Biohaven Ltd. BHVN
Biohaven is a biopharmaceutical company focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, neuroscience, and oncology. We are advancing our innovative portfolio of therapeutics, leveraging our proven drug development experience and multiple proprietary drug development platforms.
On October 3, 2022, Biohaven Pharmaceutical Holding Company Ltd. (the "Former Parent") completed the distribution to holders of its common shares of all of our outstanding common shares and the spin-off of Biohaven Ltd. from the Former Parent (the "Separation"). As a result of the Separation, Biohaven became an independent, publicly traded company as of October 3, 2022, and commenced regular way trading under the symbol "BHVN"' on the New York Stock Exchange on October 4, 2022.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| R&D | $635.1M | $795.9M | $373.3M | $437.1M | $181.5M | $98.5M | — |
| SG&A | $110.3M | $89.2M | $62.8M | $130.9M | $37.4M | $16.0M | — |
| Total operating expenses | $745.4M | $885.1M | $436.1M | $567.9M | $218.9M | $114.5M | — |
| Operating income | -$745.4M | -$885.1M | -$436.1M | -$567.9M | -$218.9M | -$114.5M | — |
| Pre-tax income | -$737.4M | -$845.7M | -$409.6M | -$569.8M | -$212.4M | -$118.7M | — |
| Income tax | $1.4M | $735.0K | $1.4M | $438.0K | $1.4M | $0 | — |
| Net income | -$738.8M | -$846.4M | -$408.2M | -$570.3M | -$213.8M | -$118.7M | — |
| EPS, basic | -6.86 | -9.28 | -5.73 | -12.75 | -5.43 | -3.01 | — |
| EPS, diluted | -6.86 | -9.28 | -5.73 | -12.75 | -5.43 | -3.01 | — |
| Shares, diluted (wtd. avg.) | 107.6M | 91.2M | 71.2M | 44.7M | 39.4M | 39.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $230.0M | $99.1M | $248.4M | $242.6M | $77.1M | $83.5M | $9.9M |
| Short-term investments | $89.2M | $386.9M | $133.4M | $260.5M | $0 | — | — |
| Total current assets | $368.3M | $538.5M | $442.4M | $587.0M | $94.8M | — | — |
| Property, plant and equipment | $16.0M | $17.3M | $17.2M | $17.5M | $13.0M | — | — |
| Goodwill | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | — | — |
| Other intangibles | $18.4M | $18.4M | $18.4M | $18.4M | $18.4M | — | — |
| Total assets | $451.4M | $615.1M | $513.2M | $661.8M | $142.1M | — | — |
| Accounts payable | $11.6M | $18.0M | $15.6M | $10.7M | $4.8M | — | — |
| Total current liabilities | $115.9M | $154.2M | $55.4M | $90.0M | $41.9M | — | — |
| Total liabilities | $399.4M | $191.7M | $85.2M | $123.0M | $47.4M | — | — |
| Retained earnings | -$2.08B | -$1.35B | -$499.3M | -$91.1M | $0 | — | — |
| Total equity | $52.1M | $423.4M | $428.0M | $538.8M | $34.7M | $16.8M | $14.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$609.4M | -$582.5M | -$331.7M | -$297.7M | -$145.8M | -$76.0M | — |
| Depreciation and amortisation | $9.9M | $7.9M | $6.9M | $1.4M | $1.4M | $72.0K | — |
| Stock-based compensation | $112.4M | $72.0M | $28.8M | $193.6M | $65.6M | $29.5M | — |
| Capital expenditure | $715.0K | $4.0M | $3.0M | $6.1M | $938.0K | $1.1M | — |
| Investing cash flow | $300.6M | -$245.0M | $129.8M | -$304.8M | $944.0K | -$2.7M | — |
| Financing cash flow | $439.1M | $677.8M | $211.9M | $767.6M | $138.4M | $152.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001935979-26-000020.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$118.7M | -$213.8M | -$570.3M | -$408.2M | -$846.4M | -$738.8M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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