Why Biohaven Stock Was Rocking the Market This Week

Biohaven’s shares jumped more than 16% for the week as of Friday’s pre-market trading, driven by a major licensing deal and a court win. The clinical-stage biotech agreed with South Korea’s SK Biopharmaceuticals on an exclusive worldwide license to its Kv7 ion channel platform. SK will pay up to $795 million in upfront and milestone payments, plus tiered royalties on U.S. sales if Biohaven’s lead candidate opakalim is approved by the FDA. SK also receives rights to opakalim and will cover Kv7 program costs. Separately, a Delaware judge entered judgment for Biohaven and Yale, awarding $4 million total in a trade-secret case against Avilar Therapeutics and RA Capital Management.