Biohaven Pharmaceutical, a clinical-stage biopharmaceutical company founded in 2014 by Yale School of Medicine researchers, raised $168 million in its initial public offering Thursday, pricing 9.9 million shares at $17 each.
Based on Church Street in downtown New Haven, Biohaven develops drugs to treat migraines, anxiety, depression and rare neurological diseases. The researchers have primarily relied on venture capitalists for funding since they started the company.
Biohaven Pharmaceutical will trade on the New York Stock Exchange under the symbol BHVN. After markets closed on Friday, Biohaven’s stock was valued at $17.91.
The initial public offering is expected to close on May 9.