Biohaven Pharmaceuticals Holding Co Ltd (NYSE: BHVN)
Biohaven (BHVN) today announced that the company has officially closed its IPO, raising $193.5 million before deducting underwriting discounts, fees, and commissions. As a result of the full exercise of underwriters options, the total public offering size was 11,385,000 shares of common stock.
BHVN Has Momentum
BHVN was a featured stock of the week by Kenny Soulstring on Monday, where he introduced CNA Finance followers and subscribers to the company at $17.00 per share. Since his introduction, BHVN has traded higher by over 27% at the time of this publication. According to Soulstring's article, BHVN has further to run, banking on the company's pending phase III trials targeting chronic migraine and ALS.
BHVN is advancing BHV-3000 and BHV-3500 to target and treat chronic migraine through its CGRP platform. The company is also developing BHV-4157 in a potentially pivotal Phase IIb/III trial to assess efficacy and safety in treating patients with Hereditary spinal ataxia (SCA).
Trading BHVN Through PTGEF
Investors have been taking advantage of the leverage through Portage Biotech (PTGEF), who has a 28% ownership stake in BHVN. PTGEF, which trades at .38 cents (10:02est) is one of the largest shareholders in BHVN and is developing additional opportunities for its shareholders through its ownership interests in Sentien, EyGen and Portage Pharmaceuticals.
Since the lead into the IPO, PTGEF has enjoyed share price traction to the upside, trading higher by over 40% since the news of the pending BHVN IPO was announced. Since the BHVN offering, PTGEF stock has risen by over 15%.
Taking a look at BHVN either as a straight-up investment or through PTGEF may prove to be a wise decision. Each stock, at current levels, may prove undervalued and both are actively developing and working hard to deliver novel drugs to market. The investment in either brings with it a platform to develop innovative medicines that are looking to serve unmet medical needs.
Disclosure: This article was written by Kenny Soulstring, and it reflects my own opinions and unique articulation. This article is not intended to offer investing advice, guarantee 100% accurate predictions or to be interpreted as providing a personal recommendation. What I can guarantee, though, is accurate research, thoughtful analysis and an enthusiasm about any stock that I cover.
While I seek to uncover emerging companies that I feel have true value and potential, it's important that investors assign an appropriate time horizon to each of their investments, understanding that emerging companies need time to mature.
I wrote this article myself and it includes my own research and expresses my own opinions. I am not receiving compensation for it (other than from CNA Finance). I have no business relationship with any company whose stock is mentioned in this article.
Additional Disclosure: I am long PTGEF and may purchase additional shares within the next 72 hours.I have no position in BHVN.
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