Biohaven Plans to Maximize Neurological Medication for IPO
Biohaven Pharmaceuticals is a company that specializes in the treatment of rare neurological diseases. Currently, it is still in its clinical stage and mainly specializes in the production of compounds that target orphan neurologic indications and Pathways of the Central Nervous System. The firm is based in Connecticut and has been running since 2014. Currently, it is under the management of Declan Morgan who acts as the Chairman of Biohaven’s Board of Directors. Other administrators include Gregory Bailey who serves as Senior Vice President of Business Development, John Childs and Vlad Coric who is the enterprise’s Chief Executive Officer. Albert Cha, Eric Aguiar, and David A. Lewin also serve on the company’s board under different capacities ranging from financial management to representatives for biological research.
The company filed with the Securities Exchange Commission on April 7th concerning its release. It targets a revenue of 100 million from the issuance. Firm representatives reported that the business plans to register its common stock under the ticker BHVN. However, the spokesmen also stated that the specific revenue target they said the company aimed for was specifically so that the commission could calculate registration costs. As such, there could be a larger offering in the offing. Amongst its underwriters, the firm has listed Morgan Stanley, Piper Jaffray and Barclays as overseeing the deal. Further financial information such as the stock price range is yet to be released.
The firm’s two products, if successfully produced, could prove it to be highly profitable under the healthcare sector. Its first potential drug is BHV-0023. It aims at offering treatment for Amyotrophic Lateral Sclerosis. The disease causes the death of neurons that control voluntary muscles, thereby significantly impairing and individual’s motion over time. Biohaven obtained FDA Approval for research on the product in 2015. Since then, it has made further strides in the production and treatment mechanism for this compound. Currently, the firm has completed a study of the drug’s effect on humans and plans to begin a pivotal bioequivalence study for the medication.
Biohaven’s other potential treatment compound is trigriluzole. According to the company, this product could potentially lead to the treatment of diseases that cause degeneration of neurons, heal neuropsychiatric disorders and even have a positive effect on individuals with cancer. However, research is still ongoing and is yet to be conclusive on the exact nature of the product. Additionally, Biohaven is using the medication to explore a variety of fields apart from its neurological healing properties.
The manufacturer holds intellectual property rights for its products. Further, its research is supported by institutions such as Yale University, which provides some of the facilities for the company’s advances. In its latest round of funding done at the end of the final quarter of 2016, the business secured 80 million from private investors. The funds were used to continue with the third phase of clinical trials and research for its products. Apart from the progress in trials, the team’s leadership is well-versed in the biopharmaceutical industry. Financial reports for this firm are yet to be declared.