Biohaven Pharmaceuticals faced a setback as the FDA rejected its treatment for SCA, leading to a significant drop in its stock price. This decision not only impacts the company's financial standing but also raises concerns about the future of its research and development efforts, as Biohaven announced cuts in R&D spending. This situation is crucial as it highlights the challenges biopharma companies face in bringing new treatments to market and the potential implications for patients relying on innovative therapies.