Biohaven Stock Surges 8% As FDA Accepts Troriluzole NDA For Priority Review

(RTTNews) - Biohaven Ltd. (BHVN) is up 7.74 percent during Tuesday's trading, gaining $3.35 to trade at $41.60. The stock's rise follows the FDA's acceptance of Biohaven's New Drug Application or NDA for troriluzole, a treatment for spinocerebellar ataxia, and its designation for Priority Review.

BHVN is currently trading at $41.28, up from the previous close of $38.25 on the New York Stock Exchange. The stock has fluctuated between $38.89 and $42.68 during today's session. Trading volume stands at 1.03 million shares, surpassing the average volume of 961,191.

The stock remains within its 52-week range of $26.80 to $62.21, as investors react positively to the potential milestone for Biohaven.

If approved, troriluzole would be the first FDA-approved treatment for this rare neurodegenerative disease, with commercialization expected in 2025.