Shares of Biohaven Ltd. (NYSE: BHVN) added ~14% to hit an all-time high on Thursday after three straight sessions of gains, a day after the neuro-pharmaceutical drug developer held its R&D day.
The New Haven, Conn.-based biotech disclosed the pipeline and regulatory updates to the event Wednesday in conjunction with the ongoing Yale Ventures 2023 Innovation Summit.
Highlights of the event include Biohaven’s (BHVN) plans to begin pivotal trials for neurology candidate BHV-7000, targeting focal epilepsy and bipolar disorder in the second half of 2023.
After enrolling approximately 225 patients worldwide, the company also expects to complete enrollment in a Phase 3 trial for Taldefgrobep Alfa in spinal muscular atrophy this year.
Biohaven (BHVN) was spun off from its former company Biohaven Pharmaceuticals just ahead of Pfizer’s (PFE) roughly $12 billion acquisition of the migraine drug maker in 2022.
“We believe this will be a busy year for the New Biohaven team given the multiple stages of near-term value creation,” wrote Cantor Fitzgerald analyst Charles Duncan, with an overweight rating and a target of $31 per share on BHVN before the event. .