Biohaven's ALS drug fails to meet study goals

The logo for Biohaven Pharmaceutical Holding Company is displayed on a screen during the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 4, 2017. REUTERS/Brendan McDermid

Sept 29 (Reuters) - Biohaven Pharmaceutical Holding Company Ltd (BHVN.N) said on Thursday its experimental drug to treat amyotrophic lateral sclerosis (ALS) failed a clinical study, the second therapy by the drugmaker to fail trials in recent months.

The migraine drugmaker in May agreed to an $11.6 billion acquisition deal by Pfizer Inc , which plans to spin off its non-migraine drugs into a new publicly traded company. read more

The same month, another Biohaven drug, troriluzole, failed to meet the main goal of a late-stage study testing it in patients with a progressive nervous system disorder.

On Thursday, Biohaven said its drug for ALS did not achieve statistically significant improvement in patients' performance of daily activities compared to a placebo in a mid-to-late-stage trial.

ALS is a progressive and life-threatening neuromuscular disease, and the average age for survival is 3-5 years after the onset of first symptoms.

Reporting by Manas Mishra in Bengaluru; Editing by Shinjini Ganguli

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