NYSE$BHVN

Biohaven Ltd old · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

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

Total Revenue

$0.00

Previous: -$21K+100.0%
EPS (adj)

-$1.77

Previous: -$0.98-80.6%
Capital Expenditures

-$440K

Previous: -$735K+40.1%
Net Income

-$180M

Previous: -$70.5M-154.6%
Operating Income

-$183M

Previous: -$77.8M-135.6%
Gross Profit

-$941K

Previous: -$21K-4381.0%
R&D Expense

$156M

No prior period
Stock-Based Comp

$34.9M

Previous: $3.77M+826.3%

Revenue & EPS history

Biohaven · Revenue · Quarterly

$0

Q1 2024-100%vs Q1 2023
Beat estimate in 2 of 6 quarters(33%)
ActualEstimate

Forward guidance

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.

Tailwinds

  • Continue to advance Phase 2/3 programs in focal epilepsy, idiopathic generalized epilepsy, MDD and bipolar disorder
  • Continue two Phase 3 trials with troriluzole in OCD
  • Initiate taldefgrobep Phase 2 study in obesity in 2H 2024
  • Report taldefgrobep Phase 3 topline results in SMA in 2H 2024
  • Initiate BHV-2100 Phase 2 study in acute migraine in 2H 2024

Headwinds

  • Conduct BHV-2100 proof of concept (POC) study for neuropathic pain in 2H 2024
  • Complete SAD/MAD studies with BHV-8000 and advance to Phase 2 in 2H 2024
  • A total of 4 Investigational New Drug Applications (INDs) are expected for the degrader program in 2024
  • Provide progress updates regarding ongoing Phase 1 SAD study with BHV-1300 at annual R&D Day on May 29, 2024 followed up with a MAD update in 2H24
  • Advance Phase 1 TROP2 directed ADC program with BHV-1510 in multiple tumor types

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 2024

Historical avgQ1 2024

-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

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro