Biohaven Ltd. - BHVN STOCK NEWS

Biohaven Pharmaceutical (NYSE: BHVN) announced the acceptance of 22 abstracts, including three oral presentations, at the 2021 American Academy of Neurology (AAN) virtual annual meeting from April 17-22. Key highlights include new data on the efficacy of Nurtec® ODT (rimegepant) for acute and preventive migraine treatment and updates on pipeline assets zavegepant, troriluzole, and verdiperstat. Rimegepant demonstrated statistically significant results for reducing monthly migraine days and pain freedom. CEO Vlad Coric emphasized Biohaven's commitment to neuroscience research excellence.

Biohaven Pharmaceutical (NYSE: BHVN) reported preliminary net product revenue of $43.8 million for NURTEC ODT in Q1 2021, with over 500,000 prescriptions written since its launch. Despite challenges from COVID-19 and typical first-quarter insurance dynamics, the company noted quarter-over-quarter growth in prescription volume and revenue. The management expressed optimism for continued growth as vaccination efforts progress. NURTEC ODT is the first oral CGRP receptor antagonist approved for migraine treatment, reflecting a significant unmet need in the market.

Rick Ware Racing has partnered with Biohaven's Nurtec® ODT and Nine Line Apparel to honor fallen service members during the Coca-Cola 600 at Charlotte Motor Speedway. This historic initiative sees one NASCAR team representing all four military branches. A commemorative t-shirt will be sold to raise funds for 22 Until None, a non-profit focused on preventing veteran suicides, which number over 8,000 annually. The program includes visits to military bases, offering service members interaction with the team and educational opportunities about migraine treatments.

Biohaven Pharmaceutical (NYSE: BHVN) announced that it has enrolled the first patient in a Phase 2/3 clinical trial for oral zavegepant, aimed at preventing migraines. This milestone has triggered a $100 million payment from Royalty Pharma, which previously funded $150 million for zavegepant's development. The study will involve around 2,900 participants to evaluate two doses of the drug. Biohaven aims to expand its CGRP product line, addressing the needs of those suffering from CGRP-related conditions.

Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) has priced its public offering of 2,686,409 common shares at $76.00 each, aiming for gross proceeds of approximately $200 million. The offering is expected to close on March 17, 2021, pending customary conditions. An underwriter option is included, allowing for an additional purchase of up to 402,961 shares. Goldman Sachs & Co. LLC acts as the book-running manager. The shares are issued under an effective shelf registration statement on Form S-3.

Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) announced a $200 million underwritten public offering of its common shares, with an additional $30 million option for the underwriter. The offering is aimed at enhancing its financial position as it targets neurological diseases with its product portfolio. The shares will be issued under an effective shelf registration statement on Form S-3, with Goldman Sachs & Co. LLC serving as the book-running manager. The offering is subject to market conditions and completion is not guaranteed.

On March 11, 2021, Biohaven announced approval from the UAE Ministry of Health for NURTEC® ODT (rimegepant) to treat acute migraines in adults. This medication is the first CGRP receptor antagonist offered as a fast-acting orally disintegrating tablet, providing relief within an hour and lasting up to two days. The partnership with Genpharm aims to expand access in the UAE, aligning with Biohaven's strategy for global growth. Notably, NURTEC ODT is not intended for migraine prevention. Common side effects include nausea, which occurred in 2% of patients.

Biohaven Pharmaceutical (BHVN) announced that over 50% of participants have been enrolled in the verdiperstat regimen of the HEALEY ALS Platform Trial, aimed at evaluating potential treatments for amyotrophic lateral sclerosis (ALS). Verdiperstat, a selective inhibitor of myeloperoxidase, is being developed for neurodegenerative diseases, including ALS. The trial involves approximately 160 adults, assessing efficacy based on changes in disease severity over 24 weeks. Despite the COVID-19 challenges, enrollment is proceeding efficiently, highlighting collaboration with the ALS research community.

Biohaven Pharmaceutical (NYSE: BHVN) announced that the Israeli Ministry of Health approved NURTEC® ODT (rimegepant) for the acute treatment of migraine in adults, marking its first regulatory approval outside the U.S. This fast-acting, orally disintegrating tablet offers pain relief within one hour and sustained efficacy lasting up to two days. The approval was achieved through a strategic partnership with Medison Pharma, enhancing access for migraine patients in Israel. NURTEC ODT is not indicated for preventive treatment or for patients with severe renal or hepatic impairment.