Biohaven reported that its potassium channel modulator failed a Phase 2 trial in major depressive disorder, marking a second mid‑stage clinical setback for the company’s experimental program. The failure underscores the translational risk for ion‑channel–targeted CNS drugs and is likely to affect Biohaven’s near‑term development strategy and investor outlook. The Connecticut‑based biotech said the candidate did not meet the trial’s primary endpoint, prompting a reassessment of the program.