Biohaven's reformulated ALS drug is a flop in anxiety, unnerving investors ahead of CGRP migraine decision
Weeks after raising investors’ hopes around a reformulated ALS generic as a treatment for Alzheimer’s, Biohaven said the drug is a flop in generalized anxiety disorder.
The Yale spinout has built its portfolio of neurological drugs around three platforms that target CGRP, glutamate and myeloperoxidase. But as execs gear up for an imminent FDA decision on their CGRP acute migraine therapy — which would be their first commercial treatment — the bruising failure on troriluzole didn’t inspire confidence, sending shares down as much as 17% pre-market before stabilizing to $46.69, 8.79% below the previous close.
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