Oppenheimer analyst Esther Rajavelu said the fact that troriluzole's Phase 2/3 clinical trial in Alzheimer's disease will continue after passing an interim futility analysis is an important milestone for Biohaven Pharmaceuticals and she keeps an Outperform rating and $67 price target on the stock following this morning's announcement. She estimates the U.S. market potential for Alzheimer's to be $4B+ and her current price target assumes 25% probability for commercial revenues based on a potential launch of troriluzole by year-end 2021 and a co-commercialization model.

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The deal size was i creased to $230M in common stock from $200M in common stock and the range was $40.50-$42.00. JPMorgan acted as sole book running manager for the offering.

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include: Soligenix (SNGX),... To see the rest of the story go to thefly.com. See Story Here