Biohaven Q3 net loss narrows as expenses fall
BHVN•Biohaven’s third-quarter net loss narrowed year over year as research and development and general and administrative expenses declined. The company reported a $129.28 million net loss, or $0.86 per basic share, and said licensing deals could bring up to $500 million in near-term cash.
1. Quarterly results
Biohaven reported a third-quarter net loss of $129.28 million, or $0.86 per basic share. Operating expenses were $126.42 million. Lower research and development costs reflected program reprioritization and reduced direct and preclinical spending; lower general and administrative expenses reflected reduced employee costs, including share-based compensation.
2. Deals and outlook
Licensing agreements with SK Biopharmaceuticals and Ono Pharmaceutical could bring Biohaven up to $500 million in near-term cash. The company expects an FDA decision on Vyglxia in spinocerebellar ataxia in the first quarter of 2027, plans to start a pivotal BHV-1400 IgAN trial in the fourth quarter of 2026, and expects topline data from an opakalim Phase 2/3 epilepsy study in the second half of 2026.
