Biohaven Ltd. (NYSE:BHVN) shares were trading lower Friday but have since flattened after the company announced its Phase 2 proof-of-concept study of BHV-7000 in major depressive disorder failed to meet its primary-endpoint.
What To Know: Biohaven said the study did not achieve a statistically significant reduction in depressive symptoms versus placebo as measured by the change in the Montgomery Åsberg Depression Rating Scale over six weeks. While trends favoring BHV-7000 were observed in certain subgroups, including patients with more severe depression at screening and baseline, the company said those analyses are considered hypothesis-generating.
Biohaven said BHV-7000 was safe and well tolerated, with adverse events largely mild to moderate and resolving spontaneously. The most common adverse events reported at rates above 5% were headache and nausea, with similar incidence between the treatment and placebo groups. A low incidence of central nervous system adverse events was observed, which the company said is consistent with the drug’s lack of GABA activity.
The company said it does not plan to pursue additional psychiatric clinical trials for BHV-7000, citing strategic prioritization of its portfolio. Biohaven said it will focus resources on immunology, obesity, and epilepsy programs in 2026, while additional analyses from the depression study are ongoing and expected to be presented at a future scientific meeting.
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BHVN Price Action: At the time of writing, Biohaven shares are trading 0.19% higher at $10.79, according to data from Benzinga Pro.
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