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Sep 30, 2024
Biohaven Q3 2024 Earnings Report
Reported financial results for the third quarter and provided a review of recent accomplishments and anticipated upcoming developments.
Key Takeaways
Biohaven reported a net loss of $160.3 million, or $1.70 per share, for the third quarter ended September 30, 2024. The company achieved positive topline results from a pivotal trial with troriluzole in spinocerebellar ataxia (SCA) and initiated a Phase 2 trial evaluating BHV-2100 in the acute treatment of migraine.
Achieved positive topline results in pivotal study of troriluzole in SCA, demonstrating efficacy on the mean change from baseline in the f-SARA after 3 years of treatment.
Initiated Phase 2 trial evaluating BHV-2100 in the acute treatment of migraine.
Closed a public offering on October 2, 2024, raising net proceeds of approximately $269.9 million.
Advanced multiple late and early stage assets with potential to change the standard of care across a number of diseases.
Biohaven
Biohaven
Forward Guidance
Biohaven is well positioned to achieve significant milestones in 2024 and 2025 across numerous programs, including Kv7 activator, Troriluzole, Taldefgrobep alfa, First-in-class TRPM3 Antagonist, TYK2/JAK1 Inhibitor, MoDE™ Platform, and Next Generation ADC Platform.
Positive Outlook
- NDA submission to FDA on track for 4Q 2024, following release of pivotal topline results in SCA in September 2024
- Report topline data from Phase 3 trial with taldefgrobep in SMA in 4Q 2024
- Submit a total of 4 INDs in 2024
- Advance Phase 1 Trop-2 directed program BHV-1510 in multiple tumor types
- Continue advancing enrollment in Phase 2 trial with BHV-2100 in acute migraine and neuropathic pain