Biohaven Crashes After Protein-Degrading Drug Misses Expectations; Immunovant, Argenx Jump

Biohaven (BHVN) stock crashed Wednesday after the company's experimental protein-degrading drug — which could be used to treat a myriad of immune-related diseases — lagged investor expectations. X The company tested four doses of its drug, BHV-1300, which is meant to break down immunoglobulin G, or IgG, an autoantibody at the center of diseases like rheumatoid arthritis and myasthenia gravis. In healthy volunteers, the doses reduced IgG by up to 37%. Biohaven called the results "positive," noting that IgG l ...