Biohaven Ltd. - BHVN STOCK NEWS

Biohaven (NYSE: BHVN) has successfully closed its underwritten public offering of 6,052,631 common shares, including the full exercise of the underwriters' option to purchase an additional 789,473 shares. The offering was priced at $47.50 per share, resulting in gross proceeds of approximately $287.5 million before deducting underwriting discounts, commissions, and offering expenses.

The company intends to use the net proceeds for general corporate purposes. The offering was managed by joint lead book-running managers J.P. Morgan, Morgan Stanley, Jefferies, and TD Cowen. The shares were issued under an effective shelf registration statement on Form S-3, and the offering was made through a prospectus supplement and accompanying prospectus.

Biohaven (NYSE: BHVN) has announced the pricing of its public offering of 5,263,158 common shares at $47.50 per share. The company expects to raise approximately $250 million in gross proceeds before deducting underwriting discounts and expenses. Biohaven has also granted underwriters a 30-day option to purchase up to an additional 789,473 shares at the public offering price. The offering is set to close on October 2, 2024, subject to customary conditions.

The company plans to use the net proceeds for general corporate purposes. J.P. Morgan, Morgan Stanley, Jefferies, and TD Cowen are acting as joint lead book-running managers for the offering. The shares will be issued under an effective shelf registration statement on Form S-3.

Biohaven (NYSE: BHVN), a global clinical-stage biopharmaceutical company, has announced a proposed public offering of $250 million of its common shares. The company plans to grant the underwriter a 30-day option to purchase up to an additional $37.5 million of common shares. J.P. Morgan and Morgan Stanley are acting as book-running managers for the offering.

Biohaven intends to use the net proceeds for general corporate purposes. The offering is subject to market conditions, and there is no assurance regarding its completion or terms. The shares will be issued under an effective shelf registration statement on Form S-3.

Biohaven (NYSE: BHVN) has initiated a pivotal Phase 2 trial evaluating BHV-2100 for the acute treatment of migraine. BHV-2100 is a potential first-in-class, orally administered Transient Receptor Potential Melastatin-3 (TRPM3) antagonist, a novel and non-opioid investigational treatment for migraine and other pain disorders.

The trial is a randomized, double-blind, placebo-controlled study assessing the efficacy and safety of two doses (75 mg and 150 mg) of BHV-2100. It will enroll approximately 575 patients across 60 sites in the United States. The study aims to support registration with FDA-accepted coprimary endpoints of pain freedom and freedom from most bothersome symptom at 2 hours.

BHV-2100 demonstrated excellent safety and tolerability in Phase 1 trials, with rapid absorption and sustained concentrations. Biohaven aims to address the unmet needs of migraine patients, including those who do not respond to existing therapies, estimated to be about one-third of the 40 million patients in the US.

Biohaven (NYSE: BHVN) announced positive topline results from a pivotal study of troriluzole in Spinocerebellar Ataxia (SCA). The study met its primary endpoint, showing significant improvement in the modified functional Scale for the Assessment and Rating of Ataxia (f-SARA) after 3 years of treatment. Key findings include:

- 50-70% slowing of disease progression, representing a 1.5-2.2 year delay over 3 years
- Statistically significant superiority at 1, 2, and 3 years
- Achieved significance on 9 consecutive, prespecified primary and secondary endpoints

Biohaven plans to submit a New Drug Application (NDA) to the FDA in Q4 2024, with potential for priority review due to orphan drug and fast-track designations. If approved, Biohaven aims to commercialize troriluzole for SCA in the US by 2025.

Biohaven (NYSE: BHVN) has announced a conference call and webcast scheduled for Monday, September 23, 2024, at 8:30 a.m. Eastern Time. The purpose of this event is to discuss topline data from Study BHV4157-206-RWE (NCT06529146), which was designed in collaboration with the US Food and Drug Administration (FDA) to evaluate the effectiveness of troriluzole in Spinocerebellar Ataxia.

Interested parties can access the live event through the Investor Relations section of Biohaven's website. For those wishing to participate via telephone, registration is required, after which a dial-in number and unique PIN will be provided for conference call access.

Biohaven (NYSE: BHVN) released its Q2 2024 financial results and highlighted recent business developments. The company reported $440 million in cash and equivalents as of June 30, 2024. Key updates include:

• Positive interim data from the Phase 1 study of BHV-1300 showing dose-dependent IgG reductions with no serious adverse events.
• Advancements in the MoDE™ platform with three new INDs expected before year-end.
• Five Phase 2/3 trials underway for BHV-7000 in epilepsy and mood disorders.
• Promising Phase 1 data for BHV-2100 and BHV-8000, targeting migraine, pain, and neuroinflammation.
• Taldefgrobep alfa progressing with Phase 3 data in SMA and Phase 2 trial in obesity expected in 2H 2024.
• Net loss for Q2 2024 was $319.8 million compared to $90.3 million in Q2 2023, with increased R&D expenses due to a one-time non-cash expense of $171.9 million.
• G&A expenses rose to $19.0 million from $14.5 million in Q2 2023.
• Other income increased to $14.2 million from $5.8 million in Q2 2023.

Biohaven presented updates on its innovative portfolio at the 2024 Investor R&D Day, showcasing progress across multiple therapeutic areas. Key highlights include positive interim data from the Phase 1 study of BHV-1300, showing significant IgG reductions without severe adverse events. The company also initiated five pivotal clinical trials for BHV-7000 targeting epilepsy, bipolar disorder, and depression. Additionally, positive Phase 1 data for BHV-2100 and BHV-8000 were reported, along with promising preclinical results for taldefgrobep alfa in weight loss. Biohaven also dosed the first patient in the Phase 1/2 trial of BHV-1510 for advanced epithelial tumors. The company continues to advance its degrader platform, with plans for multiple INDs in 2024.

Biohaven has dosed its first patient in a Phase 1/2 study of BHV-1510, a Trop-2 directed antibody-drug conjugate (ADC) targeting advanced or metastatic epithelial tumors. BHV-1510 has shown promising preclinical results, including superior efficacy and a broader therapeutic margin compared to other Trop-2 ADCs. The study will evaluate the drug as a monotherapy and in combination with Regeneron's anti-PD-1 therapy, Libtayo®. Biohaven's proprietary ADC technology and partnership with Regeneron aim to advance treatment options in oncology, particularly for cancers with significant unmet medical needs.

The multicenter, open-label trial will have a dose-escalation phase followed by a multicohort expansion phase. Preclinical data suggests BHV-1510 could offer a better safety profile, including no lung toxicity, and improved clinical efficacy. The partnership with Regeneron will see Biohaven sponsor and fund the trial, while Regeneron supplies Libtayo. This initiative represents a key step in Biohaven's broader oncology strategy.