Biohaven .(US:BHVN) Zhi Tong Cai Jing·2025-12-25 01:50Group 1 - Biohaven's experimental depression drug failed to meet primary endpoints in a mid-stage trial, contributing to a stock price drop of 16% in after-hours trading and an overall decline of over 70% this year [1] - The company previously faced a clinical trial failure in March and a rejection from U.S. regulators for its drug Troriluzole, intended for treating a rare neurodegenerative disease [1] - In a six-week trial for patients with major depressive disorder, Biohaven's drug BHV-7000 did not show significant differences in depression symptom reduction compared to a placebo [1] Group 2 - Biohaven plans to focus resources on key priority areas such as immunology, obesity, and epilepsy by 2026, and will not pursue additional psychiatric clinical trials [1] - Analyst Leonid Tsymashev noted that the trial failure was not surprising given the limited clinical efficacy data and the challenges associated with major depressive disorder [1] - Following the FDA's rejection of Troriluzole, Biohaven announced a plan to cut annual direct R&D spending by approximately 60% [2]