Biohaven’s tror has ‘key differences’ from uniCure case, says Raymond James

Biohaven (BHVN) shares fell about 25% pre-market amid concern that the FDA’s reversal on uniCure’s (QURE) Huntington’s gene therapy signals trouble for Biohaven’s troriluzole new drug application in spinocerebellar ataxia, but key distinctions exist, UBS tells investors in a research note. The firm, which has a Strong Buy rating on Biohaven shares, says Biohaven’s filing is under the Center for Biologics Evaluation and Research’s Neurology I division with priority review already granted, while uniCure’s program falls under CBER and has not yet filed, and Biohaven’s oral prodrug of riluzole poses far lower safety and procedural risk than uniCure’s invasive gene therapy approach.