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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