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BHVN Stock Price News: Trading at a Loss of -0.60%

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Biohaven Pharmaceutical Holding Company Ltd.(NYSE: BHVN)’s stock price is trading at a loss of -1.60%, current price- $69.72 As of April 9, When the market opened. The previous closing price was $71.35 on April 7 and while yesterday (April 8) opening price was $72.10 thus a decrease of $0.43 has occurred so far. 

Biohaven Pharmaceutical Holding Company Ltd.(NYSE: BHVN)’s stock price has been downwards sloping for quite a while now. As of 2021, Biohaven Pharmaceutical Holding Company Ltd.(NYSE: BHVN)’s highest trading price was $85.98, which dates back to Jan 19, 2021. During the past week, the price has dropped low as $62.57 but it bounced back recently. 

Based on preliminary unaudited financial information, the Company reported $43.8 million in net product revenue from sales of NURTEC ODT in the first quarter of 2021. Total prescriptions of NURTEC ODT from product launch to date (as of March 31, 2021) were over 500,000, with over 30,000 unique prescribers.

The foregoing information reflects the Company’s estimate with respect to net product revenue for NURTEC ODT based on currently available information which is preliminary and unaudited, is not a comprehensive statement of the Company’s financial results and is subject to completion of the Company’s financial closing procedures. The Company’s final results that will be issued upon completion of its closing procedures may vary from these preliminary estimates.

 Vlad Coric, M.D., Chief Executive Officer of Biohaven commented, “Despite the typical first-quarter insurance dynamics associated with the new year prior authorizations/deductibles and the winter surge of COVID-19 affecting prescription volumes, NURTEC ODT continues to grow quarter over quarter in both prescription volume and net revenue. Our commercial team continues to build strong momentum for the brand as we also receive positive feedback from patients and physicians regarding the important role that NURTEC ODT is playing in the acute treatment of migraines. The impressive market growth of NURTEC ODT reflects the significant unmet need that exists for patients suffering from the debilitating effects of acute migraine, our strong commercial and managed markets team, and the differentiated product label compared to competitors. We’re proud of our commercial and R&D team members who remain dedicated to delivering this important medication to patients and we look forward to improved market dynamics as COVID-19 subsides with the increasing rollout of multiple vaccines.”

BJ Jones, Chief Commercial Officer, added, “NURTEC ODT continues to demonstrate strong prescription growth and increases in quarterly net revenue. We are beginning to see in-market dynamics improve as the vaccines roll out and look forward to continued market growth for this important new acute treatment of migraine.”

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