Biohaven (BHVN) 44th Annual J.P. Morgan Healthcare Conference presentation summary

Novel degrader platform and clinical progress

• MODE and TRAP degraders selectively target and remove disease-driving proteins, preserving healthy immune function.

• First and only extracellular degraders in the clinic, validated as safe and well-tolerated with patient-friendly autoinjector administration.

• Positioned to initiate pivotal trials in 2026 for IgA nephropathy (BHV-1400) and Graves' disease (BHV-1300).

• Platform is scalable to multiple targets with strong intellectual property protection.

BHV-1400 for IgA nephropathy (IgAN)

• Rapid, selective, and deep removal of pathogenic Gd-IgA1 demonstrated in clinical studies, with significant reductions within hours of dosing.

• Early and advanced disease patients showed rapid resolution of hematuria, proteinuria, and improved eGFR within weeks.

• Outperforms B-cell therapies in speed, depth, and selectivity, sparing healthy IgA and reducing infection risk.

• KDIGO 2025 guidelines now recommend targeting Gd-IgA1 as first-line therapy, expanding the addressable patient population.

• US IgAN market opportunity estimated at $20B+ with 85K–151K eligible patients.

BHV-1300 for Graves' disease

• Targets and removes pathogenic IgG autoantibodies, addressing the root cause of Graves' and preventing multi-organ complications.

• Achieved >80% mean IgG reduction, surpassing leading therapies in depth of lowering.

• First patient dosed showed undetectable pathogenic antibodies and normalized thyroid hormones within a month.

• Pivotal trial underway with biomarker endpoints and data readout expected in 2026.

• US Graves' disease market potential exceeds $15B with 750K–850K refractory or failed patients.