Biohaven's drug candidate for neurological disorder fails study

FILE PHOTO: The logo for Biohaven Pharmaceutical Holding Company is displayed on a screen during the company’s IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 4, 2017. REUTERS/Brendan McDermid

(Reuters) -Biohaven Pharmaceutical Holding Co Ltd said on Monday its drug candidate, verdiperstat, failed to show effectiveness in treating a rare neurological disorder called multiple system atrophy (MSA).

Currently, there are no therapies that target the underlying disease for MSA, a degenerative disorder that affects body’s involuntary functions such as blood pressure and breathing, the drugmaker said.

MSA shares many Parkinson’s disease-like symptoms, such as slow movement and poor balance and can eventually lead to death, according to the Mayo Clinic

Additional analyses are still pending and full-study results will be presented at an upcoming scientific meeting, the company said.

Biohaven also said it expects to complete patient enrollment in an ongoing clinical trial testing verdiperstat in amyotrophic lateral sclerosis (ALS) — a neurological disorder known as Lou Gehrig’s disease — in the fourth quarter of 2021.

Its shares were down over 10% at $120 in premarket trading.

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