Biohaven reports Q1 adjusted EPS (69c), consensus (76c)

Reports Q1 R&D expenses, including non-cash share-based compensation costs, $103.8M, compared to $187.6M last year. Vlad Coric, Chairman and CEO of Biohaven (BHVN), commented, “We are planning for a transformative year ahead at Biohaven, with multiple potential value-driving milestones on the horizon. In the coming several weeks, we expect the initiation of our pivotal clinical trials to advance our novel MoDE and TRAP extracellular protein degradation platform into two pivotal studies, BHV-1300 for Graves’ disease and BHV-1400 for IgA nephropathy. These pivotal trials represent a key milestone for the degrader platform and further extends the clinical validation of our strategy to selectively degrade disease-causing proteins with our precision immunology technology. In the second half of 2026, we expect to report pivotal data from our epilepsy program and topline results from our obesity program.”