Eli Lilly To Test Injectable Migraine Med Against Biohaven's Oral Nurtec In Head-To-Head Study

• Eli Lilly And Co (NYSE: LLY) will conduct a head-to-head study comparing once-monthly injectable Emgality (galcanezumab-gnlm) with Biohaven Pharmaceutical Holding Co Ltd's (NYSE: BHVN) Nurtec ODT (rimegepant) orally disintegrating tablet (ODT) patients take every other day.

• Enrolling will start later this year.

• The primary endpoint will be a 50% reduction in the number of headache days patients experience per month versus Nurtec ODT.

• Both drugs are designed to target calcitonin gene-related peptide (CGRP), a protein in the brain that's thought to play a key role in migraines, Lilly said.

• However, Lilly's drug binds to CGRP to prevent it from attaching to receptors, while Biohaven's Nurtec ODT blocks the receptor.

• Nurtec ODT received approval in May and is the only drug that boasts FDA approvals to prevent and immediately treat migraines.

• Meanwhile, Emgality is approved to prevent migraines and episodic cluster headaches in adults.

• Price Action: LLY shares are down 1.37% at 223, and BHVN is down 6.39% at $94.04 during the market trading session on the last check Tuesday.

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