NYSE$BHVN

Biohaven Ltd old · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported third quarter 2022 financial results and recent business developments.

Biohaven Ltd. reported a net loss of $68.9 million, or $1.75 per share, for the three months ended September 30, 2022. The company launched as a new publicly traded company in October and raised gross proceeds of approximately $301.9 million in a public financing.

  • Biohaven Ltd. began operating as a separate independent entity in connection with the merger agreement with Pfizer Inc. in May 2022.
  • The company closed its underwritten public offering of 28,750,000 common shares at a price of $10.50 per share, raising gross proceeds of approximately $301.9 million.
  • Phase 1 studies for BHV-7000, an activator of Kv7.2/Kv7.3, are advancing.
  • Enrollment commenced in a Phase 3 clinical trial assessing the efficacy and safety of taldefgrobep alfa in SMA.

Headline financials

EPS (adj)

-$1.25

Previous: -$1.91+34.6%
Weighted Avg Shares Outstanding

68.2M

No prior period
Capital Expenditures

$4.52M

Previous: $737K+513.8%
Free Cash Flow

-$100M

Previous: -$114M+11.8%
Net Income

-$68.9M

Previous: -$54.4M-26.6%
Operating Income

-$67.6M

Previous: -$55.5M-21.9%
Cash & Equivalents

$50.7M

Previous: $362M-86.0%
Total Assets

$136M

No prior period
Stock-Based Comp

$17M

Previous: $52.7M-67.7%

Revenue & EPS history

Biohaven · Revenue · Quarterly

$0

Q4 2025
Beat estimate in 2 of 6 quarters(33%)
ActualEstimate

Forward guidance

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

Tailwinds

  • Complete Phase 1 studies of BHV-7000 in the first half of 2023 and initiate at least one pivotal trial in patients with epilepsy in the second half of 2023.
  • Complete enrollment in Phase 3 study of troriluzole in OCD in 2023.
  • Provide an update on troriluzole in SCA in the first half of 2023.
  • Continue advancing Phase 3 clinical studies of taldefgrobep alfa in SMA.
  • Continue advancing early discovery portfolio across multiple neuroscience and immunoscience indications.

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 Q3 2022

Historical avgQ3 2022

-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———
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Q4 2021———
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Q4 2017———
Q3 2017———
Q2 2017———
Q1 2017———

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