Biohaven falls after depression drug fails mid-stage trial

Shares of Biohaven BHVN.N fall 13.97% to $9.30 premarket

Co said on Wednesday its experimental depression drug did not meet the main goal of a mid-stage trial

Co is studying the drug BHV-7000 for the treatment of major depressive disorder

Study miss is disappointing, brokerage William Blair says, but adds, as with many studies in MDD, we were cautious heading into this study, given difficulties in clinical trial execution and placebo creep in trials over recent years

Up to last close, stock down 71% YTD