments

Cash, cash equivalents, marketable securities and restricted cash totaled approximately $440 million on june 30, 2024 biohaven's molecular degrader of extracellular proteins (mode™) platform advancing multiple new targets and reported positive interim data from its lead investigational drug in an ongoing phase 1 study of bhv-1300: the company reported dose-dependent and rapid igg reductions in its ongoing phase 1 trial with its lead investigational degrader bhv-1300 no serious adverse events (saes) reported with bhv-1300 to date; most adverse events (aes) were mild, deemed unrelated to study drug and resolved spontaneously phase 1 study also completed an assessment of an optimized subcutaneous (sc) formulation of bhv-1300 that demonstrated approximately a 44% higher than expected exposure compared to the dose-equivalent intravenous formulation previously studied; this new human data further confirms feasibility of convenient self-administered sc auto-injector and the sc formulation was not associated with injection site reactions degrader platform expected to deliver 3 inds for new mode programs before year-end in addition to continued data from sad/mad with bhv-1300 biohaven's beta-1 adrenergic receptor (Β1ar) autoantibody targeting mode, bhv-1600, granted interact meeting with fda in 2h 2024 regarding development program for dilated cardiomyopathy advancing novel ion channel program targeting kv7 activation and trpm3 antagonism across multiple neurological, pain and neuropsychiatric disease indications: 5 phase 2/3 trials with bhv-7000 underway in epilepsy and mood disorders released positive phase 1 data with trpm3 antagonist bhv-2100 showing drug concentrations above ec90 target and well-tolerated profile across all doses in sad/mad study; advancing phase 2 study in acute migraine and proof-of-concept (poc) study in pain in 2h 2024 taldefgrobep alfa, a myostatin-inhibitor, progressing on track with phase 3 topline data in spinal muscular atrophy (sma) and phase 2 trial initiation in obesity expected in 2h 2024 taldefgrobep alfa has demonstrated direct effects on reducing adipose tissue (including lipid storage and mitochondrial content) independent of increases in muscle mass in a mad study, conducted in healthy adults, taldefgrobep alfa (45 mg sc qw) produced significant reductions in total body fat while increasing total body lean mass preclinical data released at the 2024 american diabetes association conference demonstrated that taldefgrobep alfa, as a monotherapy or in combination with a glp-1 agonist, demonstrated significant reductions in fat and total body weight. taldefgrobep alfa-treated animals showed significant increases in lean muscle, despite co-administration with a glp-1 receptor agonist tyrosine kinase 2/janus kinase 1 (tyk2/jak1) selective inhibitor, bhv-8000, completed phase 1 and confirmed biomarker target engagement with reductions in inflammatory markers and demonstrated central nervous system penetration with confirmed cerebrospinal fluid (csf) target exposures in healthy subjects advancing registrational programs for parkinson's disease and prevention of amyloid-related imaging abnormalities (aria) following interactions with the fda expect interim data analysis from second ongoing phase 3 ocd trial with troriluzole in 2h 2024; topline data from first phase 3 ocd trial expected in 1h 2025 sca interactions with troriluzole filing in europe ongoing and constructive interactions in the us with the fda new real-world evidence (rwe) protocol, incorporating feedback from the fda, assessing 3-years of treatment with troriluzole expected to deliver topline results in 2h 2024 biohaven antibody drug conjugate (adc) portfolio positioned to deliver differentiated profiles and address unmet needs in oncology: bhv-1510 currently dosing cancer patients in phase1/2 study and now advancing towards combination with libtayo® by 4q 2024 portfolio of multiple advanced nonclinical bhvn adcs demonstrate improved plasma stability and in vitro/in vivo differentiation new haven, conn.
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