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Neuro-focused Biohaven Pharmaceutical Holding Co. Ltd. netted $303mm in a public offering of 7.5mm shares (including partial exercise of the overallotment) at $43. The company will use the proceeds to support continued and expanded development of its three platforms: calcitonin gene-related peptide (CGRP) receptor antagonists; glutamate modulators; and myeloperoxidase (MPO) inhibitors. An NDA submission is expected in mid-2019 for its most advanced CGRP candidate rimegepant (in Phase III for migraine) using a priority review voucher (PRV) Biohaven bought earlier this year from GW Pharmaceuticals, allowing the former to designate a single NDA for priority status and providing an accelerated six-month review period.
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