Biohaven Pharmaceuticals has raised $168 million via an IPO in its quest to develop drugs for neurological diseases such as migraines, as well as rare disorders.

Shares in the Connecticut-based biotech closed at $17.50 on the New York Stock Exchange after launching at $17 – above the expected range of $14 to $16.

Highlights of Biohaven’s pipeline are a small molecule drug, rimegepant, heading into phase 3 trials this year for migraine, and trigriluzole, in phase 2/3 development for spinocerebellar ataxia.

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