Biohaven's Verdiperstat Fails To Show Efficacy For Multiple System Atrophy Treatment; Stock Down

(RTTNews) - Biohaven Pharmaceutical Holding Company Ltd.'s (BHVN) verdiperstat did not statistically differentiate from placebo on the prespecified primary efficacy measure, nor on the key secondary efficacy measure, as per results from phase III trial in multiple system atrophy.

In Monday pre-market trade, BHVN was trading at $126.50, down $6.88 or 5.16%.

Irfan Qureshi, M.D., Vice President of Neurology at Biohaven said, "While we are disappointed that verdiperstat did not demonstrate efficacy for the treatment of MSA, Biohaven remains committed to fighting on behalf of people living with neurodegenerative diseases."

Multiple system atrophy or MSA is a rare, rapidly progressive, and fatal neurodegenerative disease that leads to death within a median of 6-10 years after the onset of symptoms. The most common causes of death in MSA are infection and cardiopulmonary complications.

The company noted that initial analysis of safety data was consistent with the overall profile of verdiperstat from prior clinical trial experience.

Additional analyses are still pending, and full study results will be presented at an upcoming scientific meeting, the company said in a statement.

Meanwhile, Biohaven said it expects to complete patient enrollment in an ongoing clinical trial, which evaluates verdiperstat in amyotrophic lateral sclerosis, in the fourth quarter of 2021.