Biohaven is betting hundreds of millions it can hustle ahead of rivals in a blockbuster race. A quick M&A deal could pay off backers big time

Biohaven $BHVN may not have anything like the market caps of its rivals at Allergan $AGN and Eli Lilly $LLY, but they’re not letting the David vs. Goliath status of their competition stop them from making a big bet on a fast win for a new oral drug to treat acute migraine. And they’re backed by a group that has an eye on a potential buyout.