Another day, another biotech shakers. Biohaven pharmaceutical BVHVN reported yesterday that its Trigriluzole Phase 2/3 trial in spinocerebellar ataxia missed the primary endpoint, see full link: http://investors.biohavenpharma.com/news-releases/2017/10-02-2017-113022152
Stock price reaction reacted negatively on headline MISSED primary endpoint, the good part in my opinion -> trigriluzole did demonstrate a favorable safety and tolerability profile, with no drug-related serious adverse events and low discontinuation rates due to adverse events. Trigriluzole has shown absence of a negative food effect, optimized oral bioavailability and no pattern of clinically significant effects on liver function, presenting a profile that appears distinct from what is described for riluzole in its U.S. prescribing information.
#BHVN stock price dropped -28% but recovered most of its losses, #BHVN closed -4.87% from -28% intraday low. Massive recovery on share price despite of multiple analysts downgrade on the data release, -> Needham $36 from $43; MS $38 from $47;
Please share any feedbacks. :)
do you think it will be back again to 35? 32 friday's close. TY