NYSE$BHVN
Biohaven Ltd old · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results for the second quarter and provided a review of recent accomplishments and anticipated upcoming milestones.
Biohaven reported a net loss of $90.3 million for the second quarter of 2023. The company highlighted positive interim data from its BHV-7000 EEG biomarker study and the advancement of BHV-8000 into Phase 1 clinical trials. They also plan to submit an IND for BHV-1300 in the second half of 2023.
- Announced positive interim data from BHV-7000 EEG biomarker study demonstrating evidence of central nervous system (CNS) target engagement.
- Advanced brain penetrant TYK2/JAK1 inhibitor, BHV-8000, into Phase 1 with projected therapeutic concentrations achieved and well-tolerated profile observed to date.
- Advanced targeted extracellular protein degradation platform with potential to support numerous clinical candidates across a broad range of high unmet need indications.
- Orphan drug designation (ODD) granted by the European Commission for taldefgrobep alfa a novel anti-myostatin adnectin, for the treatment of spinal muscular atrophy (SMA).
Headline financials
Revenue & EPS history
Biohaven · Revenue · Quarterly
-$17K
Forward guidance
Biohaven is progressing its product candidates through clinical programs in a number of common and rare disorders. The Company plans to reach significant pipeline milestones in the coming periods.
Tailwinds
- Announce Phase 1 EEG study results by year-end 2023
- Initiate Phase 2/3 studies with BHV-7000 in the second half of 2023
- Submit IND with BHV-1300, the Company's lead extracellular degrader
- Submit IND with selective Gd-IgA1 degrader
- Initiate Phase 2 study with BHV-8000
Headwinds
- Type A meeting planned with FDA regarding troriluzole program in Spinocerebellar Ataxia Type 3 (SCA3)
- Complete enrollment in Phase 3 obsessive compulsive disorder (OCD) trial expected to complete at end of 2023
- Complete enrollment in Phase 3 clinical study of taldefgrobep alfa in SMA
- Continue advancements across multiple neuroscience and immunoscience indications
- The FDA informed Biohaven it would not review the application given that the study's primary endpoint was not met and thus, would not permit a substantive review
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 Q2 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
| Quarter | Report date | Reaction (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% | |
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