NYSE$BHVN

Biohaven Ltd old · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported financial results for Q4 2022 and provided a review of recent accomplishments and anticipated upcoming milestones.

Biohaven Ltd. reported a net loss of $201.1 million for the three months ended December 31, 2022. As of December 31, 2022, the company had cash and equivalents of $465.3 million and no debt. The company is focused on advancing its pipeline of therapies for neurological and neuropsychiatric diseases.

  • Acquired exclusive license for oral, brain-penetrant, dual TYK2/JAK1 inhibitor for immune-mediated brain disorders in March 2023 covering global (ex-China) rights.
  • Completed Phase 1 SAD/MAD study with BHV-7000 from Kv7 ion channel activator platform and reported preliminary safety and tolerability data.
  • Commenced enrollment in pivotal Phase 3 study with myostatin targeting agent, adnectin taldefgrobep alfa, for spinal muscular atrophy.
  • Presented preclinical data from IgG degrader, BHV-1300, showing robust reduction of IgG levels.

Headline financials

Total Revenue

-$215M

Previous: $190M-213.2%
EPS (adj)

-$1.27

Previous: -$2.32+45.3%
Capital Expenditures

$300K

Previous: $201K+49.3%
Free Cash Flow

-$75.7M

Previous: -$33.3M-127.6%
Net Income

-$201M

Previous: -$51.9M-287.6%
Operating Income

-$213M

Previous: -$50.9M-319.4%
Cash & Equivalents

$465M

Previous: $76.1M+511.8%
Total Assets

$662M

Previous: $142M+365.8%
Stock-Based Comp

$116M

Previous: $13M+791.6%

Revenue & EPS history

Biohaven · Revenue · Quarterly

-$215M

Q4 2022-213.2%vs Q4 2021
Beat estimate in 2 of 6 quarters(33%)
ActualEstimate

Forward guidance

Biohaven is progressing its product candidates through clinical programs in a number of common and rare disorders and expects to reach significant pipeline milestones in the coming periods.

Tailwinds

  • Initiate EEG study with BHV-7000 in the first half of 2023
  • Submit IND with BHV-7010 in epilepsy and mood disorders in the second half of 2023
  • Submit IND with BHV-2100 in chronic pain in 2023
  • Commence Phase 1 studies with BHV-8000 in 2023
  • Complete enrollment in Phase 3 study of troriluzole in OCD in 2023

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 Q4 2022

Historical avgQ4 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
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

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