Biohaven Pharmaceutical Holding Company Ltd. (BHVN), which disappointed investors early this month, following negative results from its phase III trial of Troriluzole in Generalized Anxiety Disorder, has two more catalysts to watch out for this quarter.
Biohaven is a clinical-stage biopharmaceutical company with a pipeline of product candidates targeting neurological diseases, including rare disorders.
The Company’s most advanced drug candidate is Rimegepant, an orally available, selective and potent small-molecule calcitonin gene-related peptide (CGRP) receptor antagonist, for the treatment of migraine.
CGRP is expressed in various nerve cells, and when it is released causes blood vessels to dilate and press on the nerve endings, leading to pain. Therefore, blocking CGRP is known to reduce pain in migraine pathophysiology.
Biohaven’s New Drug Applications for Rimegepant ODT and tablet formation, seeking approval for the acute treatment of migraine, are under FDA review, with a decision expected this quarter.
Rimegepant is also being evaluated in the preventive treatment of migraine and a phase III trial in this indication is underway, with topline data due this quarter.
Competitors & Market Potential:
Aimovig, co-developed by Novartis and Amgen, Teva’s Ajovy, Eli Lilly’s Emgality and Allergan’s Ubrelvy are approved CGRP inhibitors for migraine – the same class of drugs to which Biohaven’s investigational Rimegepant also belongs to.
Rimegepant, if approved, could bring in $897 million in annual sales in 2024, according to EvaluatePharma.
According to the Migraine Research Foundation, migraine affects 39 million men, women and children in the U.S. and 1 billion worldwide. It is the 6th most disabling illness in the world.
Will the armamentarium of CGRP inhibitors for migraines get a new addition this year?
BHVN has traded in a range of $36.69 to $67.86 in the last 1 year. The stock closed Friday’s trading at $45.34, down 1.18%.
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