Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN) is having a relatively strong day in the market today after announcing that it has received Fast Track Designation. Of course, this led to excitement among investors, pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (12:07), BHVN is trading at $21.81 per share after a gain of $0.22 per share or 1.02% thus far today.
BHVN Gains On Fast Track Designation
As mentioned above, Biohaven Pharmaceutical Holding Company is having a strong day in the market today after announcing the the United States Food and Drug Administration has granted Fast Track Designation on a key product candidate. The candidate is trigriluzole (BHV-4157). The treatment is being studied for Spinocerebellar Ataxia (SCA). Previously, the treatment has received Orphan Drug Disignation from the FDA. Currently, the treatment is in the midst of a Phase 2/3 clinical trial with topline results expected to come down the line in 2018. In a statement, Vlad Coric, M.D., CEO at BHVN, had the following to offer…
“This Fast Track Designation from the FDA recognizes the high unmet medical need in patients with SCA…. Fast track designation will help facilitate Biohaven’s development of trigriluzole, and potentially expedite future regulatory review of trigriluzole for patients with SCA.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BHVN. In particular, we’re interested in following the company’s ongoing work with regard to trigriluzole and are excited for the results from the ongoing trial. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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