Af­ter watch­ing its share price soar on a Bloomberg re­port and heat­ed ru­mors, Bio­haven stock takes a bil­lion-dol­lar bath

Back in April, Bio­haven Phar­ma­ceu­ti­cal be­came one hot biotech stock $BHVN based on a re­port in Bloomberg that some “po­ten­tial bid­ders” had been kick­ing the tires at the biotech, which has a lead drug for mi­graines. Then the ru­mor mill re­al­ly start­ed to smoke when ex­ecs can­celed a pre­sen­ta­tion at an in­vestor con­fer­ence a lit­tle more than a week ago.

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