Pomerantz Law Firm Announces the Filing of a Class Action Against Biohaven Ltd. and Certain Officers – BHVN

Core Viewpoint - A class action lawsuit has been filed against Biohaven Ltd. and certain officers for alleged violations of federal securities laws during the Class Period from March 24, 2023, to May 14, 2025, seeking damages for affected investors [1][2]. Company Overview - Biohaven is a biopharmaceutical company focused on developing therapies in immunology, neuroscience, and oncology, with notable products including troriluzole for spinocerebellar ataxia and BHV-7000 for bipolar disorder [4]. Regulatory Developments - In May 2022, a Phase 3 trial for troriluzole failed to meet its primary endpoint, yet the company continued to promote its regulatory prospects based on post-hoc analyses [5]. - Biohaven submitted a New Drug Application (NDA) for troriluzole to the FDA in May 2023, and the European Medicines Agency (EMA) accepted its Marketing Authorization Application (MAA) in October 2023 [6]. Allegations of Misleading Statements - Throughout the Class Period, Biohaven's executives allegedly made materially false and misleading statements regarding the regulatory prospects of troriluzole and BHV-7000, which were later revealed to be overstated [7]. Stock Price Reactions - 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 [8]. - On March 3, 2025, after disclosing disappointing results for BHV-7000, the stock fell by $5.12, or 13.77%, to close at $32.06 [10]. - After reports of the withdrawal of the troriluzole MAA on April 25, 2025, the stock price decreased by $3.56, or 15.21%, to close at $19.84 [11]. - On May 15, 2025, following news of an extended review period for the troriluzole NDA, the stock fell by $3.84, or 19.53%, to close at $15.82 [12].