Biohaven Research Ltd

BHVN

Equity

ISIN VGG1110E1079 / Valor 121902526

New York Stock Exchange, Inc (2024-09-18)

USD 39.40+1.03%

Biohaven Research Ltd
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About company

Biohaven Research Ltd is a biopharmaceutical company that has demonstrated a strong track record in developing and commercializing innovative therapies, particularly in the field of neurology. The company gained significant attention for its development of Nurtec® ODT (rimegepant), a groundbreaking treatment for migraine, which acts as both a preventive and acute therapy for migraine attacks. This novel CGRP receptor antagonist received approval from the FDA and the European Medicines Agency (EMA), marking a significant milestone in migraine treatment. Prior to its acquisition by Pfizer in May 2022, Biohaven's CGRP platform, including Nurtec ODT, achieved notable success, with Nurtec ODT becoming the leading prescribed medication in its class within two years of its launch in 2020. This achievement underscores Biohaven's capability in not only developing but also effectively commercializing treatments that address critical needs in the healthcare sector, particularly in areas with significant patient demand.

Summarized from source with an LLMView SourceSector: Healthcare

First Quarter 2024 R&D Expenses

For the first quarter of 2024, Biohaven Research Ltd reported Research and Development (R&D) expenses of $156.0 million, a significant increase from $63.5 million in the same quarter of the previous year. This $92.5 million rise was primarily attributed to heightened direct program spending on advancing clinical trials, including late Phase 2/3 studies, preclinical research programs, and a milestone payment for BHV-1510 following the acquisition of Pyramid Biosciences, Inc.

First Quarter 2024 G&A Expenses

General and Administrative (G&A) expenses for Biohaven Research Ltd in the first quarter of 2024 were $27.3 million, up from $14.3 million in the first quarter of 2023. The $12.9 million increase was mainly due to a rise in non-cash share-based compensation expenses, which totaled $13.6 million for the quarter.

First Quarter 2024 Other Income

Other income, net for Biohaven Research Ltd for the first quarter of 2024 amounted to $4.3 million, a decrease from $8.2 million in the corresponding quarter of 2023. This $3.9 million reduction was largely due to a decrease in other income recognized under the Transition Services Agreement with Biohaven Pharmaceutical Holding Company Ltd., the Former Parent.

First Quarter 2024 Net Loss

Biohaven Research Ltd reported a net loss of $179.5 million, or $2.20 per share, for the first quarter of 2024, compared to a net loss of $70.5 million, or $1.03 per share, for the same period in 2023. The non-GAAP adjusted net loss for the quarter was $144.6 million, or $1.77 per share, which excludes non-cash share-based compensation charges.

First Quarter 2024 Capital Position

As of March 31, 2024, Biohaven Research Ltd's capital resources included cash, cash equivalents, marketable securities, and restricted cash totaling approximately $287.6 million. This figure does not include the net proceeds of approximately $247.8 million from the public offering completed on April 22, 2024.

Summarized from source with an LLMView Source

Key figures

116%1Y

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Performance

67.1%1Y

80.0%3Y

80.0%5Y

Volatility