Biohaven Shares Up After Preliminary Nurtec ODT 2Q Product Overhaul

By Michael Dabaie

The shares of Biohaven Pharmaceutical Holding Company Ltd.  were up 12% to $110.99 after the company reported $93 million in preliminary second-quarter product revenue from Nurtec ODT.
Nurtec ODT is a migraine medication approved as dual therapy for acute and preventive treatment.

“We contacted the company to ensure there were no unique factors for the quarter and management confirmed that while additional details will be provided with the full results, if there was anything unusual this quarter compared As a result, we believe the vast majority of the beat is driven by underlying Nurtec ODT demand, along with an improving net price,” Mizuho Securities USA said in an analyst note.
The US Food and Drug Administration approved Nurtec ODT for the acute treatment of migraine in February 2020 and for the preventive treatment of episodic migraine in May 2021.
“Nurtec ODT’s recent approval for migraine prevention probably boosted demand late in the quarter, but we’re surprised at the pace at which net price appears to have improved,” Mizuho said.
Mizuho said its pre-announced quarterly revenue was well above its own estimate of $55 million.
Write to Michael Dabaie at [email protected]