The company said two Phase II programs – NBI-921352 in focal onset seizure and NBI-1065846 in anhedonia – failed. It is investigating potential read-through to another seizure disorder for ‘352.

Leaders from three companies that have managed to achieve successful turnarounds offered some advice and encouragement to biotechs weathering the current financial downturn at the recent Jefferies Healthcare conference in London.

As signaled when Pfizer acquired Biohaven’s Nurtec and CGRP assets, Biohaven will continue under a modified name, with a focus on epilepsy, obsessive compulsive disorder and spinal muscular atrophy.

During Q2, biopharmas brought in an aggregate $12.5bn in financing and device company fundraising totaled $3.7bn; while in vitro diagnostic firms and research tools players raised $720m.