** Drug developer Biohaven's BHVN.N shares rise 8.50% to $41.50 premarket
** Co says the FDA on Tuesday granted priority review status to the firm's marketing application for the drug troriluzole to treat spinocerebellar ataxia $(SCA)$
** 'Priority review' status is assigned to drugs that offer a significant improvement over other available treatments for a specific disorder or would provide a treatment option where none exists
** Co's application to the FDA is based on data from a real-world study in which troriluzole helped improve symptoms of the disease over three years
** BHVN's drug also slowed progression of the disease by 50%-70% vs placebo, according to the data
** William Blair analysts said this rate of decline represents a delay of 1.5-2.2 years in disease progression for SCA patients
** SCA is a rare, genetic, life-threatening neurodegenerative disease, which affects a part of the brain vital to coordination of physical movement
** Co expects to receive a decision from the FDA during Q3 2025
** In the last 12 months, stock has fallen 20.54%
(Reporting by Siddhi Mahatole)
((siddhiprabhanjan.mahatole@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.