Shares of Biohaven Ltd. (NYSE:BHVN) added ~14% to reach an all-time high on Thursday following three straight sessions of gains, a day after the neuro-pharmaceutical drug developer conducted its R&D Day.
The New Haven, Connecticut-based biotech disclosed pipeline and regulatory updates at the event on Wednesday in conjunction with the ongoing Yale Ventures’ Innovation Summit 2023.
Highlights of the event include Biohaven’s (BHVN) plans to begin pivotal trials for the neurology candidate BHV-7000, targeting focal epilepsy and bipolar disorder in H2 2023.
Having recruited about 225 patients globally, the company also expects to complete enrollment in a Phase 3 trial for Taldefgrobep Alfa in spinal muscular atrophy this year.
“We believe this year will prove to be busy for the New Biohaven team considering the multiple value-creating milestones in the near term,” Cantor Fitzgerald analyst Charles Duncan wrote with an Overweight rating and a $31 per share target on BHVN ahead of the event.