Biohaven Crushes Forecasts; What's Next For Its Blockbuster Hopeful?

 Biohaven Pharmaceutical's (BHVN) first-quarter pre-announcement for sales of migraine treatment Nurtec ODT crushed Wall Street's expectations Wednesday, leading BHVN stock to surge.

During the quarter, Nurtec ODT — orally disintegrating tablets — generated $43.8 million in sales, Biohaven said. That handily beat Bloomberg's estimate for $27.2 million, Mizuho Securities analyst Difei Yang said in a report to clients.

Nurtec ODT launched recently as an acute migraine treatment. But analysts expect the Food and Drug Administration to approve it as a migraine prevention drug later this quarter. That should help differentiate Nurtec ODT from the multitude of migraine products on the market.

"In addition, Nurtec ODT uptake should benefit from the country 'reopening,' given the product launched during the heart of the Covid pandemic," Yang said. "We continue to forecast peak Nurtec ODT sales exceeding $2.7 billion."

https://www.investors.com/news/technology/bhvn-stock-pops-migraine-drug-sales-crush-estimates/