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BUZZ-Biohaven jumps after securing up to $600 million investment from Oberland Capital

Reuters
Apr 28, 2025
BUZZ-Biohaven jumps after securing up to $600 million investment from Oberland Capital 

** Drugmaker Biohaven's BHVN.N shares jump 8.4% to $21.51 premarket

** BHVN announces up to $600 million investment from investment firm Oberland Capital in exchange for capped milestone and royalty payments on future global net sales of its experimental drug, troriluzole

** Troriluzole is currently in late-stage development for obsessive-compulsive disorder (OCD), pending approval from the U.S. Food and Drug Administration

** Oberland may purchase up to $600 million of BHVN's bonds, of which $250 million will be funded before April end

** Covington & Burling served as legal adviser to Biohaven while Cooley advised Oberland

** All 16 brokerages covering the stock rate "buy" or higher; median PT $60 - data compiled by LSEG

** As of last close, BHVN stock down 47% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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