Biohaven Ltd old · Q1 2024 earnings

Briefing

Biohaven reported first quarter 2024 financial results and recent business developments.

Biohaven reported a net loss of $179.5 million, or $2.20 per share, for the first quarter ended March 31, 2024. The company's cash, cash equivalents, marketable securities, and restricted cash totaled approximately $287.6 million as of March 31, 2024, excluding net proceeds from a public offering completed in April 2024. Biohaven is advancing its pipeline with multiple clinical trials underway and INDs planned for its MoDE platform.

• Reported preliminary safety and IgG lowering data from ongoing SAD study with BHV-1300.
• Initiated Phase 2/3 program with BHV-7000 underway in epilepsy and also initiated a Phase 2 study in MDD and Phase 2/3 studies in Bipolar Disorder and Generalized Epilepsy with BHV-7000.
• Taldefgrobep alfa awarded "rare pediatric disease" designation by the FDA.
• Delivered oral and poster presentations at AAN showcasing breadth of development work across the platform.

Headline financials

Revenue & EPS history

Biohaven is positioned to achieve value-creating milestones in 2024 across numerous programs. The company plans to continue advancing Phase 2/3 programs in epilepsy, MDD and bipolar disorder, advance Phase 3 trials with troriluzole in OCD, initiate taldefgrobep Phase 2 study in obesity, report taldefgrobep Phase 3 topline results in SMA, initiate BHV-2100 Phase 2 study in acute migraine, conduct BHV-2100 proof of concept study for neuropathic pain, complete SAD/MAD studies with BHV-8000 and advance to Phase 2, and advance Phase 1 TROP2 directed ADC program with BHV-1510 in multiple tumor types.