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Biohaven Ltd.

NYSE•BHVN
CEO: Dr. Vladimir Coric M.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2022-09-23
Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities. It also offers BHV-1300, a product candidate in Phase 1 clinical trials to treat rheumatoid arthritis; BHV-1310 for the treatment of generalized myasthenia gravis and acute exacerbations or flares; BHV-1400 to treat IgA Nephropathy; and BHV-1600 for the treatment of dilated cardiomyopathy. In addition, the company develops BHV-1100, a product candidate in Phase 1a/1b clinical trials for multiple myeloma patients; BHV-1510, a preclinical product that targets carcinomas; and BHV-1500 for Hodgkin's lymphoma. It has license, development, and commercialization agreements with Yale University, AstraZeneca, University of Connecticut, Artizan Biosciences Inc., Reliant Glycosciences LLC, Katholieke Universiteit Leuven, BMS, and Highlightll Pharmaceutical Co. Ltd. The company was formerly known as Biohaven Research Ltd and changed its name to Biohaven Ltd. in September 2022. Biohaven Ltd. was incorporated in 2022 and is headquartered in New Haven, Connecticut. Biohaven Ltd. was formerly a subsidiary of Biohaven Pharmaceutical Holding Company Ltd.
Contact Information
215 Church Street, New Haven, CT, 06510, United States
203-404-0410
www.biohaven.com
Market Cap
$1.05B
P/E (TTM)
-1.6
1.4
Dividend Yield
--
52W High
$31.18
52W Low
$7.48
52W Range
10%
Rank58Top 85.6%
2.3
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2020-2025

Financial Dashboard

Q4 2025 Data

Revenue

$0.00+0.00%
4-Quarter Trend

EPS

-$1.21+0.00%
4-Quarter Trend

FCF

-$130.67M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Loss Significantly Reduced Net loss narrowed to $(738.8) M USD in 2025, showing $107.6 M improvement versus prior year.
R&D Spending Decreased Total R&D expenses fell $160.8 M USD to $635.1 M, driven by Knopp milestone restructuring.
Cash Position Strengthened Cash, equivalents, and restricted cash grew $130.2 M USD to $232.8 M by year-end 2025.
New Financing Secured Received $250.0 M USD proceeds from First Notes issuance under Note Purchase Agreement in April 2025.

Risk Factors

Continued Need for Capital Company has limited operating history, incurred substantial losses, requires substantial additional funding for growth.
Regulatory Approval Uncertainty Troriluzole NDA for SCA received CRL; future regulatory success remains uncertain despite RWE data.
Product Candidate Development Failure Success depends entirely on limited product candidates; clinical trials are expensive, time-consuming, and uncertain outcomes.
Shareholder Litigation Exposure Lawsuit filed July 2025 alleging securities violations; defending litigation is costly and diverts management attention.

Outlook

Key Program Pivotal Trials Plan pivotal trial initiation for BHV-1300 (Graves') and BHV-1400 (IgAN) during the first quarter of 2026.
Parkinson's Trial Initiated Initiated Phase 2/3 randomized trial for BHV-8000 (TYK2/JAK1) in early Parkinson's disease in H1 2025.
Obesity Study Results Expected Phase 2 study for Taldefgrobep Alfa in obesity initiated Q4 2025; expects topline results reported in 2026.
Continued IP Protection Focus Committed to developing, maintaining, expanding, and protecting extensive intellectual property portfolio globally.

Peer Comparison

Revenue (TTM)

IMCR stock ticker logoIMCR
$372.97M
+20.2%
XERS stock ticker logoXERS
$291.85M
+43.7%
VCEL stock ticker logoVCEL
$276.26M
+16.5%

Gross Margin (Latest Quarter)

CLDX stock ticker logoCLDX
100.0%
+0.0pp
ABCL stock ticker logoABCL
100.0%
+588.5pp
IMCR stock ticker logoIMCR
96.6%
+0.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
EWTX$3.21B-18.4-32.0%0.7%
VERA$2.94B-8.8-59.7%10.5%
VRDN$2.41B-7.0-58.4%5.6%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Deep Research

Next earnings:May 8, 2026
|
EPS:-$1.07
|
Revenue:$490.30K
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data