Phase III results for Biohaven Pharmaceuticals Holding Co. Ltd.'s oral CGRP receptor antagonist rimegepant bode well for competing against Allergan PLC's rival ubrogepant, the company and analysts argue, because rimegepant met both co-primary endpoints in the acute treatment of migraine headaches based on a single dose, while Allergan's trial allowed for rescue medication or re-treatment.
Biohaven's share price fell as much as 33.4% on March when it appeared that rimegepant did not perform as well in Phase III as it did in Phase II. But the initial plunge became more of a dip with the stock closing down just 7.3% at $22