Biohaven jumps on SK Biopharma epilepsy licensing deal worth up to $795 million

Shares of drugmaker Biohaven BHVN.N rose 14% to $16.4 in premarket trading after the company entered a partnership with South Korean drug maker SK Biopharmaceuticals 326030.KS worth up to $795 million to license and commercialize a new epilepsy drug platform.

SK Biopharmaceuticals gains exclusive global rights to Biohaven's lead epilepsy drug candidate, opakalim. Opakalim is in mid-to-late stage trial testing for focal epilepsy, and trial results are expected in H2 2026.

Biohaven said it will use SK's established epilepsy development and sales network to bring opakalim to patients globally.

As of last close, BHVN was up 27.4% year to date.