Biohaven Ltd
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 3, 2025
BHVN$15.11-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(Amounts in thousands)
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(846,422) | $(408,168) | $(570,279) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Non-cash share-based compensation | 71,963 | 28,787 | 193,556 |
| Acquisition of IPR&D asset | 10,811 | — | 93,747 |
| Impairment of Artizan preferred stock | — | — | 10,000 |
| Depreciation and amortization | 7,855 | 6,912 | 1,386 |
| Issuance of Former Parent common shares as payment for license and consulting agreements | — | — | 1,779 |
| Issuance of common shares as payment for license agreement | 71,627 | 21,814 | — |
| Obligation to issue common shares as payment for license agreements and other arrangements | 8,554 | — | — |
| Fair value of forward contract and derivative liabilities under license agreement | 102,529 | — | — |
| Change in fair value of forward contract and derivative liabilities | (17,819) | — | — |
| Issuance of warrant under license agreement | 3,340 | — | — |
| Other non-cash items | (11,702) | (5,683) | 726 |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses, income tax receivable, and other current and non-current assets | 8,043 | 27,176 | (41,336) |
| Accounts payable | 710 | 4,874 | 5,928 |
| Accrued expenses and other current and non-current liabilities | 8,058 | (7,437) | 6,804 |
| Net cash used in operating activities | $(582,453) | $(331,725) | $(297,689) |
| Cash flows from investing activities: | |||
| Proceeds from maturities of marketable securities | 504,364 | 322,079 | — |
| Proceeds from sales of marketable securities | — | 4,920 | — |
| Purchases of marketable securities | (745,680) | (194,121) | (259,716) |
| Purchases of property and equipment | (4,049) | (3,048) | (6,074) |
| Payment for IPR&D asset acquisition | — | — | (35,000) |
| Cash acquired from acquisition of IPR&D asset | 391 | — | — |
| Purchase of Artizan preferred stock | — | — | (4,000) |
| Net cash (used in) provided by investing activities | $(244,974) | $129,830 | $(304,790) |
| Cash flows from financing activities: | |||
| Net transfers from Former Parent | — | — | 449,130 |
| Change in restricted cash due to Former Parent | — | (35,212) | 35,212 |
| Proceeds from issuance of common shares | 666,165 | 243,225 | 283,804 |
| Payments of issuance costs | (2,150) | (800) | (1,000) |
| Proceeds from issuance of common shares under 2022 Equity Incentive Plan and 2022 Employee Share Purchase Plan | 11,501 | 4,695 | 451 |
| Other financing activities, net | 2,258 | — | — |
| Net cash provided by financing activities | $677,774 | $211,908 | $767,597 |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 75 | (497) | 429 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (149,578) | 9,516 | 165,547 |
| Cash, cash equivalents and restricted cash at beginning of period | 252,120 | 242,604 | 77,057 |
| Cash, cash equivalents and restricted cash at end of period | $102,542 | $252,120 | $242,604 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $125 | $— | $— |
| Cash (received) paid for income taxes | $(10,444) | $(33,300) | $38,165 |
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