Why Biohaven Stock Was Rocking the Market This Week
It signed a collaboration and licensing deal potentially worth $795 million.
Overview
The past few business days have been eventful for Biohaven (NYSE: BHVN). The company, which, in its present incarnation, is a clinical-stage biotech, agreed to an impressive licensing and collaboration deal with a peer and secured a favorable judgment in a court case.
These factors helped propel Biohaven stock to a more than 16% gain week to date as of Friday before market open, according to data compiled by S&P Global Market Intelligence.
Details
Of the two developments, the more impactful was that agreement. Early Wednesday morning, Biohaven announced that South Korea-based SK Biopharmaceuticals will compensate it with up to $795 million in upfront and milestone payments for an exclusive worldwide license to its Kv7 ion channel platform.
Source
Originally published at www.fool.com.