On Friday's news that Biohaven (BHVN -15.34%) withdrew its application for a top investigational drug from an important regulator, investors aggressively traded out of the stock. The clinical-stage biotech was one of the biggest decliners in its industry, exiting Friday with a share price decline of over 15%.
Shares of early-stage biotech stocks, including Biohaven (BHVN -6.50%), Recursion Pharmaceuticals (RXRX -4.92%), and CRISPR Therapeutics (CRSP -2.05%), plunged in March, with the stocks down 35.3%, 29.6%, and 22.5%, respectively, according to data from S&P Global Market Intelligence.
Following Pfizer's acquisition, Biohaven's valuation surged from $300M at $7/share to over $4B at $42/share under Vlad Coric's leadership. Despite the significant valuation increase, substantial upside remains due to Biohaven's promising later-stage clinical assets with key catalysts expected in 2025. The investment thesis hinges on the potential success of these clinical assets, which could drive further valuation growth.
News of a big and important regulator's move was the electricity that powered Biohaven (BHVN 11.19%) stock to an 11%-plus gain on the second trading day of the week. Its leading investigational drug is now significantly closer to potential approval, and many are feeling bullish about the company.
Biohaven's NDA for Troriluzole in spinocerebellar ataxia was accepted by the FDA with Priority Review, potentially leading to approval in Q3 2025. BHV-7000, a selective Kv7 activator, is being studied for bipolar disorder and MDD, with data expected in 2025. The global major depressive disorder treatment market is expected to reach $14.96 billion by 2032.
On Monday, Biohaven Ltd. BHVN updated the taldefgrobep alfa development programs in Spinal Muscular Atrophy (SMA) and obesity.
U.S. stock futures were higher this morning, with the Dow futures gaining more than 300 points on Monday.
Biohaven said on Monday its experimental treatment for spinal muscular atrophy, a rare nervous system dosorder, helped improve patients' motor function in a late-stage study, but failed to achieve statistical significance compared to placebo and standard of care.
The pivotal BHV4157-206-RWE study evaluating Biohaven's pipeline candidate, troriluzole, for treating spinocerebellar ataxia meets its primary endpoint.
Biohaven Ltd. NYSE: BHVN has taken center stage in the biopharmaceutical sector after releasing positive results from its Phase 3 clinical trial for troriluzole, a drug being developed to treat spinocerebellar ataxia (SCA).
Biohaven (BHVN) shares surged after the company's troriluzole drug showed significant slowed progression of spinocerebellar ataxia, a rare neurological disease. George Tsilis shares how the promising results can mark the beginning of a long road to success for Biohaven.
Biohaven (BHVN) shares soared 15% Monday after the biotech firm announced positive results from a study of its experimental treatment for a rare neurological condition.