Security
Biohaven Ltd. · BHVN
BHVNNYSECommon stockCurrentCIK 1935979Updated Oct 30, 2026
Name history
Biohaven Research Ltd. · through Sep 14, 2022
BHVN price & chart
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NYSE:BHVN on TradingView ↗About the company
Biohaven is a biopharmaceutical company focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, obesity, neuroscience, and oncology. The Company is advancing its innovative portfolio of therapeutics, leveraging its proven drug development experience and multiple proprietary drug development platforms. Biohaven's extensive clinical and preclinical programs include Kv7 ion channel modulation for epilepsy; MoDE and TRAP extracellular protein degradation for immunological diseases; and myostatin inhibition for neuromuscular and metabolic diseases, including obesity.
In the news
Biohaven Announces Closing of Upsized Public Offering and Full Exercise of the Underwriters' Option to Purchase Additional Shares, Generating Gross Proceeds of Approximately $200M News provided by Biohaven Ltd. Nov 13, 2025, 16:05 ET Share this article Share to X Share this article Share to X NEW HA ↗
Recent filings
Results of Operations and Financial Condition
Items 2.02, 9.01
10-Q filing
Regulation FD Disclosure
Items 7.01, 9.01
Entry into a Material Definitive Agreement · Regulation FD Disclosure
Items 1.01, 7.01, 9.01
4 filing
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| AssetsUSD | 409,123,000Source | 510,523,000Source | 370,739,000Source | 550,415,000Source | 582,641,000Source | 466,406,000Source | 458,946,000Source | 418,532,000Source | 451,447,000Source | 615,107,000Source | 513,212,000Source | 661,783,000Source |
| Property, Plant and Equipment, NetUSD | 17,521,000Source | 18,276,000Source | 15,089,000Source | 18,593,000Source | 18,665,000Source | 15,256,000Source | 17,788,000Source | 16,693,000Source | 15,964,000Source | 17,320,000Source | 17,191,000Source | 17,512,000Source |
| GoodwillUSD | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source | 18,400,000Source |
| Current assets: | ||||||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 184,847,000Source | 84,390,000Source | 238,033,000Source | 165,797,000Source | 239,147,000Source | 273,074,000Source | 98,417,000Source | 182,705,000Source | 229,957,000Source | 99,134,000Source | 248,402,000Source | 204,877,000Source |
| Assets, CurrentUSD | 323,615,000Source | 440,500,000Source | 296,559,000Source | 474,827,000Source | 511,268,000Source | 385,649,000Source | 382,757,000Source | 348,744,000Source | 368,329,000Source | 538,472,000Source | 442,446,000Source | 586,968,000Source |
| Operating Lease, Right-of-Use AssetUSD | 45,201,000Source | 28,909,000Source | 36,800,000Source | 34,242,000Source | 29,903,000Source | 43,400,000Source | 35,434,000Source | 30,880,000Source | 45,058,000Source | 36,391,000Source | 31,385,000Source | 34,928,000Source |
| Other Assets, NoncurrentUSD | 48,197,000Source | 31,957,000Source | 39,301,000Source | 37,205,000Source | 32,918,000Source | 45,711,000Source | 38,611,000Source | 33,305,000Source | 47,364,000Source | 39,525,000Source | 33,785,000Source | 37,513,000Source |
| LIABILITIES AND EQUITY | ||||||||||||
| LiabilitiesUSD | 426,283,000Source | 194,517,000Source | 358,517,000Source | 415,828,000Source | 198,901,000Source | 336,906,000Source | 199,451,000Source | 117,085,000Source | 399,375,000Source | 191,671,000Source | 85,237,000Source | 123,012,000Source |
| Stockholders’ equity: | ||||||||||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 1,743,740,000Source | 1,381,699,000Source | 2,138,861,000Source | 1,743,109,000Source | 1,298,553,000Source | 2,132,908,000Source | 1,689,346,000Source | 910,964,000Source | 1,934,276,000Source | 1,656,702,000Source | 887,528,000Source | 615,742,000Source |
| Additional Paid in CapitalUSD | 178,045,000Source | 93,038,000Source | 220,365,000Source | 157,019,000Source | 83,832,000Source | 203,358,000Source | 137,467,000Source | 69,385,000Source | 193,984,000Source | 112,369,000Source | 39,804,000Source | 13,869,000Source |
| Retained Earnings (Accumulated Deficit)USD | -1,938,981,000Source | -1,158,871,000Source | -2,352,379,000Source | -1,765,538,000Source | -998,567,000Source | -2,215,068,000Source | -1,567,391,000Source | -678,796,000Source | -2,084,536,000Source | -1,345,714,000Source | -499,292,000Source | -91,124,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 36,000Source | 140,000Source | 5,375,000Source | -3,000Source | -78,000Source | 8,302,000Source | 73,000Source | -106,000Source | 8,348,000Source | 79,000Source | -65,000Source | 284,000Source |
| Stockholders' Equity Attributable to ParentUSD | -17,160,000Source | 316,006,000Source | 12,222,000Source | 134,587,000Source | 383,740,000Source | 129,500,000Source | 259,495,000Source | 301,447,000Source | 52,072,000Source | 423,436,000Source | 427,975,000Source | 538,771,000Source |
| Liabilities and EquityUSD | 409,123,000Source | 510,523,000Source | 370,739,000Source | 550,415,000Source | 582,641,000Source | 466,406,000Source | 458,946,000Source | 418,532,000Source | 451,447,000Source | 615,107,000Source | 513,212,000Source | 661,783,000Source |
| Current liabilities: | ||||||||||||
| Liabilities, CurrentUSD | 113,023,000Source | 152,294,000Source | 62,658,000Source | 124,324,000Source | 156,207,000Source | 52,075,000Source | 164,034,000Source | 86,588,000Source | 115,934,000Source | 154,226,000Source | 55,423,000Source | 90,021,000Source |
| Operating Lease, Liability, CurrentUSD | 5,512,000Source | 3,676,000Source | 4,668,000Source | 4,696,000Source | 3,550,000Source | 5,900,000Source | 4,708,000Source | 3,445,000Source | 5,756,000Source | 3,802,000Source | 3,308,000Source | 3,019,000Source |
| Accounts Payable, CurrentUSD | 17,491,000Source | 19,744,000Source | 12,114,000Source | 19,628,000Source | 17,259,000Source | 10,422,000Source | 19,142,000Source | 36,385,000Source | 11,643,000Source | 18,029,000Source | 15,577,000Source | 10,703,000Source |
| Operating Lease, Liability, NoncurrentUSD | 40,394,000Source | 25,312,000Source | 32,887,000Source | 29,797,000Source | 26,193,000Source | 38,363,000Source | 30,804,000Source | 27,086,000Source | 39,958,000Source | 32,782,000Source | 27,569,000Source | 30,581,000Source |
| Other Liabilities, NoncurrentUSD | 4,596,000Source | 4,591,000Source | 3,492,000Source | 4,637,000Source | 4,321,000Source | 4,556,000Source | 4,613,000Source | 3,411,000Source | 4,583,000Source | 4,663,000Source | 2,245,000Source | 2,410,000Source |
| Additional Financial Items | ||||||||||||
| Accrued Liabilities, CurrentUSD | 73,522,000Source | 63,520,000Source | 50,544,000Source | 78,726,000Source | 57,728,000Source | 41,653,000Source | 56,572,000Source | 50,203,000Source | 104,291,000Source | 51,487,000Source | 39,846,000Source | 44,106,000Source |
| Redeemable Noncontrolling Interest, Equity, Carrying AmountUSD | — | — | — | — | — | — | — | — | — | — | — | 0Source |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | — | — | — | — | — | — | — | -570,279,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | — | — | 2,366,000Source | 2,246,000Source | 9,922,000Source | 7,855,000Source | 6,912,000Source | 1,386,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | 21,535,000Source | 12,160,000Source | 19,164,000Source | 20,812,000Source | 28,286,000Source | 53,062,000Source | 112,361,000Source | 71,963,000Source | 28,787,000Source | 193,556,000Source |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts PayableUSD | — | — | — | — | — | — | -1,221,000Source | 91,000Source | -6,386,000Source | 710,000Source | 4,874,000Source | 5,928,000Source |
| Deferred Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 0Source | 0Source | 0Source | 0Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | -149,918,000Source | -165,124,000Source | -609,438,000Source | -582,453,000Source | -331,725,000Source | -297,689,000Source |
| Cash flows from investing activities: | ||||||||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | 15,212,000Source | 164,879,000Source | 300,561,000Source | -244,974,000Source | 129,830,000Source | -304,790,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | — | — | — | — | — | — | — | — | 1,849,000Source | — | — | — |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | — | — | — | 0Source | 461,000Source | 715,000Source | 4,049,000Source | 3,048,000Source | 6,074,000Source |
| Cash flows from financing activities: | ||||||||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | 179,016,000Source | 369,000Source | 439,117,000Source | 677,774,000Source | 211,908,000Source | 767,597,000Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | — | — | — | — | — | — | 0Source | 0Source | -194,000Source | 2,258,000Source | — | 451,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | 44,326,000Source | 147,000Source | 130,237,000Source | -149,578,000Source | 9,516,000Source | 165,547,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | 188,384,000Source | 88,019,000Source | 240,627,000Source | 168,997,000Source | 277,105,000Source | 102,689,000Source | 232,779,000Source | 102,542,000Source | 252,120,000Source | 242,604,000Source |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | — | — | — | — | — | 216,000Source | 125,000Source | 0Source | 0Source |
| Income Taxes Paid, NetUSD | — | — | — | — | — | — | — | — | 133,000Source | -10,444,000Source | -33,300,000Source | 38,165,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | — | — | — | — | 16,000Source | 23,000Source | -3,000Source | 75,000Source | -497,000Source | 429,000Source |
| Additional Financial Items | ||||||||||||
| Share-based Payment Arrangement, ExpenseUSD | — | — | — | — | — | — | — | — | 1,477,000Source | 1,249,000Source | 1,341,000Source | — |
| DepreciationUSD | — | — | 1,105,000Source | 1,000,000Source | 621,000Source | 1,060,000Source | 708,000Source | 1,015,000Source | 4,140,000Source | 3,923,000Source | 3,369,000Source | 1,361,000Source |
| General and Administrative ExpenseUSD | — | — | 28,213,000Source | 20,561,000Source | 24,085,000Source | 27,334,000Source | 26,601,000Source | 33,977,000Source | 110,313,000Source | 89,240,000Source | 62,770,000Source | 130,860,000Source |
| GoodwillUSD | — | — | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source | 1,390,000Source |
| Income (Loss) from Equity Method InvestmentsUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 0Source |
| Income Tax Expense (Benefit)USD | — | — | 221,000Source | -59,000Source | 391,000Source | 261,000Source | 272,000Source | 609,000Source | 1,442,000Source | 735,000Source | -1,383,000Source | 438,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -173,443,000Source | -160,304,000Source | -137,311,000Source | -198,147,000Source | -130,532,000Source | -221,677,000Source | -738,822,000Source | -846,422,000Source | -408,168,000Source | -570,279,000Source |
| Nonoperating Income (Expense)USD | — | — | -3,840,000Source | 17,805,000Source | -12,021,000Source | 13,815,000Source | 168,000Source | 493,000Source | 7,998,000Source | 39,424,000Source | 26,500,000Source | -1,909,000Source |
| Operating ExpensesUSD | — | — | — | — | — | — | — | — | — | — | — | 567,932,000Source |
| Other Nonoperating Income (Expense)USD | — | — | — | — | — | — | — | — | 7,998,000Source | 39,424,000Source | 26,500,000Source | -1,909,000Source |
| Proceeds from Contributions from AffiliatesUSD | — | — | — | — | — | — | — | — | — | 0Source | 0Source | — |
| Proceeds from Issuance of Common StockUSD | — | — | — | — | — | — | 178,884,000Source | 0Source | 189,175,000Source | 666,165,000Source | 243,225,000Source | 283,804,000Source |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-saleUSD | — | — | — | — | — | — | 35,000,000Source | 210,000,000Source | 570,000,000Source | 504,364,000Source | 322,079,000Source | — |
| Proceeds from Stock Options Exercised | — | — | — | — | — | — | — | —Source | — | — | — | — |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (Loss)USD | — | — | -169,382,000Source | -178,168,000Source | -124,899,000Source | -211,701,000Source | -130,428,000Source | -221,561,000Source | -745,378,000Source | -885,111,000Source | -436,051,000Source | -567,932,000Source |
| Other Nonoperating Income (Expense)USD | — | — | — | — | — | — | — | — | 7,998,000Source | 39,424,000Source | 26,500,000Source | -1,909,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | — | — | -173,222,000Source | -160,363,000Source | -136,920,000Source | -197,886,000Source | -130,260,000Source | -221,068,000Source | -737,380,000Source | -845,687,000Source | -409,551,000Source | -569,841,000Source |
| Income Tax Expense (Benefit)USD | — | — | 221,000Source | -59,000Source | 391,000Source | 261,000Source | 272,000Source | 609,000Source | 1,442,000Source | 735,000Source | -1,383,000Source | 438,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | -173,443,000Source | -160,304,000Source | -137,311,000Source | -198,147,000Source | -130,532,000Source | -221,677,000Source | -738,822,000Source | -846,422,000Source | -408,168,000Source | -570,279,000Source |
| Earnings Per Share, BasicUSD per share | — | — | -1.64Source | -1.7Source | -0.91Source | -1.94Source | -0.88Source | -2.17Source | -6.86Source | -9.28Source | -5.73Source | -12.75Source |
| Earnings Per Share, DilutedUSD per share | — | — | -1.64Source | -1.7Source | -0.91Source | -1.94Source | -0.88Source | -2.17Source | -6.86Source | -9.28Source | -5.73Source | -12.75Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 105,815,038Source | 94,372,159Source | 150,636,620Source | 102,372,820Source | 147,615,197Source | 101,943,396Source | 107,624,885Source | 91,234,337Source | 71,200,527Source | 44,741,316Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 105,815,038Source | 94,372,159Source | 150,636,620Source | 102,372,820Source | 147,615,197Source | 101,943,396Source | 107,624,885Source | 91,234,337Source | 71,200,527Source | 44,741,316Source |
| Additional Financial Items | ||||||||||||
| Costs and ExpensesUSD | — | — | 169,382,000Source | 178,168,000Source | 124,899,000Source | 211,701,000Source | 130,428,000Source | 221,561,000Source | 745,378,000Source | 885,111,000Source | 436,051,000Source | — |
| Current Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 1,442,000Source | 735,000Source | -1,383,000Source | 438,000Source |
| General and Administrative ExpenseUSD | — | — | 28,213,000Source | 20,561,000Source | 24,085,000Source | 27,334,000Source | 26,601,000Source | 33,977,000Source | 110,313,000Source | 89,240,000Source | 62,770,000Source | 130,860,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | — | — | — | — | — | — | — | — | -783,270,000Source | -885,508,000Source | -424,647,000Source | -598,046,000Source |
| Income (Loss) from Equity Method InvestmentsUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 0Source |
| Interest Income, Debt Securities, OperatingUSD | — | — | 2,153,000Source | 3,843,000Source | 1,239,000Source | 3,076,000Source | 1,562,000Source | 3,228,000Source | 9,638,000Source | 14,477,000Source | 10,490,000Source | — |
| Interest Income, OtherUSD | — | — | 1,299,000Source | 1,850,000Source | 1,468,000Source | 1,122,000Source | 1,714,000Source | 1,011,000Source | 5,082,000Source | 7,034,000Source | 7,432,000Source | — |
| Investment Income, NetUSD | — | — | 3,410,000Source | 5,648,000Source | 2,683,000Source | 4,153,000Source | 3,250,000Source | 4,206,000Source | 14,585,000Source | 21,334,000Source | 17,686,000Source | 3,208,000Source |
| Nonoperating Income (Expense)USD | — | — | -3,840,000Source | 17,805,000Source | -12,021,000Source | 13,815,000Source | 168,000Source | 493,000Source | 7,998,000Source | 39,424,000Source | 26,500,000Source | -1,909,000Source |
| Operating ExpensesUSD | — | — | — | — | — | — | — | — | — | — | — | 567,932,000Source |
| Research and Development ExpenseUSD | — | — | 141,169,000Source | 157,607,000Source | 100,814,000Source | 184,367,000Source | 103,827,000Source | 187,584,000Source | 635,065,000Source | 795,871,000Source | 373,281,000Source | 437,072,000Source |
Offerings
Registration 333-295531
Filing attachments
a2026q3bhvnearningsprex991.htm · 8-K · 2026-10-29
Exhibit 99.1 Biohaven Reports Recent Business Developments and Third Quarter 2026 Financial Results • The US Food and Drug Administration (FDA) accepted new drug application resubmission for Vyglxia (troriluzole) in spinocerebeller ataxia (SCA), user fee goal date 1Q27. • Announced exclusive global license with SK Biopharmaceuticals Co., Ltd. for Kv7 ion channel platform, including opakalim (BHV-7000); providing $400 million in near-term cash consideration to Biohaven. • Entered into exclusi…
Read attachment ↗a2026q2bhvnearningsprex991.htm · 8-K · 2026-08-10
EX-99.1 2 a2026q2bhvnearningsprex991.htm EX-99.1 Document Exhibit 99.1 Biohaven Reports Recent Business Developments and Second Quarter 2026 Financial Results • First extracellular protein degraders in the clinic demonstrate rapid and robust pharmacodynamic effects and compelling safety in nearly 200 individuals dosed, Phase 3 trial underway ◦ Positive clinical biomarker and patient data presented from Biohaven's extracellular degrader platform demonstrated deep, rapid, selective lowerin…
Read attachment ↗a2026q1bhvnearningsprex991.htm · 8-K · 2026-05-04
EX-99.1 2 a2026q1bhvnearningsprex991.htm EX-99.1 Document Exhibit 99.1 Biohaven Reports Recent Business Developments and First Quarter 2026 Financial Results • Biohaven to update clinical, regulatory, and operational progress at annual R&D Day at the upcoming Yale Innovation Summit on May 27, 2026. • Advancement of high-value, late-stage priority programs: ◦ Pivotal epilepsy program with selective Kv7 ion channel activator, opakalim, with expected topline results in 2H 2026. ◦ Phase 2 …
Read attachment ↗a2025q4bhvnearningsprex991.htm · 8-K · 2026-03-02
EX-99.1 2 a2025q4bhvnearningsprex991.htm EX-99.1 Document Exhibit 99.1 Biohaven Reports Recent Business Developments and Fourth Quarter and Full Year 2025 Financial Results • Prioritizing three key, late-stage clinical programs including Molecular Degrader of Extracellular Proteins (MoDE™) and Targeted Removal of Aberrant Protein (TRAP™) extracellular protein degradation for immunological diseases, Kv7 ion channel modulation for epilepsy; and myostatin-activin pathway targeting obesity: …
Read attachment ↗a2025bhvnltdex42warrantsur.htm · 10-K · 2026-03-02
Exhibit 4.2 WARRANT SURRENDER AGREEMENT THIS WARRANT SURRENDER AGREEMENT (the “Agreement”) is made as of December 16, 2025, by and between Biohaven Ltd., a British Virgin Islands company (the “Company”), and Knopp Biosciences LLC (the “Warrant Holder”). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Warrant (as defined below). WHEREAS, Warrant Holder holds a warrant to acquire shares of Common Stock of the Company as set forth in Exhibit A her…
Read attachment ↗a2025ex43descriptionofsecu.htm · 10-K · 2026-03-02
Exhibit 4.3 DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 The following summary of the common shares of Biohaven Ltd. ("Biohaven", "we" or "us") is based on and qualified by our Amended Memorandum and Articles of Association. Please note that this summary is not intended to be exhaustive. For further information, please refer to the full version of our memorandum and articles of association, which is filed as an exhibit to t…
Read attachment ↗