Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against Biohaven Ltd. (BHVN)

Core Viewpoint - A securities class action lawsuit has been filed against Biohaven Ltd. for allegedly making false and misleading statements regarding its drug candidates, which has negatively impacted its stock price and financial condition [1][2]. Group 1: Legal Action - A class action lawsuit has been initiated in the U.S. District Court for the District of Connecticut on behalf of individuals or entities that acquired Biohaven securities between March 24, 2023, and May 14, 2025 [1]. - The lawsuit claims that Biohaven overstated the regulatory prospects of its drug troriluzole and the efficacy of BHV-7000 for bipolar disorder, which were not disclosed accurately [2]. Group 2: Stock Price Impact - Following the FDA's rejection of the troriluzole NDA on July 27, 2023, Biohaven's stock price dropped by $5.38, or 22.61%, closing at $18.42 per share [3]. - On March 3, 2025, after disclosing disappointing results for BHV-7000, Biohaven's stock fell by $5.12, or 13.77%, closing at $32.06 per share [5]. Group 3: Company Developments - Biohaven resubmitted the troriluzole NDA to the FDA on December 16, 2024, citing additional positive efficacy data [4]. - The company reported that a late-stage study of BHV-7000 did not meet its primary outcome measure, raising concerns about its clinical prospects [5].