Biohaven's depression drug fails mid-stage trial, shares fall

Biohaven (NYSE: BHVN) reported results from a Phase 2 proof-of-concept study of BHV-7000 in major depressive disorder (MDD) on Dec. 24, 2025. The study did not meet its primary endpoint (change in MADRS over six weeks versus placebo). Trends favoring BHV-7000 were observed in some clinically relevant subgroups, including participants with more severe depression at screening and baseline. Overall safety was acceptable: adverse events were mostly mild or moderate and largely resolved, with headache (10.7% vs 9.9%) and nausea (4.2% vs 5.6%) as the only events >5% in any arm. Additional analyses are ongoing and Biohaven will present updates at the J.P. Morgan Healthcare Conference in Jan 2026.

https://www.stocktitan.net/news/BHVN/biohaven-provides-update-from-phase-2-proof-of-concept-study-with-79fij1nqgt91.html