Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against Biohaven Ltd. (BHVN)

NEW YORK, July 15, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Connecticut on behalf of all persons or entities who purchased or otherwise acquired Biohaven Ltd. (“Biohaven” or the “Company”) (NYSE: BHVN) securities between March 24, 2023 and May 14, 2025, both dates inclusive (the “Class Period”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) troriluzole’s regulatory prospects as a treatment for SCA, and/or the sufficiency of data that Biohaven submitted in support of troriluzole’s regulatory approval for this indication, were overstated; (ii) BHV-7000’s efficacy and clinical prospects as a treatment for bipolar disorder were likewise overstated; (iii) all the foregoing, once revealed, was likely to have a significant negative impact on Biohaven’s business and financial condition; and (iv) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On July 27, 2023, Biohaven issued a press release disclosing that the FDA had rejected the troriluzole NDA, refusing even to review the application because the Phase 3 SCA Trial had failed to meet its primary endpoint.

On this news, Biohaven’s stock price fell $5.38 per share, or 22.61%, to close at $18.42 per share on July 27, 2023.

On December 16, 2024, Biohaven issued a press release announcing, inter alia, that it had resubmitted the troriluzole NDA to the FDA following additional purportedly positive efficacy data and "completion of a pre-NDA meeting in" the fourth quarter (“Q4”) of 2024.

On March 3, 2025, Biohaven issued a press release reporting its Q4 and full year 2024 financial results and recent business developments. Therein, Biohaven disclosed that recent data from a late-stage study of BHV-7000 in bipolar mania “did not statistically separate from the comparator on the Young Mania Rating Scale primary outcome measure[.]”

On this news, Biohaven’s stock price fell $5.12 per share, or 13.77%, to close at $32.06 per share on March 3, 2025.

Investors who purchased or otherwise acquired shares of Biohaven should contact the Firm prior to the September 12, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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