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Jun 30, 2024
Biohaven Q2 2024 Earnings Report
Reported financial results for Q2 2024 and provided a review of recent accomplishments and anticipated upcoming developments.
Key Takeaways
Biohaven reported a net loss of $319.8 million, or $3.64 per share, for the second quarter ended June 30, 2024. The company's cash, cash equivalents, marketable securities and restricted cash totaled approximately $440 million on June 30, 2024. Biohaven is advancing its pipeline with multiple clinical trials underway and expects several milestones in 2024 and 2025.
Reported positive interim data from Phase 1 study of BHV-1300, a Molecular Degrader of Extracellular Proteins (MoDE™), showing dose-dependent and rapid IgG reductions.
Advancing novel ion channel program with 5 Phase 2/3 trials underway for BHV-7000 in epilepsy and mood disorders, and positive Phase 1 data for TRPM3 antagonist BHV-2100.
Taldefgrobep alfa progressing on track with Phase 3 topline data in spinal muscular atrophy (SMA) and Phase 2 trial initiation in obesity expected in 2H 2024.
Advancing registrational programs for Parkinson’s disease and prevention of Amyloid-Related Imaging Abnormalities (ARIA) following interactions with the FDA for Tyrosine Kinase 2/Janus Kinase 1 (TYK2/JAK1) selective inhibitor, BHV-8000.
Forward Guidance
Biohaven anticipates achieving significant milestones in 2024 and 2025 across numerous programs.
Positive Outlook
- Continue 5 ongoing Phase 2/3 trials with BHV-7000 in focal epilepsy, idiopathic generalized epilepsy, MDD, and bipolar disorder
- Topline results from a new RWE protocol of 3-year data from troriluzole treated patients in SCA in 2H 2024
- Conduct interim analysis of the second Phase 3 OCD trial in 2H 2024 and report topline data from first Phase 3 OCD trial in 1H 2025
- Initiate Phase 2 trial with taldefgrobep in obesity in 2H 2024
- Report topline data from Phase 3 trial with taldefgrobep in SMA in 2H 2024
Historical Earnings Impact
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