Benzinga | Feb 22, 2021 12:25PM EST

Biohaven Pharma's BHV-1200 Effective In Neutralizing COVID-19 Variants

* Biohaven Pharmaceutical Holding Co Ltd's (NYSE: BHVN) hyperimmune globulin mimic developed with Biohaven's MATE platform has demonstrated functional binding and neutralization of the SARS-CoV-2 virus, including the strains found in the U.K and South Africa (B.1.1.7 and B.1.351, respectively).

* Preliminary lab experiments demonstrated that BHV-1200 substantially reduced viral entry into cells.

* The Bill and Melinda Gates Foundation supports the development of the COVID-19 MATE program.

* Besides, the in vitro data indicate that BHV-1200 may activate important immune system components.

* Price Action: BHVN is down 2.29% at $80.99 in market trading hours on the last check Monday.