MYOV - Myovant stock rises 25% as Q4 revenue soars Y/Y partner Pfizer to buy Biohaven

Myovant Sciences (NYSE:MYOV) stock rose ~25% on May 10 after the company's Q4 results. Q4 total revenues grew ~134% Y/Y to $57.57M, but missed analysts' estimates. Pfizer collaboration revenue amounted to $25.14M, compared to ~$20.98M in Q4 2021. Myovant is expecting FDA decision by Aug. 6 for expanded use of Myfembree for managing pain associated with endometriosis. In April, the companies said that the FDA had identified deficiencies in their marketing application. The company noted that an FDA approval would trigger a $100M milestone payment from Pfizer. Earlier in the day, Pfizer said it was acquiring Biohaven for a total of ~$11.6B in cash. Pfizer and Biohaven were partners  for migraine therapy rimegepant, sold as NURTEC ODT, and zavegepant. "Fiscal year 2021 was a transformative year for Myovant as we expanded ORGOVYX utilization in the U.S. and successfully launched MYFEMBREE, finishing the year with another quarter of strong demand growth," said Myovant CEO David Marek.

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Myovant stock rises 25% as Q4 revenue soars Y/Y, partner Pfizer to buy Biohaven