NYSE$BHVN

Biohaven Ltd old · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Reported financial results for the third quarter of 2023 and provided a review of recent accomplishments and anticipated upcoming milestones.

Biohaven reported a net loss of $102.6 million for the third quarter of 2023. The company's cash, cash equivalents, marketable securities, and restricted cash totaled approximately $495 million as of October 5, 2023, including net proceeds of $242 million from a public offering.

  • BHV-1300, an IgG degrader, demonstrated IgG reductions of greater than 90% from baseline with repeat dosing in non-human primates.
  • EEG biomarker study of BHV-7000 confirmed central nervous system (CNS) activity.
  • Enrollment completed in pivotal Phase 3 study of taldefgrobep alfa for the treatment of spinal muscular atrophy (SMA).
  • Successful completion of the SAD portion of the Phase 1 trial for BHV-8000, a brain penetrant TYK2/JAK1 inhibitor, and initiation of the MAD cohort to enable a Phase 2/3 clinical trial in 2024.

Headline financials

Total Revenue

$0.00

No prior period
EPS (adj)

-$1.44

Previous: -$1.25-15.2%
Capital Expenditures

-$2.58M

Previous: $4.52M-157.0%
Free Cash Flow

-$105M

Previous: -$100M-5.1%
Net Income

-$103M

Previous: -$68.9M-49.0%
Operating Income

-$111M

Previous: -$67.6M-63.4%
Gross Profit

$0.00

No prior period
Cash & Equivalents

$112M

Previous: $50.7M+120.4%
Total Assets

$383M

Previous: $136M+182.2%
R&D Expense

$95.5M

No prior period
Stock-Based Comp

$4.46M

Previous: $17M-73.8%

Revenue & EPS history

Biohaven · Revenue · Quarterly

$0

Q3 2023
Beat estimate in 2 of 6 quarters(33%)
ActualEstimate

Forward guidance

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

Tailwinds

  • Announce additional Phase 1 EEG study results for Kv7 activator BHV-7000 at the American Epilepsy Society Annual Meeting in December.
  • Initiate Phase 3 programs with BHV-7000 in the second half of 2023 and first half of 2024.
  • Submit IND with BHV-1300, the Company's lead extracellular degrader.
  • Submit IND with selective Gd-IgA1 degrader BHV-1400.
  • Initiate Phase 2/3 study with brain penetrant, dual TYK2/JAK1 inhibitor BHV-8000 in Parkinson's disease.

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 2023

Historical avgQ3 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———

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