Biohaven Stock Is Plunging Today - Here's Why
Portfolio Pulse from Vandana Singh
Biohaven Ltd's (NASDAQ:BHVN) shares have dropped after the FDA declined to review the marketing application for troriluzole, a drug under its SCA program, due to the study's primary endpoint not being met. The company can request a Type A meeting within 30 days. Analysts from William Blair maintain an Outperform rating, suggesting there may still be a path to approval following the meeting with the FDA.
July 27, 2023 | 5:59 pm
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NEGATIVE IMPACT
Biohaven's stock price has dropped significantly due to the FDA's decision not to review the marketing application for troriluzole. However, there may still be a path to approval, which could potentially stabilize the stock.
The FDA's decision not to review the marketing application for troriluzole has led to a significant drop in Biohaven's stock price. However, the company can request a Type A meeting within 30 days, which could potentially lead to a path to approval. This possibility, along with the maintained Outperform rating from William Blair analysts, suggests that the stock may stabilize in the future.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100