Biohaven Stock Spikes After Drug Candidate To Treat Rare Neurodegenerative Disease Shows Promise
Portfolio Pulse from Vandana Singh
Biohaven Ltd. (NASDAQ:BHVN) announced promising results from a study on their drug candidate, troriluzole, for treating Spinocerebellar Ataxia (SCA), a rare neurodegenerative disease. The study showed significant improvements and a slower disease progression rate. Biohaven plans to submit a New Drug Application to the FDA in late 2024, with potential commercialization in 2025.
September 23, 2024 | 3:22 pm
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Biohaven's stock surged 12% after announcing positive results from a study on their drug candidate, troriluzole, for Spinocerebellar Ataxia. The study met its primary endpoint, showing significant improvements and a slower disease progression rate. Biohaven plans to submit an NDA to the FDA in late 2024, with potential commercialization in 2025.
The positive study results for troriluzole, a potential treatment for SCA, have led to a significant increase in Biohaven's stock price. The lack of FDA-approved treatments for SCA and the promising data increase the likelihood of future approval and commercialization, boosting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100