Biohaven down after unveiling $250 mln stock offering

Biohaven

30/09/2024 21:48

** Biohaven's  BHVN.N  shares down 1% to $49.49 in extended
trading as co looks to raise equity
    ** Biopharma co commences $250 mln stock offering for
general purposes
    ** JP Morgan and Morgan Stanley are bookrunners
    ** BHVN ended regular session on Mon down 2% at $49.97
    ** Last Mon, shares finished up ~14% at $45.94 after co's
drug troriluzole met main goal of a study for Spinocerebellar
ataxia (SCA), inherited neurodegenerative disease that mainly
affects the cerebellum
    ** Co has ~94.5 mln shares outstanding for ~$4.7 bln market
cap, per LSEG
    ** YTD, shares up ~17% and have nearly doubled over the past
12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))