Biohaven slumps after $150 mln stock sale plans announced

Biohaven

11/11/2025 22:03

** Biohaven's BHVN.N shares down 6.8% after hours to $7.94 as biopharma co seeks equity raise

** New Haven, Connecticut-based co commences $150 mln stock offering for general corporate purposes

** JP Morgan and Goldman Sachs are bookrunners

** Co has ~105.9 mln shares outstanding for about $900 mln market cap

** BHVN on Tues rose 9.4% to close at $8.52, down 77% YTD

** On Nov 5, shares plunged 40% to $8.34 after the U.S. FDA declined to approve troriluzole, its experimental drug for spinocerebellar ataxia (SCA), a rare brain disorder

** 14 of 18 analysts rate BHVN "strong buy" or "buy", rest rate "hold"; median PT of $27 down from $49.50 a month ago, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))