Biohaven reports first quarter 2024 financial results and recent business developments

Cash, cash equivalents, marketable securities and restricted cash totaled approximately $287.6 million on march 31, 2024, which excludes the net proceeds of approximately $247.8 million from biohaven's public offering completed on april 22, 2024 completed public offering of 6,451,220 biohaven ltd. common shares, which included the exercise in full of the underwriters' option to purchase additional shares, at a price to the public of $41.00 per share reported preliminary summary of data from ongoing single ascending dose (sad) study with the lead asset from biohaven's molecular degrader of extracellular proteins (mode™) platform, bhv-1300 fda granted rare pediatric disease designation for the company's anti-myostatin, taldefgrobep alfa, providing potential to receive priority review voucher (prv) if ultimately approved for the indication of spinal muscular atrophy (sma) completed a "buy-back" of partial royalty and milestone considerations from knopp for the bhv-7000 and other kv7 pipeline programs, replacing up to low teens royalty obligations with a flat mid-single digit royalty along with certain reduced future milestones phase 2 and 3 programs in epilepsy, major depressive disorder (mdd) and bipolar disorder initiated with selective kv7 activator, bhv-7000 phase 1 studies with brain-penetrant tyrosine kinase 2/janus kinase 1 (tyk2/jak1) inhibitor, bhv-8000, and transient receptor potential melastatin 3 (trpm3) antagonist, bhv-2100, programs advancing total of three late stage, pivotal clinical trials ongoing with taldefgrobep alfa in sma and troriluzole in ocd 20 abstracts, including 8 oral presentations and 12 posters, featured at the american academy of neurology (aan) annual meeting, including recognition of bhv-2100 (trpm3 antagonist) as aan abstract of distinction in the pain category; breadth of presentations highlights biohaven's leadership in neuroscience and immunoscience as well as extensive development programs evaluating novel therapies to treat neurological diseases, with abstracts covering programs including kv7 ion channel modulation, modes™, tyk2/jak1 inhibition, glutamate modulation, myostatin inhibition, and trpm3 antagonism new haven, conn.
BHVN Ratings Summary
BHVN Quant Ranking