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Should Investors Buy Biohaven's Stock Now?

TheMotleyFool

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Should Investors Buy Biohaven's Stock Now?Photo, wide shot, wide-angle lens, Clinical research organization, sunset photo at golden hour, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/02f7778c-d723-4fb3-bdef-fabb7e5fc9c8.png

On Monday, Feb. 10, Biohaven Pharmaceuticals (NYSE: BHVN) declared its anxiety medicine failed in a phase 3 clinical trial. The stock price dropped 8% in response to the news. Should investors be cautious or opportunistic following the latest turn of events?

Image source: Getty Images

Biohaven's drug troriluzole did not perform better than placebo in a 402-patient trial to treat generalized anxiety disorder. The company stated that it does not intend to continue forward with the drug by itself in anxiety but will continue on-going clinical trials in other indications.

Source Fool.com

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