Biohaven Ltd.
Description
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.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 13, 2024 | -1.70 | -1.70 | 0.00 | 0.00% |
| Aug 9, 2024 | -1.77 | -3.64 | -1.87 | 105.65% |
| May 10, 2024 | -1.57 | -2.20 | -0.63 | 40.13% |
| Mar 1, 2024 | -1.41 | -1.81 | -0.40 | 28.37% |
| Nov 15, 2023 | -1.34 | -1.50 | -0.16 | 11.94% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 2 | — | 4 |
| Average estimate | — | -1.67 | — | -5.92 |
| Low estimate | — | -1.70 | — | -6.88 |
| High estimate | — | -1.63 | — | -5.14 |
| Last year EPS | — | -1.77 | — | -8.49 |
Growth estimates
Income statement
| 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Total reported revenue | — | — | — | — |
| Cost of revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating expense | ||||
| Research & development | 373.28M | 437.07M | 181.49M | 98.46M |
| Selling general and admin | 62.77M | 130.86M | 37.41M | 16.05M |
| Other operating expenses | — | — | — | — |
| Operating income | -436.05M | -567.93M | -218.90M | -114.51M |
| Non operating interest income | ||||
| Income | — | — | — | — |
| Expense | — | — | — | — |
| Other income expense | 26.50M | -1.91M | 6.47M | -4.16M |
| Pretax income | -409.55M | -569.84M | -212.43M | -118.67M |
| Tax provision | -1.38M | 438,000 | 1.37M | — |
| Net income | -408.17M | -570.28M | -213.80M | -118.67M |
| Basic EPS | -5.73 | -12.75 | -5.97 | -3.31 |
| Diluted EPS | -5.73 | -12.75 | -5.97 | -3.31 |
| Basic average shares | 71.20M | 44.74M | 35.82M | 35.82M |
| Diluted average shares | 71.20M | 44.74M | 35.82M | 35.82M |
| EBITDA | -429.14M | -566.55M | -217.51M | -114.43M |
| Net income from continuing op. | -408.17M | -570.28M | -213.80M | -118.67M |
| Minority interests | — | — | — | — |
| Preferred stock dividends | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 513.21M | 661.78M | 142.06M | 111.50M | 344.26M |
| Current assets | |||||
| Cash | — | — | 76.06M | 82.51M | 316.73M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 248.40M | 204.88M | 76.06M | 82.51M | 316.73M |
| Other short term investments | 133.42M | 260.46M | — | — | — |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | 2.98M |
| Inventory | — | — | — | — | — |
| Prepaid assets | 35.24M | 20.95M | 6.73M | 7.24M | 8.57M |
| Restricted cash | — | 35.21M | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 12.13M | 19.33M | 2.12M | 10,000 | 4,000 |
| Non current assets | |||||
| Properties | 31.94M | 37.57M | 5.22M | 5.98M | — |
| Land and improvements | — | 12.30M | 12.30M | 6.86M | — |
| Machinery furniture equipment | 12.39M | 7.48M | 4.06M | 2.30M | 2.12M |
| Construction in progress | — | — | — | 130,000 | 110,000 |
| Leases | 802,000 | — | — | — | — |
| Accumulated depreciation | -8.28M | -4.91M | -3.34M | -1.71M | -932,000 |
| Goodwill | 21.18M | 21.18M | 21.18M | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 18.40M | 18.40M | 18.40M | — | — |
| Investments and advances | — | — | 6.00M | 7.18M | 5.34M |
| Other non current assets | 2.40M | 2.59M | 3.22M | 1.01M | 2.49M |
| Total liabilities | 85.24M | 123.01M | 47.37M | 34.72M | 158.25M |
| Current liabilities | |||||
| Accounts payable | 15.58M | 10.70M | 4.78M | 2.76M | 14.07M |
| Accrued expenses | 35.70M | 26.48M | 27.62M | 17.84M | 36.58M |
| Short term debt | 3.31M | 3.02M | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | 837,000 | 14.60M | 9.54M | 7.05M | 3.52M |
| Other current liabilities | — | 11.72M | 3.57M | 2.23M | — |
| Non current liabilities | |||||
| Long term debt | 27.57M | 30.58M | 2.80M | — | — |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | 37.69M |
| Other non current liabilities | 2.25M | 2.41M | 2.64M | 4.84M | 144.18M |
| Shareholders equity | |||||
| Common stock | 887.53M | 615.74M | — | — | 881.43M |
| Retained earnings | -499.29M | -91.12M | — | — | -972.37M |
| Other shareholders equity | -65,000 | 284,000 | — | — | — |
| Total shareholders equity | 427.98M | 538.77M | 94.69M | 76.78M | -90.95M |
| Additional paid in capital | 39.80M | 13.87M | — | — | 83.52M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | 60.00M | 60.00M | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | -408.17M | -570.28M | -213.80M | -118.67M |
| Depreciation | 6.91M | 1.39M | 1.39M | 72,000 |
| Deferred Taxes | — | — | — | — |
| Stock-Based Compensation | 28.79M | 193.56M | 65.64M | 29.50M |
| Other Non-Cash Items | 16.13M | 96.25M | 4.52M | — |
| Accounts Receivable | — | — | — | — |
| Accounts Payable | 4.87M | 5.93M | 1.03M | 222,000 |
| Other Assets & Liabilities | — | — | 1.83M | -3.68M |
| Operating Cash Flow | -351.46M | -273.16M | -139.39M | -92.56M |
| Investing Activities | ||||
| Capital Expenditures | -3.05M | -6.07M | -938,000 | -2.70M |
| Net Intangibles | — | -35.00M | — | — |
| Net Acquisitions | — | — | 1.88M | — |
| Purchase of Investments | -194.12M | -263.72M | — | — |
| Sale of Investments | 327.00M | — | — | — |
| Investing Cash Flow | 129.83M | -269.79M | 944,000 | -2.70M |
| Financing Activities | ||||
| Long-Term Debt Issuance | — | — | — | — |
| Long-Term Debt Payments | — | — | — | — |
| Other Financing Charges | -31.32M | 483.79M | 138.45M | 152.24M |
| Financing Cash Flow | 211.91M | 767.60M | 138.45M | 152.24M |
| Other Cash Details | ||||
| End Cash Position | 252.12M | 242.60M | 77.06M | 83.51M |
| Income Tax Paid | — | 38.17M | 16.59M | 2.76M |
| Interest Paid | — | — | 107,000 | — |
| Free Cash Flow | -334.77M | -338.76M | -146.78M | -78.65M |
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