Scholar Rock hits 3-year high on rival Biohaven's drug setback

Biohaven

25/11/2024 14:49

** Drugmaker Scholar Rock Holding's shares  SRRK.O  rise
32.2% to a roughly 3-year high of $39.45
    ** SRRK's rival Biohaven  BHVN.N  said on Monday its
experimental treatment for a rare neuromuscular disorder failed
to meet the main goal of improving patients' motor function in a
late-stage trial
    ** Truist analysts raise their peak sales estimate on
apitegromab, SRRK's drug for the same disorder, called spinal
muscular atrophy, to $1.5 bln from $1.2 bln after Biohaven's
announcement  
    ** SRRK shares surged over 360% on Oct. 7 after apitegromab
met the main goal of a late-stage trial; shares have doubled YTD
    


 (Reporting by Manas Mishra)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15;))