Biohaven Q1 net loss $221.7M; announces $600M Oberland capital deal for troriluzole launch

Biohaven Ltd.

2025-Q1 EPS reported -$2.17

Net loss of $221.7M ($2.17 per share); non-GAAP adjusted net loss $166.8M ($1.64 per share).
Cash as of April 30, 2025: ~$518M, after receiving $250M first tranche from Oberland Capital.
$600M non-dilutive note purchase with Oberland; includes regulatory milestone and royalty on troriluzole sales.
Troriluzole NDA for SCA under FDA priority review; PDUFA in Q3 2025; mid-cycle review completed without advisory committee.
Upcoming milestones: pivotal topline data for troriluzole in OCD in 1H 2025, BHV-7000 MDD data in 2H 2025.

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