Nicky Henderson has been dealt a hammer blow with the news that Binocular will miss Tuesday's stanjames.com Champion Hurdle at Cheltenham.

The current champion had been heading the ante-post market at around the 7-2 mark just hours before Sunday's declaration time.

The JP McManus-owned gelding was treated for an allergy two weeks ago and did not respond to initial medication and required further treatment.

Unfortunately Binocular then tested positive for a substance and on the British Horseracing Authority's advice, Henderson was forced to withdraw the horse.

In a statement to Press Association Sport, Henderson said: "We have very regretfully had to decide not to declare Binocular for Tuesday's Champion Hurdle.

"He had an allergy two weeks ago that did not respond to initial medication and on veterinary advice and well within normal parameters he required a further treatment the following day.

"As we were getting close to the most important race of the year and also because since that administration to Binocular, another horse had tested positive for the same substance, I thought it prudent to take a precautionary test which not only surprisingly, let alone devastatingly, has also shown to be positive.

"We have therefore reluctantly had to take the BHA's advice this morning that the only reasonable course in everybody's interest is not to confirm the entry and he has consequently been withdrawn from the Champion Hurdle.

"We are all obviously shattered but I am particularly upset for JP (McManus) who has been incredibly understanding as I know how much this horse means to him."

Henderson added: "I would very much like to sympathise with all Binocular's supporters and punters who may have backed him ante-post."

The BHA explained the course of events that eventually led to the horse's withdrawal in a statement which read: "The Authority received an elective test request from Nicky Henderson this week. The results of those tests came through on Thursday and Binocular had a screening finding for a legitimate veterinary medication.

"We all wanted to give Binocular every chance to run, both from connections point of view and also thinking of those that had backed him for the Champion Hurdle, therefore over the weekend HFL tested further samples.

"The results of those tests were still positive. We advised Nicky Henderson and his vets of this result on Saturday night and, bearing in mind that against expectations the levels of the substance were remaining constant, the clear advice was that Binocular would test positive on raceday.

"We were informed following a further conference call with connections this morning that they had therefore decided not to declare the horse.

"This is obviously bitterly disappointing for connections and also for backers of Binocular, but based on all the information to hand it is the only decision that could be taken in the interests of both the horse and the integrity of the sport.

"Because the horse has not run and because the substance is a legitimate medication, we want to be clear that this screening finding is not a breach of the rules.

"We will continue to assist where we can in establishing when Binocular tests negative and can therefore race again."

Amongst the 11 who are declared, leading fancies Menorah, Peddlers Cross and Hurricane Fly all stand their ground, with confirmation that Ruby Walsh will ride the last-named.

Paul Towned will ride Willie Mullins' other runner Thousand Stars, whilst Henderson will rely solely on Oscar Whisky.

Last-year's runner-up Khyber Kim and Mille Chief will run, whilst the rest of the field consists of Bygones Of Brid, Clerk's Choice, Dunguib and Overturn.