NYSE$BHVN

Biohaven Ltd old · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Biohaven reported financial results for the first quarter ended March 31, 2023, and provided a review of recent accomplishments and anticipated upcoming milestones.

Biohaven reported a net loss of $70.5 million, or $1.03 per share, for the first quarter of 2023. The company is advancing its pipeline of therapies for neurological and neuropsychiatric diseases and expects to reach significant pipeline milestones in the coming periods.

  • Acquired exclusive license for oral, brain-penetrant, dual TYK2/JAK1 inhibitor for immune-mediated brain disorders in March 2023 covering global rights (excluding China).
  • Appointed Nick Kozauer, M.D. as SVP of Clinical Development and Regulatory Strategy.
  • Taldefgrobep alfa granted Fast Track Designation in SMA.
  • Driving strong and consistent progress across six robust drug development platforms in 2023.

Headline financials

Total Revenue

-$21K

Previous: $319M-100.0%
EPS (adj)

-$0.98

Previous: -$1.62+39.5%
Capital Expenditures

-$735K

Previous: $246K-398.8%
Free Cash Flow

-$71.2M

Previous: -$59.1M-20.6%
Net Income

-$70.5M

Previous: -$97M+27.4%
Operating Income

-$77.8M

Previous: -$89.8M+13.4%
Gross Profit

-$21K

No prior period
Cash & Equivalents

$125M

Previous: $40.3M+210.6%
Total Assets

$619M

No prior period
Stock-Based Comp

$3.77M

Previous: $40.1M-90.6%

Revenue & EPS history

Biohaven · Revenue · Quarterly

-$21K

Q1 2023-100%vs Q1 2022
Beat estimate in 2 of 6 quarters(33%)
ActualEstimate

Forward guidance

Biohaven expects to reach significant pipeline milestones in the coming periods.

Tailwinds

  • Initiate EEG study with BHV-7000 in the first half of 2023.
  • Following Phase 1 study completion, Biohaven expects to initiate pivotal trials in patients with epilepsy and patients with bipolar disorder in the second half of 2023.
  • Submit IND with BHV-7010 in epilepsy and mood disorders in the second half of 2023.
  • Submit IND with BHV-2100 in chronic pain in the second half of 2023.
  • Submit IND with BHV-1300 in the second half of 2023.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 14 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

-0.5%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+7.7%

Avg return

30 days after

50%

7 / 14 earnings

Positive

+12.6%

Q2 2024

Best reaction

-12.5%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025-9.7%-16.0%-17.0%
Q3 2024-6.5%+0.5%+28.3%
Q3 2025-5.7%+0.5%+28.3%
Q2 2025-9.0%+6.6%-5.0%
Q1 2025+0.0%-3.7%-5.2%
Q4 2024-2.2%-7.1%-36.3%
Q2 2024+12.6%+13.7%+6.7%
Q1 2024-12.5%-8.7%-17.5%
Q4 2023+4.7%+24.0%+15.6%
Q3 2023+1.0%+4.6%+30.9%
Q2 2023+3.1%+3.4%-3.3%
Q1 2023+5.3%+2.2%+72.6%
Q4 2022+10.4%+5.4%+10.8%
Q3 2022+1.2%+2.2%-0.9%
Q2 2022
Q1 2022
Q4 2021
Q3 2021
Q2 2021
Q1 2021
Q4 2020
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017

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