Shares of Biohaven (NYSE: BHVN) skyrocketed by 28.2% as of 11:10 a.m. ET Wednesday after the biopharmaceutical company submitted a regulatory filing to the Securities and Exchange Commission that included a new investor presentation.

The big news in that new presentation related to Biohaven's experimental drug BHV-1300. Biohaven revealed that in phase 1 clinical trials, repeat dosing with the drug reduced the antibody immunoglobin G (IgG) by more than 90%. The company also stated in the presentation that BHV-1300 "can specifically remove target IgG from circulation faster than FcRn inhibitory antibodies, antibody fragments, or immunosuppressants."

Biohaven's news could bode well for BHV-1300 as a treatment for a number of autoimmune diseases. The list includes common diseases such as rheumatoid arthritis as well as rare ones such as generalized myasthenia gravis. Biohaven believes that its drug could be highly differentiated from competitors based on its mechanism of action, rapid onset, and the potential for a better safety profile. 

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Source Fool.com