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NEW HAVEN, Conn. - Biohaven Ltd. (NYSE: BHVN), a clinical-stage biopharmaceutical company currently valued at $1.57 billion, reported positive preliminary results from its Phase 1 oncology trial involving its antibody drug conjugate (ADC) BHV-1510, both as a standalone treatment and in combination with Regeneron’s anti-PD-1 antibody, cemiplimab. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 2.33, though it faces significant cash burn challenges typical of clinical-stage biotech firms. In the initial phase of the trial, all six patients treated with the combination therapy experienced tumor shrinkage, with some showing confirmed partial responses.
The early clinical data suggests that BHV-1510, which targets the Trop2 antigen, may offer a new treatment option for patients with advanced cancers who have not responded to standard therapies. The ADC has shown a favorable safety profile, with low levels of free payload and manageable side effects such as stomatitis, without any cases of interstitial lung disease. With analysts setting price targets ranging from $21 to $75, the market appears optimistic about Biohaven’s potential, despite the company’s current trading near its 52-week low of $14.69.
Nushmia Khokhar, M.D., Chief Medical Officer of Oncology at Biohaven, expressed optimism about the potential for BHV-1510 to be used in earlier lines of therapy for challenging tumors, citing the observed synergy with anti-PD-1 therapy.
Additionally, Biohaven announced the first patient dosing in a Phase 1 study of another of its ADCs, BHV-1530, which targets FGFR3, a protein associated with several types of cancer including urothelial cancers. BHV-1530 is the first ADC of its kind to enter clinical trials.
The company is also progressing with preclinical programs through collaborations with Merus and GeneQuantum, aiming to develop a range of optimized ADCs for cancer treatment. These programs leverage Biohaven’s proprietary TopoIx payload, which has demonstrated preclinical efficacy and immunogenic cell death.
Brian Lestini, M.D., Ph.D., President of Oncology at Biohaven, highlighted the versatility of the company’s ADC platform and its potential to address a variety of unmet needs in oncology.
This news is based on a press release statement from Biohaven and showcases the company’s commitment to expanding its oncology portfolio with innovative and potentially life-changing therapies. InvestingPro analysis indicates the stock is currently slightly undervalued, with 13 additional ProTips available to subscribers, including detailed insights into the company’s financial health and growth prospects. For comprehensive analysis of Biohaven and 1,400+ other US stocks, access the full Pro Research Report on the InvestingPro platform.
In other recent news, Biohaven Pharmaceutical Holding Company released its first-quarter earnings report for 2025, prompting RBC Capital Markets to adjust its outlook on the company by lowering the price target from $61 to $54, while maintaining an Outperform rating. Despite the price target reduction, RBC Capital remains optimistic about Biohaven’s potential, citing upcoming phase III trial results and regulatory decisions as potential catalysts. Biohaven has also secured an investment agreement with Oberland Capital Management for up to $600 million to support clinical trials and potential commercialization efforts for troriluzole, a treatment candidate for spinocerebellar ataxia. This agreement includes an initial funding of $250 million and additional funds contingent on regulatory milestones.
At the 2025 Annual Meeting of Shareholders, Biohaven re-elected directors Vlad Coric, M.D., and Kishan Mehta and ratified Ernst & Young LLP as the independent auditors. The meeting results were filed with the SEC, reflecting Biohaven’s commitment to corporate governance. Meanwhile, Piper Sandler maintained an Overweight rating for Biohaven, highlighting the potential of its diverse pipeline, including the promising IgG degrader platform and troriluzole’s path to approval. Despite the recent failure of a Phase 3 trial for another compound, Piper Sandler remains optimistic about Biohaven’s focus on neurology and central nervous system disorders.
Bernstein analysts have expressed concerns about the impact of FDA job cuts on drug approval processes, suggesting that mature biotech companies like Biohaven might be more resilient. However, they noted that Biohaven’s upcoming PDUFA date for spinocerebellar ataxia presents some regulatory uncertainty. Overall, these developments showcase Biohaven’s strategic efforts in advancing its pipeline and securing financial backing to support its growth initiatives.
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