Biohaven Pharmaceutical files for IPO

NEW HAVEN, Conn. — Biohaven Pharmaceutical filed a Form S-1 with the Securities and Exchange Commission, hoping to obtain up to $100 million in proceeds from its initial public offering. The company plans to list its shares under the ticker symbol BHVN on the New York Stock Exchange.

New Haven-based Biohaven is engaged in the identification and development of clinical stage compounds targeting the glutamatergic system and other neurological pathways. The company’s first drug candidate, BHV-0223, is a novel formulation of a glutamate-modulating agent, being developed under FDA 505(b)(2) guidelines for Amyotrophic Lateral Sclerosis (or Lou Gehrig’s disease). The FDA cleared the Company’s IND for BHV-0223 in August 2015, and Biohaven has completed a pharmacokinetic study in humans and is planning to launch a pivotal bioequivalence study.

Biohaven’s second clinical compound, trigriluzole, is a New Molecular Entity for neurodegenerative diseases, neuropsychiatric disorders and potentially cancer indications. The company states it plans to advance other approaches and is actively exploring licenses for additional compounds.