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Why Biohaven Stock Dove by Nearly 20% on Thursday
Volatile biotech stock Biohaven (NYSE: BHVN) is prone to sharp movements both up and down. On Thursday, it had one of its down days, with its share price eroding by almost 20% on a development with a top regulator. That was on a day when stocks generally did well, as indicated by the S&P 500 (SNPINDEX: ^GSPC) landing in positive territory with a 0.4% rise. After market close on Wednesday, Biohaven divulged that the U.S. Food and Drug Administration's (FDA) Division of Neurology 1 is extending the due date for its decision on a very promising pipeline drug developed by the company. Image source: Getty Images.Continue reading
Volatile biotech stock Biohaven (NYSE: BHVN) is prone to sharp movements both up and down. On Thursday, it had one of its down days, with its share price eroding by almost 20% on a development with a top regulator. That was on a day when stocks generally did well, as indicated by the S&P 500 (SNPINDEX: ^GSPC) landing in positive territory with a 0.4% rise.
After market close on Wednesday, Biohaven divulged that the U.S. Food and Drug Administration's (FDA) Division of Neurology 1 is extending the due date for its decision on a very promising pipeline drug developed by the company.
Image source: Getty Images.
