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Sep 30, 2023
Biohaven Q3 2023 Earnings Report
Reported financial results for the third quarter of 2023 and provided a review of recent accomplishments and anticipated upcoming milestones.
Key Takeaways
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.
Biohaven
Biohaven
Forward Guidance
Biohaven expects to reach significant pipeline milestones in the coming periods.
Positive Outlook
- 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.