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Sep 30, 2022
Biohaven Q3 2022 Earnings Report
Reported third quarter 2022 financial results and recent business developments.
Key Takeaways
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.
Forward Guidance
Biohaven expects to reach significant pipeline milestones in the coming periods.
Positive Outlook
- 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
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Avg. Return Before/After Earnings
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