Biohaven Ltd.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
BHVN$14.48+4.2%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share amounts)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $184,847 | $99,134 |
| Marketable securities | 75,370 | 386,857 |
| Prepaid expenses | 54,983 | 49,376 |
| Other current assets | 8,415 | 3,105 |
| Total current assets | 323,615 | 538,472 |
| Property and equipment, net | 17,521 | 17,320 |
| Intangible assets | 18,400 | 18,400 |
| Goodwill | 1,390 | 1,390 |
| Other non-current assets | 48,197 | 39,525 |
| Total assets | $409,123 | $615,107 |
| Liabilities and Shareholders' Equity | ||
| Current liabilities: | ||
| Accounts payable | $17,491 | $18,029 |
| Accrued expenses and other current liabilities | 73,522 | 51,487 |
| Forward contract and derivative liability | 22,010 | 84,710 |
| Total current liabilities | 113,023 | 154,226 |
| Non-current operating lease liability | 40,394 | 32,782 |
| Notes payable | 268,270 | — |
| Other non-current liabilities | 4,596 | 4,663 |
| Total liabilities | 426,283 | 191,671 |
| Commitments and contingencies (Note 12) | ||
| Shareholders' (Deficit) Equity: | ||
| Preferred shares, no par value; 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2025 and December 31, 2024 | — | — |
| Common shares, no par value; 200,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 105,803,655 and 101,221,989 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 1,743,740 | 1,656,702 |
| Additional paid-in capital | 178,045 | 112,369 |
| Accumulated deficit | (1,938,981) | (1,345,714) |
| Accumulated other comprehensive income | 36 | 79 |
| Total shareholders' (deficit) equity | (17,160) | 423,436 |
| Total liabilities and shareholders' equity | $409,123 | $615,107 |
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