Biohaven falls after depression drug fails mid-stage trial

Biohaven

26/12/2025 14:39

Updates

** Shares of Biohaven BHVN.N fall 10.4% to $9.69

** Company said on Wednesday its experimental depression drug did not meet the main goal of a mid-stage trial

** BHVN is studying the drug, BHV-7000, for the treatment of major depressive disorder

** At least two analysts say the miss was not surprising

** Study miss is disappointing, brokerage William Blair says, but as with many studies in MDD, "we were cautious heading into this study, given difficulties in clinical trial execution and placebo creep in trials over recent years"

** "We do not think this outcome will help fundamentals or sentiment, especially given the string of negative pipeline disclosures for the company in the last year," says brokerage J.P.Morgan

** Up to last close, stock down 71% YTD

 (Reporting by Sriparna Roy in Bengaluru)

 ((Sriparna.Roy@thomsonreuters.com;))