Biohaven Stock Price, News & Analysis

Biohaven Pharmaceutical Holding Company (NYSE: BHVN) reported impressive Q3 2021 results, with net product revenues of $135.7 million, a 46% increase from Q2, driven by strong demand for NURTEC ODT, exceeding expectations. With over 1.1 million prescriptions and a partnership with Pfizer for global commercialization, the company sees substantial growth potential in the migraine market, estimated at $4-5 billion annually in the US. However, R&D and SG&A expenses rose significantly, leading to a net loss of $171.8 million. Upcoming milestones include advancing NURTEC ODT and reporting key trial results in 2022.

Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) will host its third quarter 2021 earnings call on November 9, 2021, at 8:00 a.m. ET, where it will report financial results for the quarter ending September 30, 2021. The call will highlight recent achievements and upcoming milestones. Investors can access the call via phone or through the company's website. Biohaven focuses on innovative treatments for neurological and neuropsychiatric conditions, with notable products including FDA-approved NURTEC ODT for migraine management.

Biohaven Pharmaceutical (NYSE: BHVN) has commenced a Phase 1a/1b clinical trial for BHV-1100, targeting multiple myeloma in patients with minimal residual disease (MRD+). The trial aims to evaluate the safety and efficacy of BHV-1100 combined with autologous cytokine induced memory-like (CIML) natural killer (NK) cells. Enrollment is set for 25 patients prior to autologous stem cell transplant (ASCT). The ARM platform driving BHV-1100 offers potential advantages over traditional therapies, with expectations of significant tumor burden reduction in CD38-positive myeloma cases.

Biohaven Pharmaceutical announced preliminary net product revenue of $136 million for NURTEC ODT in Q3 2021, reflecting a 46% increase from Q2. Over 1 million prescriptions have been filled since launch, with approximately 46,000 unique prescribers. NURTEC ODT is the first medication approved for both acute and preventive migraine treatments, addressing a significant healthcare need for the 40 million migraine sufferers in the U.S. The company highlights its market-leading position with positive feedback from patients and healthcare providers.

Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) announced that its investigational drug, verdiperstat, failed to demonstrate efficacy in treating multiple system atrophy (MSA), lacking statistical significance against placebo on primary and secondary measures. Safety data were consistent with earlier trials. The company remains committed to addressing neurodegenerative diseases despite this setback, with ongoing trials for verdiperstat in amyotrophic lateral sclerosis (ALS) expected to complete enrollment by Q4 2021. Full study results will be shared at a scientific meeting.

Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) presented 17 abstracts at the 2021 International Headache Society – European Headache Federation Joint Congress from September 8-12, 2021. The presentations highlighted data on Nurtec® ODT (rimegepant) and intranasal zavegepant, two migraine treatments. Key findings included the efficacy of rimegepant in reducing monthly migraine days and strong patient preference for rimegepant over previous treatments. The data further demonstrated rimegepant's safety profile in patients with cardiovascular risks and zavegepant's effectiveness in acute migraine treatment.

Biohaven Pharmaceutical (NYSE: BHVN) reported second-quarter 2021 net product revenue of $92.9 million, a remarkable increase from $9.7 million in Q2 2020, attributed to strong demand for NURTEC ODT. This product is now FDA-approved for both acute and preventive migraine treatment, with over 875,000 prescriptions written to date. R&D expenses surged to $77.4 million, up from $42.4 million last year, primarily driven by product development. The net loss for Q2 was $210.6 million, or $3.23 per share. The company has a cash reserve of $368 million as of June 30, 2021, with promising pipeline milestones ahead.

On July 29, 2021, Biohaven Pharmaceuticals (NYSE:BHVN) announced that its medication, Nurtec® ODT (rimegepant), is the official migraine partner of the Big Machine Music City Grand Prix. The race will take place in Nashville on August 8, 2021, with Romain Grosjean driving the No. 51 IndyCar. Nurtec ODT is notable for being the first drug approved by the FDA to both treat and prevent migraine attacks. This partnership aims to raise awareness about migraines and highlight the benefits of Nurtec ODT, which affects nearly 40 million Americans.